ATHEX-listed Public Power Corp. (PPC), the dominant electricity producer and provider in Greece, on Thursday reported higher operational profits in the first quarter of 2023.
The utility cited a reduction in operational expenditures, main lower energy costs, but also purchases for carbon emissions.
PPC reported net profits of 51 million euros for the January-March 2023 period, compared to losses of 185.7 million euros in the corresponding period of 2022.
EBITDA reached 280.5 million euros, up by 110.5 million euros (an increase of 65 percent) compared to the same period of 2022.
In commenting on the quarterly results, PPC CEO Georgios Stassis forecast EBITDA of roughly 1.2 billion euros this year.
