PPC recorded strong operating profitability with adjusted earnings before interest, taxes, depreciation and amortisation (EBITDA) of €1.348 billion for the nine months to 2024. 

The expansion of the distribution activities, the increased profitability of the power generation and trading activities, and the addition of the activities in Romania and Kotsovolos in Greece all contributed to this favorable outcome.

• Adjusted net income was €305 million compared to €178 million in the first nine months of 2023.
• Adjusted net income after deducting minority interests was €241 million compared to €144 million in the first nine months of 2023.
• Strong financial position despite continued acceleration of investments.
• PPC maintained its Net Debt/LTM PF EBITDA ratio at 2.7x in September 2024, well below the 3.5x limit set, with net debt at €4,604 million at 30 September 2024.

Commenting on the results, George Stassis, Chairman and CEO of PPC, said: "The strong results for the nine months to 2024 confirm the credibility of our business model with the development of a green and resilient renewable energy portfolio, a customer-centric philosophy, and the digitisation and strengthening of our distribution networks as key pillars of our strategy.

We already have 4.9 GW of RES in operation, with a significant portfolio of projects under development of over 20 GW, of which 3.8 GW is under construction or ready for construction, as well as at a very advanced stage of maturity. We have doubled our investment compared to last year while maintaining a strong financial position. Our performance to date allows us to confirm our EBITDA target of €1.8 billion and net profit of €0.35 billion for 2024."