Public Power Corp. (PPC) SA on Thursday reported higher operating earnings, lower debt and a 1.8-billion-euro contribution to ameliorate the effects of last year’s energy crisis for 2022, despite a major increase in operating spending, primarily for the purchase of electricity and natural gas.
EBITDA totaled 953.7 million euros, up 9.4 percent from 2021; pre-tax results showed a loss of 26 million euros (compared to losses of 149.8 million euros in 2021) and after-tax results showing a loss of 8.9 million euros (compared to losses of 18.4 million euros in 2021).
Net debt fell by 501 million euros to 1.38 billion euros, while spending for the purchase of energy and fuel grew by 4.911 billion euros, or 141.4 percent compared with the previous year.
Commenting on the results, PPC chairman and CEO Georgios Stassis said PPC managed to resist the unprecedented conditions of volatility and uncertainty prevailing in markets throughout the year, while it implemented its business plan and contributed to efforts to deal with the energy crisis supporting its customers. PPC also proceeded with selective acquisitions and agreed with Italy’s Enel to acquire its activities in Romania.
Stassis said PPC continued its investment plan for renewable energy sources, with the aim to approach a total power capacity of around 1GW by the end of 2023. He noted that PPC expected to complete the transaction for Enel Romania by the third quarter of 2023 and then to present its updated strategic plan to the investment community.
στο Google News και μάθετε πρώτοι όλες τις ειδήσειςLatest News
Greek €200M 10Y Bond to be Issued on April 16
The 3.875% fixed-interest-rate bond matures on March 12, 2029, and will be issued in dematerialized form. According to PDMA, the goal of the re-issuance is to meet investor demand and to enhance liquidity in the secondary bond market.
German Ambassador to Greece Talks Ukraine, Rise of Far Right & Tariffs at Delphi Economic Forum X
Commenting on the political developments in his country, the German Ambassador stressed that it was clear the rapid formation of a new government was imperative, as the expectations across Europe showed.
Athens to Return Confiscated License Plates Ahead of Easter Holiday
Cases involving court orders will also be excluded from this measure.
Servicers: How More Properties Could Enter the Greek Market
Buying or renting a home is out of reach for many in Greece. Servicers propose faster processes and incentives to boost property supply and ease the housing crisis.
Greek Easter 2025: Price Hikes on Lamb, Eggs & Sweets
According to the Greek Consumers’ Institute, hosting an Easter dinner for eight now costs approximately €361.95 — an increase of €11 compared to 2024.
FM Gerapetritis Calls for Unified EU Response to Global Crises at EU Council
"Europe is navigating through unprecedented crises — wars, humanitarian disasters, climate emergencies," he stated.
Holy Week Store Hours in Greece
Retail stores across Greece are now operating on extended holiday hours for Holy Week, following their Sunday opening on April 13. The move aims to accommodate consumers ahead of Easter, but merchants remain cautious amid sluggish market activity.
Green Getaway Ideas for Easter 2025 in Greece
Celebrate Easter 2025 in Greece the sustainable way with eco-farms, car-free islands, and family-friendly getaways rooted in nature and tradition.
Civil Protection Minister Details Summer Firefighting Plans at Delphi Forum
At the 10th Delphi Economic Forum, Minister of Climate Crisis and Civil Protection Yiannis Kefalogiannis discussed Greece's plans for the upcoming fire season.
How Shops and Markets Will Operate During Easter Holy Week
The Easter holiday schedule has been in effect since April 10, with retail stores open Palm Sunday, and most supermarkets also operating to meet consumer demand for Easter shopping
