The management of the company expects a strengthening of the recurring operating profitability of the PPC group in 2023 to 1.1 billion euros, as can be seen from the presentation made yesterday to the stock market analysts by the President and CEO of PPC Giorgos Stassis on the occasion of the announcement of the results of group for 2022.

These figures, as clarified, do not include the contribution from the acquisition of ENEL Romania which is also expected to strengthen the group’s figures.

An important element that emerges from the presentation is also the reversal of the trend of customer leakage from the company as in 2020 PPC lost 392,000 customers and the competition 132,000, in 2021 respectively the figures were 306,000 and 245,000 while in 2022 PPC lost 130,000 customers and the competition 420,000.

PPC announced for 2022 earnings before interest, taxes and depreciation (EBITDA) on a recurring basis of 953.7 million euros, increased by 82 million (9.4%) compared to 2021. For 2023 the estimate is that recurring operating profits will increase to 1.1 billion Euros.

Key developments this year include:

-The completion of the acquisition in Romania which includes RES units, distribution networks and commercial activity placed in the third quarter of the year.

-The installation of a telecommunications network (optical fiber) in 13 Municipalities, and up to 400,000 households by the end of the year.

-The start of commercial operation of the new lignite plant Ptolemaida 5 (660 megawatts) in the third quarter of the year. The construction of the unit has been completed and is in trial operation. As pointed out, the goal of delignitization remains, which will however be delayed by 1-2 years due to the energy crisis.

– The doubling of RES potential from 326 to 680 megawatts. The target at the end of 2025 is 5.1 gigawatts.

-The opening of 15 new stores within the first semester.

During the presentation, Mr. Stassis underlined the reduction of debt by 500 million Euros in 2022 as well as the increase in investments – mainly in distribution and renewable sources – which in total reached 686 million Euros from 438 million in 2021.