Strong performance Public Power Corporation Group recorded in the first quarter of 2026, with adjusted EBITDA of €0.7 billion. and adjusted net income after minority interests at €0.2 billion.
As the Group highlights in announcement, the significant increase in profitability reflects the growing contribution of the significant investments implemented in recent years, while the favourable hydrological and wind conditions that prevailed in the first quarter of 2026 also made a positive contribution.
Total investments amounted to €0.5 billion, of which 82% was directed to Renewable Energy Sources (RES) projects, flexible generation and upgrading of distribution networks in continuation of the implementation of the Group’s Business Plan.
Renewable installed capacity at 7.2GW with an additional 6.7GW of projects under construction or ready for construction
Renewable installed capacity stood at 7.2GW at the end of Q1 2026, representing 59% of the Group’s total installed capacity.
Further growth is expected in the coming quarters, with projects with a total capacity of 6.7 GW under construction, ready for construction or in the tender process (bidding).
Financial performance
Adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) increased to €0.7bn from €0.5bn, while adjusted net profit after minority interests was €0.2 billion from €0.1 billion.2
The Net Debt/EBITDA ratio stood at 3.0x, despite the significant level of investments, remaining well below the 3.5x threshold set by the Group’s financial policy, while net debt stood at €6.9bn. at 31 March 2026.
Outlook for 2026
Confirmed targets for adjusted EBITDA at €2.4 billion and adjusted net profit after minority interests at €0.7 billion, and a dividend distribution of €0.80/share.
We: We have made a dynamic start in 2026
Commenting on the results, George Stassis, Chairman and CEO of PPC said: “We started 2026 strongly, recording strong financial performance and continued progress across all pillars of our strategy. Our first quarter results highlight the momentum of our vertically integrated business model, the resilience of our distribution business and the benefits of our ongoing transition to a cleaner and more flexible generation portfolio.”
“We continue to consistently execute our investment plan, with a focus on renewables, flexible generation and distribution networks. With 6.7 GW of renewable energy projects already under construction or ready for construction, we have made significant steps towards achieving our 2030 targets,” Stassis added: “We remain optimistic about achieving our financial targets for 2026. Our vision is for PPC to lead the energy transition in Central-Southeastern Europe. We are expanding our footprint to become a pillar of energy security and sustainability for the entire region, creating value for our citizens, businesses and shareholders.”
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