Sixfold investments, launch of renewable sources, zero lignite and net profits of 800 million. euros from losses amounting to 1.7 billion is the “x-ray” of PPC’s transformation according to the predictions of the company’s new business plan 2025-2027 compared to 2019.

According to the forecasts presented by the group’s president and CEO, George Stassis, investments over the next three years will exceed 10 billion euros (3.7 billion in 2025 – 2026 and 2.8 billion in 2027), while the 2019 were limited to 646 million. euros, as a result of the serious financial problems the company was facing at the time.

The basis of PPC’s transformation was the shift to green energy, from which, if the large hydroelectric plants are excluded, the company was absent, having power units of only 165 megawatts (together with hydroelectric plants, it was 3.2 gigawatts). Today (November 2024) PPC has RES with a total capacity of 5.5 gigawatts in Greece and Romania, of which 3.2 gigawatts are hydroelectric and will reach a total of 11.8 gigawatts in 2027.

Lignite units are currently limited to 1.5 gigawatts from 3.4 in 2019, while full ligniteization is expected to materialize in 2026, two years earlier than originally planned.

In terms of financial results, PPC achieved the target for operating profitability (EBITDA) of 1.5 billion. euros as early as 2023 (it reached 1.6 billion), two years earlier than the target. This year it is predicted to reach 1.8 billion. euros and in 2027 to 2.7 billion euros, so the net profits will be 800 million euros. It is recalled that in 2019 PPC had losses after taxes of 1.7 billion. euro.

Central elements of PPC’s transformation are also the new activities that include retail and the provision of services to customers through Kotsovolos, telecommunications with the optical fiber network being developed in the power distribution network, electrification and the expansion into neighboring markets (Romania , Bulgaria, Croatia, Italy).

As group sources point out, despite the increase in investments, debt to EBITDA will remain below the 3.5x limit set (in 2019 debt was 11 times higher than EBITDA) as the Group will finance approx. 70% of investments from increased cash flow.