Recent developments in Public Power Corporation (PPC) cast a spotlight on its CEO, George Stassis, who sees investment interest in the electricity company increasing significantly, constituting for many the next… hot “paper” of the Athens Stock Exchange.
This is largely credited to the CEO of the Group, who has brought to the fore a fairly ambitious and interesting business story. And as is known, the market likes… stories.
Having taken on the role of CEO in a difficult period (2019), when PPC was on the verge of bankruptcy (losses of 1.6 billion euros), George Stassis has completely reformed the Group, which is not only on track to achieve its 2024 goals (EBITDA 1.8 billion euros) but is setting the bar even higher for the period 2025-2027.
The head of PPC has given guidance until 2027 for investments of 10.1 billion euros, an installed capacity of 11.8 GW in RES, EBITDA profits of 2.7 billion euros, but also a dividend of 1 euro/share, which is four times the distribution last year (0.25 euros/share).
“Trust the process”
The most important thing of all, however, is that the market, despite the ambitious nature of the above, seems to trust the effectiveness of the Stassis administration, which has created a vertically integrated and diversified energy group.
That is why, in recent weeks, there has been a barrage of positive analyses from domestic and foreign rating agencies, which are rushing to raise the target price of the share (set at 17.5 euros).
Today, the listed company is trading at its highest levels since February 2011 (>12.8 euros), with the current valuation of 4.7 billion euros reflecting a P/E (price to earnings) ratio of 12.3x.
At the same time, the successful management of George Stassis, who has expanded PPC into sectors such as Artificial Intelligence, telecommunications, electromobility and advanced technologies in general, has attracted many investors.
Meanwhile, speculations are spreading about a forthcoming change in the share capital of the listed company whose main shareholders are now the Greek state (34.12%), CVC (10.34%) and Helikon (6.97%).
