Wind turbines at work. Author: Nick Cross. License: Creative Commons, Attribution-NoDerivs 2.0 Generic.
Greek utility PPC SA (ATH:PPC) reported a net profit of EUR 4.3 million (USD 4.8m) from its renewables subsidiary for the first half of 2016, as compared to EUR 7.7 million a year back.
PPC Renewables SA, operates wind, small hydro, solar photovoltaic (PV) and geothermal power plants. Its earnings before interest, tax, depreciation and amortisation (EBITDA) fell to EUR 7.5 million from EUR 10.7 million a year ago, and the EBITDA margin contracted to 64.9% from 77.7%.
Revenues in the first six months of 2016 declined to EUR 11.5 million from EUR 13.8 million.
The parent company's consolidated net result in the reporting period was a profit of EUR 57.1 million on revenues of EUR 2.66 billion.