Romania is a strategic market for PPC, the Greeks sent their first message after signing the agreement to acquire the business of Enel Romania.

Romania is a strategic market for PPCPhoto: checkpoint

PPC assured that everything will go smoothly for Enel employees and customers. “The company will continue to operate under normal conditions, with no changes for Enel’s customers or employees. Customers will continue to be served on the existing contractual terms, in accordance with current legislation. The takeover will not in any way affect Enel’s employees in Romania, who will be an important part of future growth plans,” PPC said.

PPC aims to continue and develop what Enel has built over the last 18 years in Romania in terms of green energy, electric mobility, customer portfolio and value-added services. “We see many opportunities in the local market and intend to invest in the development of operations in Romania,” PPC said in a statement. Upon completion of the acquisition, PPC Group will become the largest player in the energy market of Southeast Europe.

The company’s 2022 financial results announced last night confirm that PPC is a solid company with accelerated growth. Operating profitability increased in 2022. In particular, the current EBITDA indicator amounted to 953.7 million euros, which is 82 million euros (9.4%) more than in 2021.

“In 2022, PPC managed to cope with the unprecedented conditions of instability and uncertainty that prevailed in the markets where we are present during the year, while implementing the business plan. These results confirm the stability of our operating profitability over the past 3 years. We have made selective acquisitions in Greece and signed an agreement to acquire Enel’s integrated platform in Romania, which we believe is a unique opportunity and an ideal choice both from a geographic and business perspective, strengthening PPC’s presence in the region. We remain focused on transforming PPC and delivering on our business plan, meeting our 2024 dividend commitment based on 2023 earnings. Regarding the acquisition agreement in Romania, we are focused on completing the transaction by the third quarter of 2023, after which we will present an updated strategic plan on Capital Markets Day,” said Georgios Stassis, President and CEO of PPC.

Article based on the CPR