Bloomberg News

Greece’s Public Power Says Sales Likely Fell 7 Percent Last Year

March 03, 2012

Public Power Corp. SA (PPC), Greece’s largest electricity producer, said revenue from power sales likely fell about 7 percent last year.

The company said it sees a earnings before interest, taxes, depreciation and amortization margin of around 14 percent, lower than the figure for the nine-month period. That was mainly due to a higher energy mix cost after the Athens-based company saw “significantly lower” hydro generation, according to a Regulatory News Statement late yesterday.

The company’s earnings may be hurt further from a potential increase in provisions for payments due by third-party suppliers, the statement said.

To contact the reporter on this story: Paul Tugwell in Athens at ptugwell1@bloomberg.net

To contact the editor responsible for this story: Jerrold Colten at jcolten@bloomberg.net


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