Public Power Corp.’s (PPC) operating profitability will exceed its target in 2023, its president and CEO, Giorgos Stassis, told a general shareholders’ meeting on Thursday.
He also announced the distribution of a dividend, but for next year, as well as the completion of ENEL Romania acquisition in the autumn.
PPC’s operating profitability is expected to hover at 1.2 billion euros this year, compared to a target of 1.1 billion euros, while saying the utility will proceed next year with the disbursement of a dividend, as planned.
The ATHEX-listed utility’s top manager described the acquisition of ENEL Romania as a milestone for the company’s development strategy, leading to, among others, an increase in customers by 57 percent, fixed distribution by 40 percent, power generation capacity in operation by 14 percent and of projects to be developed by 50 percent.
Shareholders approved of management’s proposals with in a vote of more than 98.8 percent.
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