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Public Power Corporation (PPC) investor relations material
Public Power Corporation Q4 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Achieved strong financial results in FY 2025, meeting targets for profitability and shareholder returns.
Investments of €2.8bn focused on renewables, flexible generation, and distribution, supporting future growth.
Significant progress in RES capacity, with 1.7GW added in 2025 and lignite phase-out underway.
Retail and distribution segments remained resilient despite softer demand and increased competition.
Financial highlights
Revenues rose 8% year-over-year to €9.7bn, driven by higher power prices and Kotsovolos contribution.
Adjusted EBITDA increased 13% to €2.0bn; adjusted net income after minorities up 23% to €0.45bn.
Adjusted EPS grew 24% year-over-year to €1.29.
Free cash flow remained negative due to high investment levels.
Net debt increased to €6.5bn, with leverage at 3.2x, below the 3.5x ceiling.
Outlook and guidance
Confident in achieving 2026 targets: adj. EBITDA €2.4bn, adj. net income after minorities €0.7bn, and DPS €0.80.
Additional 1.8GW RES in execution for 2026, with 86% of 2028 target capacity already secured.
Full lignite phase-out expected by end of 2026.
- H1 2025: EBITDA up 7% to €1bn, €1.3bn invested, renewables and guidance on track.PPC
Q2 202528 Jan 2026 - H1 2024 adjusted EBITDA up 57% to €927m, with strong renewables growth and major investments.PPC
Q2 202428 Jan 2026 - Adjusted EBITDA up 24% to €1.7bn, net income surged, and FY2025 targets reaffirmed.PPC
Q3 202525 Nov 2025 - PPC targets coal-free status by 2026 and €2.7bn+ EBITDA by 2027, led by renewables growth.PPC
Corporate Presentation13 Jun 2025 - EBITDA and revenue surged, fueled by renewables and Romania, with leverage at 2.7x.PPC
Q3 202413 Jun 2025 - Strong H1 2024 results and €9bn investments drive PPC's clean energy transition and growth.PPC
Corporate Presentation13 Jun 2025 - 41% EBITDA growth, €3bn renewables investment, and a 60% dividend hike in 2024.PPC
Q4 20246 Jun 2025 - PPC targets >€2.7bn EBITDA by 2027, leading SEE's energy transition with strong renewables growth.PPC
Corporate Presentation6 Jun 2025 - Record profitability, rapid decarbonization, and €10bn growth plan position PPC as a regional leader.PPC
Corporate Presentation6 Jun 2025
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