PPC Renewables, the green unit of Greek utility Public Power Corp (ATH:PPC), saw
its net profit grow to EUR 7.6 million (USD 9.7m) in 2012 from EUR 6.5 million a
year ago, the parent’s financial report showed Friday.
Earnings before
interest, tax, depreciation and amortisation (EBITDA) at the renewables arm
increased to EUR 13.7 million from EUR 12.9 million, while EBITDA margin climbed
by 0.3 percentage points to 56.3%.
PPC Renewables’ revenue last year
amounted to EUR 24.3 million, compared with EUR 23 million in 2011. The unit
operates wind, small hydroelectric, solar and geothermal power
plants.
The parent company PPC turned to a net profit of EUR 30.5 million
in 2012 from an EUR-148.9-million loss a year back, while revenues improved to
EUR 5.99 billion from EUR 5.51 billion.