Dominant Greek power utility (PPC) reports lower Q1 2017 turnover
State-run Public Power Corporation (PPC), the dominant electricity supplier in Greece, on Tuesday announced lower turnover over Q1 2017, down by 3.1 percent from the corresponding quarter of 2016.
The listed power utility said turnover reached 1.37 billion euros, down from 1.41 billion in Q1 2016.
The figure comes amid higher electricity demand during the same period, which PPC said was up by 6.9 percent, compared to Q1 2016.
PPC pointed to “external” factors as negatively affecting its EBITDA, which reached 221.6 million euros in Q1. Additionally, pre-tax losses of 88.1 million euros were incurred during the first trimester of 2017, dropping from a profitable Q1 2016, which posted 122.3 million euros in profits.
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