PPC Group: EBITDA target at 2.3 billion Euro in 2026 and doubling of EBITDA to 3 billion Euro in 2030

With a vision of becoming a leading player in clean energy and critical infrastructure and services in Southeast Europe, PPC Group presents in London its Strategic Plan for the 2024-2026 period. The plan is based on robust financial growth, profitable investments in Greece and abroad, leveraging on the green transition, a customer centric approach, technology, and partnerships.

Bulding on the solid foundations laid in recent years, despite consecutive crises and a volatile environment, PPC Group is moving forward with its transformation plan setting ambitious goals for the next three years.

For the 2024-2026 period, PPC Group aims to:

• Increase its installed capacity by 18% annually, whilst reconfirming its intention to decommission all lignite units by 2026.

• Increase its RES installed capacity to more than 2/3 of total installed capacity in 2026, from 43% today, whilst also investing in energy storage stations. Through these investments, PPC Group aims to reach 8.9 GW of RES installed capacity by 2026.

• Invest a total of 9 billion Euro over the next three years, mainly in RES, networks’ modernization and new activities, an increase of 130% compared to the 2021-2023 period, funded mainly through the Group’s operating cash flows and to a lesser extent debt, 80% of which has been already commited.

• Expand into Southeast Europe, capitalizing on the opportunities for value creation between countries, through the energy corridor that is being created by the Group.

• Enter new relevant markets, such as fiber optic networks and further development of new activities that have already been initiated, such as emobility.

• Commit to sustainable growth by reducing CO2 emissions by 74% (Scope 1 and 2, 3 (cat. 3)) and by reducing Scope 3 emissions by 42% in 2030 (with 2021 as base year), as well as Net Zero by 2040.

• Achieve an annual EBITDA increase of 15% for the next three years, after having achieved its set target for 1.5bn Euro EBITDA two years earlier, compared to the previous Strategic Plan. The Group EBITDA is expected to reach Euro2.3 billion in 2026 (a 35% increase compared to 1.7 billion Euro, which was the target in the previous plan for 2026). For 2030, the Group aims to reach an EBITDA of 3 billion Euro.

• Net Debt/EBITDA ratio estimated at 3.3x, that is below the maximum threshold set by Management, despite significant investments.

• Reinstate dividend policy after almost 10 years, with dividend distribution every year, starting with a 35% payout on net profits, increasing it up to 55%.

The Chairman and CEO of PPC Group, Mr. Georgios Stassis, noted: “The new PPC Group that we envision is international, robust, customer-centric and modern in order to create sustainable value for all stakeholders. The 2024-2026 period will be a period of investments amounting to Euro9 billion, creating value for the Group and additional value for customers, shareholders, employees and the environment across all the countries we are active in. With our new business plan, PPC Group is strategically positioned on the green transition. The green infrastructure and the tools we create will allow our customers to reap the benefits of the green energy future and its possibilities in the new electrification era. We continuously pursue to be our customers’ first choice, not out of habit, but by being the most modern, environmentally and customer friendly company in the wider region. We are the leading clean energy company in Southeast Europe that has a leading role in a very competitive international energy environment. We are building on the success of recent years and the rebirth of the company. We aim to grow responsibly and with financial prudence in order to ensure that PPC Group will effectively perform its critical role in all countries where it operates.”