Public Power Corporation (PPC) announced that its operating profitability has doubled over the last three years compared to 2021, when the share capital increase took place, resulting in the production of operating profits of 1.8 billion euros in 2024, a target of 2 billion euros in 2025 and a dividend of 0.4 euros per share.
Commenting on the results, George Stassis, Chairman and CEO of PPC, stated:
“2024 was another year of strong performance for PPC, with EBITDA reaching 1.8 billion euros, essentially doubling operating profitability over the last three years compared to 2021, when the share capital increase took place. An increase that is also reflected in net profitability, allowing us to increase the dividend distribution to 0.40 euros per share for 2024.”
“Phasing out lignite by 2026”
“In addition, we increased our investments to 3 billion euros, with an emphasis on Renewable Energy and Distribution projects, in line with our goal of becoming a leading powertech company, clean energy in Southeastern Europe.
We have significantly increased the capacity of Renewable Energy Sources to 6.2 GW, while continuing our plan to completely exit lignite by 2026.”
“Further reductions in electricity tariffs”
“In parallel, PPC further reduced electricity tariffs for its customers in 2024, absorbing the sharp fluctuations in wholesale market prices.
These performances highlight the resilience of our business model, which offers us stability in a highly volatile market while creating opportunities for additional growth.”
