Nearly six years after it flirted with bankruptcy Greece’s biggest and dominant power utility, the Public Power Corp. (PPC), now aims for retailing operations and new sector activities to account for no less than one-fourth of its EBITDA by 2026.
A business plan for the 2024-26 period, presented last week by the ATHEX-listed power company to investment fund managers, cites a heightened emphasis on retailing aimed revolving around its current retail clients/consumers. The goal is an additional 500 million euros in EBITDA on a yearly basis.
In his address, PPC CEO Giorgos Stassis said the goal, in fact, is 2.3 billion euros in EBITDA in 2026, up from 1.5 billion euros in 2023.
The three main initiatives that PPC is promoting beyond its power production and retail-wholesale-industrial electricity supply base, is significant foray into the consumer goods sector with the purchase of the Kotsovolos chain; further promoting its auto charging network (PPC Blue) and entry into the telecoms sector with its Fiber to the Home package.
PPC was formerly the sole power monopoly, top to bottom, in the east Mediterranean country before an EU-imposed breakup and liberalization of the energy market. The Greek state still owns a large chunk of the utility and appoints its top management.
Source: tovima.com
Latest News
Deadline for Postal Vote Registration Expires on Mon.
More than 157,000 Greek citizens had registered on the relevant online platform so far
Orthodox Palm Sunday Today; Shops Open in Greater Athens-Piraeus Area
Orthodox Holy Week begins on Monday, April 29, and ends on Sunday, Easter Sunday or Great and Holy Pascha (May 5)
Greek Retailers Remain Optimistic About Easter Shoppers’ Turnout
While stores are expected to be open on Sunday, April 28, the majority of Easter shoppers will likely do their shopping during the Holy Week, following the deposit of Easter bonuses
Europeche: Greek Apricot Production Recovers
Europeche forecasts the production will bounce back despite a slight decrease in varieties attributed to high winter temperatures
Bank of Greece (BoG): Business-Household Deposits Up 1,675bln in March 2024
In March 2024, the monthly net flow of credit to the general government was negative by 469 million euros
FT: Greece’s Economic Rebound a Balance of Growth and Poverty
Eurostat data revealed a significant 10.8% drop in Greek public debt relative to GDP in 2023, alongside a 2% economic expansion, outpacing Germany's performance.
Lavrio Port Authority Next Up for Privatization
A deadline for the submission of expressions of interest is May 14, 2024
Eurostat: Greece Records Largest Drop in Natural Gas Prices in 2nd Half of 2023
The price of electricity and natural gas in Europe was down following a substantial surge that began before the Russian invasion of Ukraine and peaked in 2022
GEK TERNA Still Considers Leveraging Concessions Portfolio as Financial Tool
President and CEO of Gek Terna George Peristeris explained the company's plans on Tuesday on the sidelines of the inauguration of sections of Greece's E65 highway
NielsenIQ: 3% Supermarket Revenue Increase in Q1
Private label products are gaining traction, comprising 25.4% of shopping basket shares, up from 24.7%