Greek clean energy firm PPC Renewables SA has experienced a
drop in first quarter net profit to EUR 400,000 (USD 521,000) from EUR 900,000
a year earlier, its parent, Public Power Corp (ATH:PPC), said yesterday.
During the three-month period, the company’s pre-tax profit went up to EUR 2
million from EUR 1.1 million. Earnings before interest, tax, depreciation and
amortisation (EBITDA) increased to EUR 3.5 million from EUR 2.2 million. Its
EBITDA margin was 52.2%, up from 44% in the first quarter of 2012.
PPC Renewables’ turnover also rose to EUR 6.7 million from EUR 5 million.
Meanwhile, the parent company turned to a net profit of EUR 3.4 million versus
a loss of EUR 28.2 million in the corresponding period of 2012. Turnover,
however, decreased to EUR 1.47 billion from EUR 1.52 billion.