May 29, 2014 - Greece-based PPC Renewables SA has doubled its first-quarter net profit to around EUR 800,000 (USD 1.1m) from some EUR 400,000 a year back, its parent utility PPC SA said on Thursday.
The renewable energy unit, which operates wind, small hydroelectric, solar and geothermal power plants, experienced a decrease in earnings before interest, tax, depreciation and amortisation (EBITDA) to EUR 3.3 million from EUR 3.5 million. Still, EBITDA margin increased to 55% from 52.2%.
The company’s revenues fell to EUR 6 million from EUR 6.7 million.
The parent group reported net profits of EUR 81.3 million, up from EUR 49.4 million, and just a slight 0.1% increase in sales to EUR 1.5 billion.