Greece's PPC nine-month adjusted EBITDA up 24% on renewables, distribution boost (updated)

Public Power SA

18/11/2025 16:25

Adds CEO quote in paragraph 3, details in 4-7, outlook in 8-9

Nov 18 (Reuters) - Public Power Corporation DEHr.AT, Greece's largest power utility, reported on Tuesday a 24% year-on-year jump in adjusted core profit for the first nine months of 2025, driven by increased distribution revenues and higher renewables output.

Adjusted earnings before interest, tax, depreciation and amortisation for January to September came in at 1.7 billion euros ($2 billion), up from 1.3 billion euros a year earlier, PPC said.

"We remain fully focused on the execution of our transformation plan, investing actively in clean and flexible electricity generation," Chairman and Chief Executive Georgios Stassis said in a statement.

Investments during the first nine months of 2025 totalled 1.9 billion euros, with approximately 88% allocated to renewable energy sources (RES) projects.

RES output rose 5% year-on-year in the nine months, despite a 15% drop in large hydro output due to lower reservoir inflows, the group added.

Wind generation surged 48% and solar output climbed 20%, supported by new capacity, including progress on Greece’s largest solar park in Ptolemaida.

PPC also said its installed RES capacity stood at 6.4 gigawatts at end-September, with 3.9 GW under construction or ready to build and renewables accounting for 33% of its power mix, as lignite output fell 18% year-on-year. The utility plans to phase out lignite by 2026.

The group reaffirmed its outlook for 2025, saying it was on track to deliver adjusted EBITDA of 2 billion euros and net income above 400 million euros.

It also plans to pay a dividend of 0.60 euros per share, up 50% from 2024.

($1 = 0.8621 euros)

 (Reporting by Antonis Pothitos. Editing by Jan Harvey and Mark Potter)

 ((antonis.pothitos@thomsonreuters.com; +48 58 769 65 78;))