The Hellenic Water and Sewage Company (EYDAP) is planning the further development of its activities with the help of the new legislative regulations.
Meanwhile, the company has scheduled investments of 2.1 billion euros in the decade.
Following the new draft law of the Environment Ministry, EYDAP acquires the chance to carry out operation and maintenance activities of water supply and sewerage networks and facilities outside Attica, to acquire control of businesses in related sectors, flexibility for development in RES and reuse of recycled water, simplification of procedures for assigning the maintenance, operation and upgrading of the external water supply system as well as the maintenance of wells and interconnecting storm drains, its CEO, Haris Sahinis, said during the presentation of the 2023 financial results.
On the possible adjustment of tariffs
Regarding a possible adjustment of tariffs, he noted that the relevant decisions will be made after the implementation of the new institutional framework. However, he emphasized that the expansion of activities and the continuous effort to reduce EYDAP’s operating costs are aimed at keeping tariffs down.
In 2023 the absorption of investment program amounted to 44.2 million euros, increased by 45% compared to 2022, and increased by 140% compared to 2021.
The 2024-2033 investment program concerns:
-major projects in Eastern Attica (958.7 million euros.)
-water supply network projects (681.6 million euros)
-sewerage projects (364.5 million euros)
-building, digital governance and transformation projects (103.8 million euros)
It is noted that 50% of the projects are financed by the EU.
Regarding the 2023 results, EYDAP increased turnover and reduced operating expenses by 1.8%.
The high cost of energy contributed to the reduced water demand during the winter months, however, water consumption was favored by the prolonged high temperatures of the summer season and showed a small increase of 0.6%.
EBITDA rose 56% or 21.8 million to 60.8 million euros from 39 million euros in 2022.
The company’s pre-tax profits amounted to 28 million euros from 10.6 million euros in 2022, marking an increase of 163%.
