PPC rebound for €1bn EBITDA by 2022 possible, chief asserts

The worst is over for the power utility PPC as the corporation has the potential to rebound from disappointing financial results at present to an operating profit (EBITDA) of one billion euros three years from now, chief executive Manolis Panagiotakis supported in an interview with energypress.

The utility’s return to positive results could lure investors who would be willing to pay as much as 500 million euros for a 17 percent stake and become a strategic partner who would further reinforce the enterprise, Panagiotakis noted.

Such an amount could end up at state-controlled PPC rather than the TAIPED privatization fund if an equity capital increase is chosen over a direct sale of a 17 percent stake by the fund, Panagiotakis explained.

The PPC boss supports the entry of a strategic partner, as he has made clear in recent times.

The utility’s current administration should remain in place regardless of the results of the upcoming elections this Sunday, as is proper for any listed company. Panagiotakis stressed. The main opposition New Democracy is well ahead in polls.