PPC’s upcoming Investor Day event on strength of good news

Power utility PPC plans to go into early December’s rescheduled Investor Day, an online event organized by the corporation for its presentation of an updated 2021-2023 business plan to international analysts, on the back of favorable developments, including yet another profitable quarter, the fourth in a row, as well as new business openings.

PPC had originally planned Investor Day for last March, in London, but was forced to postpone and reshape for an online version as a result of the pandemic’s outbreak.

A year earlier, PPC was struggling, but the succession of positive quarters has lifted the company into a confident higher flyer.

Its updated business plan will feature more specific goals of greater ambition for the three-year period. They are expected to include a RES market share target of between 15 and 20 percent and capacity of over 1 GW, as well as fresh news on the company’s digital transformation, electromobility effort, commercial policy, and, possibly, an even swifter withdrawal plan for the company’s lignite-fired power stations.

Just days ahead of the Investor Day event PPC will announce a series of favorable developments, namely an initial securitization deal collection of 150 million euros; a higher EBITDA figure for yet another quarter; the launch of a privatization procedure to offer 49 percent of distribution network operator DEDDIE/HEDNO, a subsidiary; and, on December 1, financial results for the nine-month period, including a profitable third quarter.

PPC is also expected to announce a further workforce reduction plan and employee shifts from lignite units headed for closure. Earlier this year, the power utility reported a 10 percent payroll cost reduction for the first half.