Public Power Corporation S.A.

PPC

Equity

ISIN GRS434003000 / Valor 1324702

Athens Exchange S.A. Cash Market (2025-11-20)

EUR 17.09+0.77%

Public Power Corporation S.A.
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About company

Public Power Corporation S.A. (PPC) is a prominent electric utility company based in Southeast Europe, with significant operations in Greece, Romania, and North Macedonia. Established in 1950, PPC has played a crucial role in the electrification and energy development of Greece, and it has been publicly listed on the Athens Stock Exchange since 2001. The company is involved in the generation, distribution, and sale of electricity, boasting a total generation capacity of 10.7 GW, which includes thermal, hydro, and renewable energy sources (RES). Notably, PPC is transitioning towards clean energy, with 4.5 GW of its production capacity coming from renewables and an additional 1.9 GW under construction. The company also has an ambitious project pipeline aiming for 18 GW of capacity. PPC holds a majority stake in the Hellenic Electricity Distribution Network Operator S.A., managing Greece's electricity distribution network spanning over 248,000 km. In Romania, PPC owns the distribution network in three key regions, including Bucharest, serving over 3.1 million customers. The company's strategic focus is on embracing the energy transition, digital transformation, and expanding into new markets and services, including e-mobility, to align with the European Union's 2050 climate neutrality goals.

Summarized from source with an LLMView SourceSector: Energy

Financial Performance

In H1 2025, Public Power Corporation S.A. achieved an Adjusted EBITDA of €1 billion, marking a 7% increase compared to the same period last year. Net Income after minorities rose to €0.2 billion from €0.18 billion. The company's strong financial performance is underpinned by a solid balance sheet with a leverage ratio of 3.2x, aligning with its business plan provisions.

Investments in Renewable Energy

Public Power Corporation S.A. invested €1.3 billion in H1 2025, with 90% allocated to RES, flexible generation, and electricity distribution projects. The installed RES capacity increased to 6.3 GW, supported by new projects entering the construction stage. The company aims to achieve a RES output of 32% of its total energy mix, moving towards becoming lignite-free by 2026.

Operational Highlights

RES generation saw a 1.5% increase in H1 2025, reaching 3.1 TWh, despite a decrease in large hydro power plants' output. Wind and solar parks contributed significantly, with a 40% and 17% increase respectively. Lignite output decreased by 6%, and natural gas generation rose by 18%, balancing the overall energy production.

ESG Improvements

Public Power Corporation S.A. enhanced its ESG profile, receiving higher ratings from Sustainalytics and other international agencies. Key areas of improvement include emissions and waste management, as well as community relations. The company's decarbonization efforts are expected to further boost its ESG ratings.

Outlook for 2025

The positive first half results reinforce Public Power Corporation S.A.'s outlook for the full year 2025. The company reiterates its guidance of €2 billion in Adjusted EBITDA, over €0.4 billion in Adjusted Net Income after minorities, and a €0.60 per share dividend. These targets reflect a continued commitment to growth and shareholder value.

Summarized from source with an LLMView Source

Key figures

47.8%1Y

165%3Y

186%5Y

Performance

26.7%1Y

28.8%3Y

31.7%5Y

Volatility