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Greek energy PPC's nine-month adjusted core profit boosts

Greece's greatest power energy Public Power Corporation on Wednesday published a higher yearonyear changed core revenue in the January to September duration, driven by a greater contribution from its distribution business.

The efficiency also gained from the addition of its Romanian operations as well as the acquisition of electronics seller Kotsovolos.

It said nine-month adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) was available in at 1.35 billion euros ($ 1.43 billion), compared to 0.94 billion euros a year earlier.

PAY PER CLICK, which runs the nation's main power grid, stated its installed capability in renewable resource sources (RES) at the end of September was 4.9 GW and it expects it to increase in the following quarters.

We already have 4.9 GW of RES in operation, with a. substantial gross pipeline of jobs in development over 20. GW, out of which 3.8 GW are either under building and construction or ready. to develop in addition to at a very fully grown stage, Chairman and Chief. Executive Officer Georgios Stassis said in a statement.

In the very first 9 months of the year, pay per click stated its lignite. output was down around 30% year-on-year, while RES regrowth. was up 44%.

The group reiterated its target for repeating EBITDA of 1.8. billion euros and net revenue of 0.35 billion euros this year.

(source: Reuters)