HEDNO investments up 17% in 2020, binding offers for 49% in 3Q

Distribution network operator DEDDIE/HEDNO has reversed its trend of declining investments in recent years, increasing investments to a level of 175 million euros in 2020, a 17 percent increase compared to a year earlier, parent company PPC informed analysts yesterday during a virtual-conference presentation of the group’s 2020 results.

Part of these investments concerned the network’s expansion, whose total length increased by 808 km for medium-voltage networks and 661 km for low-voltage networks. Also, a further 538 low and medium-voltage transformers were installed.

As a result, the medium-voltage network’s length totaled 113,358 km at the end of 2020, the low-voltage network’s length totaled 128,211 km, while the network’s total number of installed transformers reached 165,290.

The network’s active users totaled 7,593,412 at the end of 2020, 12,668 of these in the medium-voltage category.

According to PPC’s group results, DEDDIE/HEDNO’s net profit fell to 20.3 million euros in 2020 from 70 million euros a year earlier.

Binding offers for PPC’s sale of a 49 percent share in DEDDIE/HEDNO are planned for the third quarter this year, PPC’s administration informed analysts during yesterday’s session.