Increase in operating margin for 2022 recorded by checkpointdespite the large increase in operating costs, and mainly the cost of purchasing energy and natural gas.
In particular, earnings before interest, taxes and depreciation (EBITDA) on a regular basis amounted to 953.7 million euros, up 9.4% compared to 2021. In particular, for the fourth quarter of 2022, regular EBITDA was €309.4 million compared to 2021. 245.3 million in the corresponding quarter of 2021. As the company notes in its related announcement, 2022 EBITDA was impacted by the amount of the emergency levy levied on electricity producers between October 2021 and June 2022, which was estimated at 245.3 million for PPCs after final liquidation, from the provision for payment personnel labor in the amount of 50.5 million, as well as from retroactive accrual in the amount of 6.6 million in connection with the restoration of special benefits from the implementation of the ESSA 2021-2024.
Net losses decreased in 2022 to 8.9 million euros from 18.4 million euros in 2021.
The company ended 2022 with a pre-tax loss of €26 million compared to a loss of €149.8 million in 2021 that it would have come close to in 2022 without the positive contribution of the new Ptolemaida V unit of €177.5 million . Net losses decreased in 2022 to 8.9 million euros from 18.4 million euros in 2021.
The company’s turnover increased by 97.2% and almost doubled, reaching 11.3 billion euros from 5.7 billion in 2021. buying rights for energy, natural gas and CO2 emissions. The company’s borrowings decreased by 502 million euros compared to 2021, and net debt as of 12/31/2022 amounted to 1.388 billion euros. The debt calculation also took into account the $1.323 billion price paid by Macquarie in the first quarter of 2022 to acquire 49% of DEDDIE.
“The results demonstrate the resilience of operating profitability over the last three years, with EBITDA of around €0.9 billion on a regular basis, despite unprecedented events such as the COVID-19 pandemic and the energy crisis,” commented the president and chief executive officer. Checkpoint Giorgos Stasis. He also acknowledged PPC’s €1.8 billion contribution to the energy crisis through support from the Energy Transition Fund, its clients and an emergency levy paid for electricity generation activities.
Source: Kathimerini
Lori Barajas is an accomplished journalist, known for her insightful and thought-provoking writing on economy. She currently works as a writer at 247 news reel. With a passion for understanding the economy, Lori’s writing delves deep into the financial issues that matter most, providing readers with a unique perspective on current events.