Added to YB: 2026-09-10
Pitch date: 2026-09-08
PPC.AT [neutral]
Public Power Corporation S.A.
+2.75%
current return
Author Info
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Company Info
Public Power Corporation S.A., together with its subsidiaries, generates, transmits, and distributes electricity in Greece, Romania, Bulgaria, and North Macedonia.
Market Cap
EUR 14.3B
Pitch Price
EUR 24.00
Price Target
N/A
Dividend
2.47%
EV/EBITDA
8.66
P/E
18.66
EV/Sales
1.91
Sector
Electric Utilities
Category
growth
[PPC] Public Power Corp: Surviving its own monopoly
PPC.AT (monitor): Public Power has met major EBITDA targets and repaired leverage through a €4.25bn equity raise, but at €24.26 the shares already trade around 20x 2026 earnings and 8x all-in EBITDA while the €24bn expansion plan remains free-cash-flow negative until decade-end. The key question is whether renewables deployment, Greek retail retention and Romanian collections support the promised €4.6bn of 2030 EBITDA without renewed tariff intervention.
Read full article (27 min)