View ValuationPublic Power 향후 성장Future 기준 점검 3/6Public Power (는) 각각 연간 19.3% 및 5.4% 수익과 수익이 증가할 것으로 예상됩니다. EPS는 연간 16.9% 만큼 성장할 것으로 예상됩니다. 자기자본이익률은 3년 후 10.1% 로 예상됩니다.핵심 정보19.3%이익 성장률16.88%EPS 성장률Electric Utilities 이익 성장7.7%매출 성장률5.4%향후 자기자본이익률10.07%애널리스트 커버리지Low마지막 업데이트19 May 2026최근 향후 성장 업데이트업데이트 없음모든 업데이트 보기Recent updates공시 • May 21Public Power Corporation S.A. has completed a Follow-on Equity Offering in the amount of €4.25 billion.Public Power Corporation S.A. has completed a Follow-on Equity Offering in the amount of €4.25 billion. Security Name: Ordinary Shares Security Type: Common Stock Securities Offered: 193,907,675 Price\Range: €18.63 Security Name: Ordinary Shares Security Type: Common Stock Securities Offered: 34,219,002 Price\Range: €18.63 Transaction Features: Rule 144ABuy Or Sell Opportunity • May 14Now 88% undervalued after recent price dropOver the last 90 days, the stock has fallen 88% to €2.27. The fair value is estimated to be €18.83, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has grown by 5.6%. Revenue is forecast to grow by 7.6% in 2 years. Earnings are forecast to grow by 74% in the next 2 years.Buy Or Sell Opportunity • Apr 29Now 88% undervalued after recent price dropOver the last 90 days, the stock has fallen 88% to €2.27. The fair value is estimated to be €18.21, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 2.8% over the last 3 years. Meanwhile, the company has become profitable. For the next 3 years, revenue is forecast to decline by 0.7% per annum. Earnings are forecast to grow by 30% per annum over the same time period.Buy Or Sell Opportunity • Apr 14Now 87% undervalued after recent price dropOver the last 90 days, the stock has fallen 87% to €2.27. The fair value is estimated to be €17.22, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 2.8% over the last 3 years. Meanwhile, the company has become profitable. For the next 3 years, revenue is forecast to decline by 0.4% per annum. Earnings are forecast to grow by 30% per annum over the same time period.New Risk • Apr 14New minor risk - Earnings qualityThe company has large one-off items impacting its financial results. One-off items were 23% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (2.5x net interest cover). Minor Risks Paying a dividend despite having no free cash flows. Large one-off items impacting financial results.Buy Or Sell Opportunity • Mar 30Now 88% undervalued after recent price dropOver the last 90 days, the stock has fallen 87% to €2.27. The fair value is estimated to be €19.36, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 2.8% over the last 3 years. Meanwhile, the company has become profitable. For the next 3 years, revenue is forecast to decline by 0.4% per annum. Earnings are forecast to grow by 30% per annum over the same time period.Declared Dividend • Mar 23Dividend increased to €0.60Dividend of €0.60 is 50% higher than last year. Ex-date: 20th July 2026 Payment date: 24th July 2026 Dividend yield will be 3.4%, which is lower than the industry average of 4.3%. Sustainability & Growth Dividend is covered by earnings (71% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 28% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 93% over the next 2 years, which should provide support to the dividend and adequate earnings cover.New Risk • Mar 21New major risk - Financial positionThe company's interest payments are not well covered by earnings. Net interest cover: 2.0x This is considered a major risk. If the company is unable to fund interest repayments on its debt through profits, it may be forced into reducing its debt burden through selling assets, undertaking a potentially costly capital raising or even into bankruptcy in the worst case scenario. This is currently the only risk that has been identified for the company.Reported Earnings • Mar 21Full year 2025 earnings released: EPS: €0.85 (vs €0.43 in FY 2024)Full year 2025 results: EPS: €0.85 (up from €0.43 in FY 2024). Revenue: €9.70b (up 8.0% from FY 2024). Net income: €295.0m (up 94% from FY 2024). Profit margin: 3.0% (up from 1.7% in FY 2024). The increase in margin was driven by higher revenue. Revenue is expected to decline by 1.6% p.a. on average during the next 2 years, while revenues in the Electric Utilities industry in Europe are expected to grow by 3.6%. Over the last 3 years on average, earnings per share has increased by 12% per year but the company’s share price has increased by 31% per year, which means it is tracking significantly ahead of earnings growth.공시 • Mar 20Public Power Corporation S.A. announces Annual dividend, payable on July 24, 2026Public Power Corporation S.A. announced Annual dividend of EUR 0.6000 per share payable on July 24, 2026, ex-date on July 20, 2026 and record date on July 21, 2026.Buy Or Sell Opportunity • Mar 09Now 83% undervalued after recent price dropOver the last 90 days, the stock has fallen 87% to €2.27. The fair value is estimated to be €13.21, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 5.3% over the last 3 years. Meanwhile, the company has become profitable. For the next 3 years, revenue is forecast to decline by 0.2% per annum. Earnings are forecast to grow by 21% per annum over the same time period.Buy Or Sell Opportunity • Feb 20Now 81% undervalued after recent price dropOver the last 90 days, the stock has fallen 87% to €2.27. The fair value is estimated to be €12.01, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 5.3% over the last 3 years. Meanwhile, the company has become profitable. For the next 3 years, revenue is forecast to decline by 0.2% per annum. Earnings are forecast to grow by 20% per annum over the same time period.Buy Or Sell Opportunity • Feb 04Now 79% undervalued after recent price dropOver the last 90 days, the stock has fallen 86% to €2.27. The fair value is estimated to be €10.82, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 5.3% over the last 3 years. Meanwhile, the company has become profitable. For the next 3 years, revenue is forecast to decline by 0.2% per annum. Earnings are forecast to grow by 20% per annum over the same time period.공시 • Jan 26+ 4 more updatesPublic Power Corporation S.A., Annual General Meeting, Jun 22, 2026Public Power Corporation S.A., Annual General Meeting, Jun 22, 2026.Buy Or Sell Opportunity • Jan 18Now 22% overvalued after recent price riseOver the last 90 days, the stock has risen 29% to €18.44. The fair value is estimated to be €15.16, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 5.3% over the last 3 years. Meanwhile, the company has become profitable. Revenue is forecast to decline by 4.7% in 2 years. Earnings are forecast to grow by 90% in the next 2 years.Reported Earnings • Nov 21Third quarter 2025 earnings released: EPS: €0.60 (vs €0.008 loss in 3Q 2024)Third quarter 2025 results: EPS: €0.60 (up from €0.008 loss in 3Q 2024). Revenue: €2.62b (up 2.6% from 3Q 2024). Net income: €212.0m (up €214.9m from 3Q 2024). Profit margin: 8.1% (up from net loss in 3Q 2024). Revenue is expected to decline by 2.5% p.a. on average during the next 3 years, while revenues in the Electric Utilities industry in Europe are expected to grow by 3.0%.Buy Or Sell Opportunity • Oct 30Now 22% overvalued after recent price riseOver the last 90 days, the stock has risen 6.3% to €15.20. The fair value is estimated to be €12.41, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 3.9% over the last 3 years. Meanwhile, the company has become profitable. Revenue is forecast to decline by 5.5% in 2 years. Earnings are forecast to grow by 291% in the next 2 years.Declared Dividend • Jun 24Dividend increased to €0.40Dividend of €0.40 is 60% higher than last year. Ex-date: 21st July 2025 Payment date: 25th July 2025 Dividend yield will be 18%, which is higher than the industry average of 4.3%. Sustainability & Growth Dividend is not adequately covered by earnings (93% earnings payout ratio) and the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 23% per year over the past 10 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to grow by 3.3% to bring the payout ratio under control. EPS is expected to grow by 135% over the next 3 years, which is sufficient to bring the dividend into a sustainable range.Declared Dividend • May 30Dividend increased to €0.40Dividend of €0.40 is 60% higher than last year. Ex-date: 21st July 2025 Payment date: 25th July 2025 Dividend yield will be 18%, which is higher than the industry average of 4.3%. Sustainability & Growth Dividend is not adequately covered by earnings (93% earnings payout ratio) and the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 23% per year over the past 10 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to grow by 3.3% to bring the payout ratio under control. EPS is expected to grow by 142% over the next 3 years, which is sufficient to bring the dividend into a sustainable range.공시 • May 21Public Power Corporation S.A., Annual General Meeting, Jun 25, 2025Public Power Corporation S.A., Annual General Meeting, Jun 25, 2025, at 12:00 GTB Standard Time. Location: be conducted remotely in real time via, the venue, GreeceBoard Change • Apr 02Less than half of directors are independentFollowing the recent departure of a director, there are only 4 independent directors on the board. The company's board is composed of: 4 independent directors. 5 non-independent directors. Independent Non-Executive Vice Chairman Pyrros Papadimitriou was the last independent director to join the board, commencing their role in 2019. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model.Declared Dividend • Apr 01Dividend increased to €0.40Dividend of €0.40 is 60% higher than last year. Ex-date: 21st July 2025 Payment date: 25th July 2025 Dividend yield will be 2.8%, which is lower than the industry average of 4.3%. Sustainability & Growth Dividend is not adequately covered by earnings (93% earnings payout ratio) and the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 23% per year over the past 10 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to grow by 3.3% to bring the payout ratio under control. EPS is expected to grow by 135% over the next 3 years, which is sufficient to bring the dividend into a sustainable range.공시 • Mar 27Public Power Corporation S.A. announces Annual dividend, payable on July 25, 2025Public Power Corporation S.A. announced Annual dividend of EUR 0.4000 per share payable on July 25, 2025, ex-date on July 21, 2025 and record date on July 22, 2025.Reported Earnings • Mar 27Full year 2024 earnings released: EPS: €0.43 (vs €1.16 in FY 2023)Full year 2024 results: EPS: €0.43 (down from €1.16 in FY 2023). Revenue: €8.98b (up 17% from FY 2023). Net income: €151.8m (down 65% from FY 2023). Profit margin: 1.7% (down from 5.6% in FY 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to stay flat during the next 3 years compared to a 1.7% growth forecast for the Electric Utilities industry in Europe. Over the last 3 years on average, earnings per share has increased by 79% per year but the company’s share price has fallen by 33% per year, which means it is significantly lagging earnings.공시 • Jan 22+ 3 more updatesPublic Power Corporation S.A. to Report Nine Months, 2025 Results on Nov 04, 2025Public Power Corporation S.A. announced that they will report nine months, 2025 results on Nov 04, 2025공시 • Oct 29PPC Renewables S.A. acquired 629MW RES Romanian portfolio from Evryo Power S.A.PPC Renewables S.A. entered into a binding agreement to acquire 629MW RES Romanian portfolio from Evryo Power S.A.. for an enterprise value of €700 million on August 6, 2024. The funding of the transaction is structured to be compatible with PPC Group’s financial policy, to remain well within Group’s target leverage ceiling. Upon completion, PPC Group will add an estimated EBITDA of €100 million. The closing of the Acquisition is expected to occur by the fourth quarter of 2024, and will be subject to certain conditions precedent customary for this kind of transaction, including, among others, clearance from the relevant antitrust authorities. on an annual basis. The acquisition further strengthens PPC Group’s growth strategy in Romania and Southeast Europe, with the addition of a significant renewables operating portfolio, including 600MW onshore wind, 22MW hydro, 6MW BESS, 1MW solar PV installed capacity, and about 145MW pipeline assets. Upon completion of the agreement, PPC’s RES portfolio in operation in Romania will double and total RES of PPC Group in operation will reach 5.3GW. Citigroup Global Markets Europe AG acted as financial advisor for PPC Renewables S.A. Euroxx Securities S.A. acted as financial advisor for PPC Renewables S.A. Badea Clifford Chance acted as legal advisor to Public Power Corporation S.A. PPC Renewables S.A. completed the acquisition of 629MW RES Romanian portfolio from Evryo Power S.A. on October 28, 2024. The antitrust has approved the transaction.공시 • Oct 25Public Power Corporation S.A. to Report Q3, 2024 Results on Nov 14, 2024Public Power Corporation S.A. announced that they will report Q3, 2024 results After-Market on Nov 14, 2024공시 • Sep 27Public Power Corporation S.A. (ATSE:PPC) entered into an agreement collaboration framework to acquire 66.6 MW RES in operation and 1.7 GW under development in Greece from COPELOUZOS GROUP and Samaras Group for €110 million.Public Power Corporation S.A. (ATSE:PPC) entered into an agreement collaboration framework to acquire 66.6 MW RES in operation and 1.7 GW under development in Greece from COPELOUZOS GROUP and Samaras Group for €110 million on September 25, 2024. PPC Group is expected to offer for the consideration a combination of cash and own shares, with a sale price of €12.21 which was derived from the higher of the 6-month weighted average price and the spot price at the close of September 24, 2024. The signing of the final sale and purchase agreements as well as the final shareholders agreements is expected to be completed on December 31, 2024. PricewaterhouseCoopers Business Solutions S.A. acted as financial advisor for Public Power Corporation S.A. Vizas - Katrinakis and Associates acted as legal advisor for Public Power Corporation S.A. Lambadarios Law Firm acted as legal advisor for Public Power Corporation S.A.공시 • Aug 01Public Power Corporation S.A. to Report First Half, 2024 Results on Aug 06, 2024Public Power Corporation S.A. announced that they will report first half, 2024 results on Aug 06, 2024Upcoming Dividend • Jul 16Upcoming dividend of €0.25 per shareEligible shareholders must have bought the stock before 22 July 2024. Payment date: 26 July 2024. Payout ratio is a comfortable 22% and this is well supported by cash flows. Trailing yield: 2.2%. Lower than top quartile of British dividend payers (5.5%). Lower than average of industry peers (4.9%).Reported Earnings • May 21First quarter 2024 earnings released: EPS: €0.11 (vs €0.14 in 1Q 2023)First quarter 2024 results: EPS: €0.11 (down from €0.14 in 1Q 2023). Revenue: €1.94b (down 2.8% from 1Q 2023). Net income: €40.2m (down 27% from 1Q 2023). Profit margin: 2.1% (down from 2.8% in 1Q 2023). Revenue is forecast to grow 1.4% p.a. on average during the next 3 years, compared to a 1.1% growth forecast for the Electric Utilities industry in Europe. Over the last 3 years on average, earnings per share has increased by 105% per year but the company’s share price has only increased by 8% per year, which means it is significantly lagging earnings growth.Valuation Update With 7 Day Price Move • May 14Investor sentiment deteriorates as stock falls 80%After last week's 80% share price decline to €2.27, the stock trades at a forward P/E ratio of 13x. Average forward P/E is 13x in the Electric Utilities industry in Europe. Total loss to shareholders of 75% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €1.51 per share.공시 • May 03Public Power Corporation S.A. to Report Q1, 2024 Results on May 20, 2024Public Power Corporation S.A. announced that they will report Q1, 2024 results at 1:00 PM, GTB Standard Time on May 20, 2024공시 • Apr 11Public Power Corporation S.A. (ATSE:PPC) completed the acquisition of DSGi South-East Europe A.E.V.E. from Currys plc (LSE:CURY).Public Power Corporation S.A. (ATSE:PPC) signed an agreement to acquire DSGi South-East Europe A.E.V.E. from Currys plc (LSE:CURY) for an enterprise value of €200 million on November 2, 2023. The consideration corresponds the value on a debt free, cash free basis and excluding IFRS 16 lease liabilities. Under the terms of consideration, the enterprise value of €200 million (£175 million), adjusted to include lease liabilities of €97 million (£85 million) as at 29 April 2023, implies a multiple of 6x adjusted EBITDA1 of €49 million (£43 million) and 14x adjusted EBIT[1]of €21 million (£18 million). Net cash proceeds of the disposal are expected to be approximately £156 million (€179 million) at completion, after taking into account transaction and separation costs, intercompany balances and cash in the business. The Consideration is payable in full and in cash on the date of Completion. Following the agreed terms, the Currys board of directors ("Board") believes the proposed Disposal has strong strategic rationale and represents an attractive outcome for the Company's shareholders ("Shareholders"). Following Completion, the Continuing Group intends to pursue its strategy of delivering value for all stakeholders centred around its four strategic priorities: (i) Capable & Committed Colleagues; (ii) Easy to Shop; (iii) Customers for Life; and (iv) Grow Profits. Management's objective remains to achieve at least a 3% adjusted EBIT margin with a solid balance sheet that enables healthy returns to shareholders. Following Completion, the Continuing Group will consist of the Company's UK and Ireland and Nordics business segments. Kotsovoloas has It has 95 stores, in Greece and Cyprus, of which 27 are megastores. PPC intends to finance the acquisition through own funds. The closing of the transaction is subject to certain conditions precedent, customary for these kinds of transactions, including the approval of shareholders at the General Meeting of Currys plc and obtaining a merger clearance approval from the European Commission or the Hellenic Competition Commission, obtaining a Foreign Subsidies Regulation clearance following a filing from the Purchaser before the European Commission or an ex officio investigation by the European Commission, obtaining third party consents to the Disposal from counterparties to certain contracts to which Kotsovolos is a party. The Disposal was unanimously agreed by the Board to be in the best interests of Shareholders. The transaction is expected to take place in the first quarter of 2024. The Board expects to update Shareholders on this strategic progress when it announces the Company's interim results in December 2023. In the short term, the Board intends to use the proceeds to reduce net debt and then at the appropriate time, following peak trading, enter discussions with pension trustees regarding the potential to reduce the pension fund's accounting net deficit and required future contributions. Reducing indebtedness may also provide, at the appropriate time, the Group with greater flexibility to invest to grow the business, after which Currys will also explore the potential to return any surplus capital to Shareholders. This will initially involve using proceeds to reduce net debt, and then at the appropriate time entering into discussions with the pension trustees regarding the funding for the pension scheme. As on March 5, 2024, Hellenic Competition Commission approved the deal. As on March 8, 2024, the transaction is expected to complete in first half of April. PricewaterhouseCoopers Business Solutions S.A. (PwC) is acting as financial advisor and Vizas - Katrinakis and Associates Law Firm as legal advisor to PPC in connection with the acquisition. Andrew Seaton and Robert Farrington of Citigroup Global Markets Limited ("Citi") is acting as sponsor and sole financial advisor to Currys on the Disposal. Natasha Good and Tom Godwin of Freshfields advised Currys. Public Power Corporation S.A. (ATSE:PPC) completed the acquisition of DSGi South-East Europe A.E.V.E. from Currys plc (LSE:CURY) for an enterprise value of €200 million on April 10, 2024. The cash proceeds received by Currys were €179 million (£156 million) after taking into account transaction and separation costs, intercompany balances and cash in the business. On completion, it is the Board's intention to use the net cash proceeds to reduce net debt and the Group expects to finish the year in a net cash position.Reported Earnings • Apr 10Full year 2023 earnings released: EPS: €1.16 (vs €0.05 loss in FY 2022)Full year 2023 results: EPS: €1.16 (up from €0.05 loss in FY 2022). Revenue: €7.69b (down 32% from FY 2022). Net income: €428.3m (up €447.3m from FY 2022). Profit margin: 5.6% (up from net loss in FY 2022). Revenue is forecast to decline by 4.8% p.a. on average during the next 2 years, while revenues in the Electric Utilities industry in Europe are expected to remain flat. Over the last 3 years on average, earnings per share has increased by 98% per year but the company’s share price has only increased by 5% per year, which means it is significantly lagging earnings growth.공시 • Apr 01Public Power Corporation S.A. to Report Fiscal Year 2023 Results on Apr 09, 2024Public Power Corporation S.A. announced that they will report fiscal year 2023 results at 1:00 PM, GTB Standard Time on Apr 09, 2024공시 • Nov 05Public Power Corporation S.A. (ATSE:PPC) signed an agreement to acquire DSGi South-East Europe A.E.V.E. for an enterprise value of €200 million.Public Power Corporation S.A. (ATSE:PPC) signed an agreement to acquire DSGi South-East Europe A.E.V.E. for an enterprise value of €200 million on November 3, 2023. The consideration corresponds the value on a debt free, cash free basis and excluding IFRS 16 lease liabilities. Under the terms of consideration, the enterprise value of €200 million (£175 million), adjusted to include lease liabilities of €97 million (£85 million) as at 29 April 2023, implies a multiple of 6x adjusted EBITDA1 of €49 million (£43 million) and 14x adjusted EBIT[1]of €21 million (£18 million). Net cash proceeds of the disposal are expected to be approximately £156 million (€179 million) at completion, after taking into account transaction and separation costs, intercompany balances and cash in the business. The Consideration is payable in full and in cash on the date of Completion. Following the agreed terms, the Currys board of directors ("Board") believes the proposed Disposal has strong strategic rationale and represents an attractive outcome for the Company's shareholders ("Shareholders"). Following Completion, the Continuing Group intends to pursue its strategy of delivering value for all stakeholders centred around its four strategic priorities: (i) Capable & Committed Colleagues; (ii) Easy to Shop; (iii) Customers for Life; and (iv) Grow Profits. Management's objective remains to achieve at least a 3% adjusted EBIT margin with a solid balance sheet that enables healthy returns to shareholders. Following Completion, the Continuing Group will consist of the Company's UK and Ireland and Nordics business segments. Kotsovoloas has It has 95 stores, in Greece and Cyprus, of which 27 are megastores. PPC intends to finance the acquisition through own funds. The closing of the transaction is subject to certain conditions precedent, customary for these kinds of transactions, including the approval of shareholders at the General Meeting of Currys plc and obtaining a merger clearance approval from the European Commission or the Hellenic Competition Commission, obtaining a Foreign Subsidies Regulation clearance following a filing from the Purchaser before the European Commission or an ex officio investigation by the European Commission, obtaining third party consents to the Disposal from counterparties to certain contracts to which Kotsovolos is a party. The Disposal was unanimously agreed by the Board to be in the best interests of Shareholders. The transaction is expected to take place in the first quarter of 2024. The Board expects to update Shareholders on this strategic progress when it announces the Company's interim results in December 2023. In the short term, the Board intends to use the proceeds to reduce net debt and then at the appropriate time, following peak trading, enter discussions with pension trustees regarding the potential to reduce the pension fund's accounting net deficit and required future contributions. Reducing indebtedness may also provide, at the appropriate time, the Group with greater flexibility to invest to grow the business, after which Currys will also explore the potential to return any surplus capital to Shareholders. This will initially involve using proceeds to reduce net debt, and then at the appropriate time entering into discussions with the pension trustees regarding the funding for the pension scheme.PricewaterhouseCoopers Business Solutions S.A. (PwC) is acting as financial advisor and Vizas - Katrinakis and Associates Law Firm as legal advisor to PPC in connection with the acquisition. Andrew Seaton and Robert Farrington of Citigroup Global Markets Limited ("Citi") is acting as sponsor and sole financial advisor to Currys on the Disposal.공시 • Oct 27Public Power Corporation S.A. (ATSE:PPC) completed the acquisition of Enel assets in Romania from Enel SpA (BIT:ENEL) for approximately €1.2 billion.Public Power Corporation S.A. (ATSE:PPC) signed an exclusivity agreement to acquire Enel assets in Romania from Enel SpA (BIT:ENEL) on December 14, 2022. Public Power Corporation S.A. (ATSE:PPC) signed an agreement to acquire Enel assets in Romania from Enel SpA (BIT:ENEL) for approximately €1.3 billion on March 9, 2023. In addition, the total consideration is subject to adjustments customary for these kinds of transactions as well as to an earn-out mechanism for a potential additional payment based on the future value of the retail business. PPC intends to finance the Acquisition with a combination of debt and cash on balance sheet, with €800 million of committed debt financing in the form of a €485 million 5-year term loan facility through Greek banks and a €315 million bridge facility through international banks. The transaction is subject to due diligence and approval by antitrust authorities. As of February 4, 2023, the exclusivity period for negotiations has been extended until February 28, 2023. As of June 26, 2023 European Commission approved the transaction. The transaction is expected to close in third quarter of 2023. Citigroup Global Markets Europe AG, Goldman Sachs Bank Europe SE, HSBC Continental Europe acted as financial advisors, S.A, Lisa O’Neill, Apostolos Gkoutzinis, Andrew Reilly, Trevor Truman, and Alan Rafferty of Milbank LLP acted as a legal advisor, Cornelia Bumbacea, Andreea Bistriceanu, Andreea Oprescu, Laura Paraschiv, Andreea Puiu, Daniel Anghel, Ruxandra Târlescu, Adina Vizoli, oana Bara, Ludmila Petrescu, Claudiu Simionescu, and Anca Lungeanu of PwC Romania, PwC Greece and Anda Rojanschi, Cristina Paduraru and Ovidiu Bold of D&B David si Baias experts provided due diligence, tax structuring advice and support on the complex financial and tax aspects of the transaction documents, as well as legal advice to Public Power Corporation S.A. (ATSE:PPC). Clifford Chance LLP acted as legal advisor to Enel SpA in the transcation.Public Power Corporation S.A. (ATSE:PPC) completed the acquisition of Enel assets in Romania from Enel SpA (BIT:ENEL) for approximately €1.2 billion on October 25, 2023. Following the fulfillment of all the conditions precedent customary for these kinds of transactions set forth in the related sale agreement closed the transaction. AXIA Ventures Group and Euroxx Securities SA acted as financial advisors to PPC.Valuation Update With 7 Day Price Move • Oct 19Investor sentiment deteriorates as stock falls 77%After last week's 77% share price decline to €2.27, the stock trades at a forward P/E ratio of 16x. Average forward P/E is 12x in the Electric Utilities industry in Europe.Valuation Update With 7 Day Price Move • Sep 26Investor sentiment deteriorates as stock falls 79%After last week's 79% share price decline to €2.27, the stock trades at a forward P/E ratio of 17x. Average forward P/E is 13x in the Electric Utilities industry in Europe.Reported Earnings • Aug 04Second quarter 2023 earnings released: EPS: €0.32 (vs €0.45 in 2Q 2022)Second quarter 2023 results: EPS: €0.32 (down from €0.45 in 2Q 2022). Revenue: €1.59b (down 26% from 2Q 2022). Net income: €120.6m (down 29% from 2Q 2022). Profit margin: 7.6% (down from 8.0% in 2Q 2022). The decrease in margin was driven by lower revenue. Revenue is expected to fall by 20% p.a. on average during the next 3 years compared to a 4.0% decline forecast for the Electric Utilities industry in Europe. Over the last 3 years on average, earnings per share has increased by 139% per year but the company’s share price has only increased by 45% per year, which means it is significantly lagging earnings growth.Valuation Update With 7 Day Price Move • Jun 02Investor sentiment improves as stock rises 22%After last week's 22% share price gain to €9.91, the stock trades at a forward P/E ratio of 20x. Average forward P/E is 14x in the Electric Utilities industry in Europe.Board Change • Aug 09High number of new directorsIndependent Non Executive Director Michalis Panagiotakis was the last director to join the board, commencing their role in 2020.Board Change • Jul 04High number of new directorsThere are 5 new directors who have joined the board in the last 3 years. Independent Non Executive Director Michalis Panagiotakis was the last director to join the board, commencing their role in 2020. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model.Board Change • Jun 06High number of new directorsThere are 5 new directors who have joined the board in the last 3 years. Independent Non Executive Director Michalis Panagiotakis was the last director to join the board, commencing their role in 2020. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model.Board Change • Apr 28High number of new directorsThere are 6 new directors who have joined the board in the last 3 years. Independent Non Executive Director Michalis Panagiotakis was the last director to join the board, commencing their role in 2020. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model.Reported Earnings • Apr 08Full year 2021 earnings released: €0.048 loss per share (vs €0.084 profit in FY 2020)Full year 2021 results: €0.048 loss per share (down from €0.084 profit in FY 2020). Revenue: €5.71b (up 23% from FY 2020). Net loss: €18.4m (down 195% from profit in FY 2020). Over the next year, revenue is forecast to decline by 11% while the industry in the United Kingdom is not expected to grow.Board Change • Feb 17High number of new directorsThere are 6 new directors who have joined the board in the last 3 years. Independent Non Executive Director Michalis Panagiotakis was the last director to join the board, commencing their role in 2020. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model.Board Change • Jan 14High number of new directorsThere are 6 new directors who have joined the board in the last 3 years. Independent Non Executive Director Michalis Panagiotakis was the last director to join the board, commencing their role in 2020. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model.Board Change • Dec 10High number of new directorsThere are 8 new directors who have joined the board in the last 3 years. Independent Non Executive Director Michalis Panagiotakis was the last director to join the board, commencing their role in 2020. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model.Reported Earnings • Dec 01Third quarter 2021 earnings: EPS in line with analyst expectations despite revenue beatThird quarter 2021 results: €0.30 loss per share (down from €0.071 loss in 3Q 2020). Revenue: €1.50b (up 18% from 3Q 2020). Net loss: €69.1m (loss widened 319% from 3Q 2020). Revenue exceeded analyst estimates by 2.0%. Over the next year, revenue is forecast to grow 2.9%, compared to a 7.9% growth forecast for the industry in the United Kingdom.Valuation Update With 7 Day Price Move • Nov 11Investor sentiment deteriorated over the past weekAfter last week's 76% share price decline to €2.27, the stock trades at a forward P/E ratio of 214x. Average forward P/E is 14x in the Electric Utilities industry in Europe. Total loss to shareholders of 59% over the past year.Valuation Update With 7 Day Price Move • Oct 27Investor sentiment deteriorated over the past weekAfter last week's 72% share price decline to €2.27, the stock trades at a forward P/E ratio of 13x. Average forward P/E is 13x in the Electric Utilities industry in Europe.Board Change • Oct 27Less than half of directors are independentThere are 9 new directors who have joined the board in the last 3 years. Of these new board members, 5 were independent directors. The company's board is composed of: 9 new directors. No experienced directors. 2 highly experienced directors. 5 independent directors (6 non-independent directors). Employee Representative Non-Executive Director Pantelis Karaleftheris is the most experienced director on the board, commencing their role in 2013. Independent Non Executive Director Michalis Panagiotakis was the last independent director to join the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Lack of experienced directors.Board Change • Oct 27Less than half of directors are independentThere are 9 new directors who have joined the board in the last 3 years. Of these new board members, 5 were independent directors. The company's board is composed of: 9 new directors. No experienced directors. 2 highly experienced directors. 5 independent directors (6 non-independent directors). Employee Representative Non-Executive Director Pantelis Karaleftheris is the most experienced director on the board, commencing their role in 2013. Independent Non Executive Director Michalis Panagiotakis was the last independent director to join the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Lack of experienced directors.Valuation Update With 7 Day Price Move • Sep 30Investor sentiment deteriorated over the past weekAfter last week's 15% share price decline to €8.05, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 13x in the Electric Utilities industry in Europe.Reported Earnings • Sep 24Second quarter 2021 earnings released: EPS €0.30 (vs €0.17 in 2Q 2020)The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: €1.08b (up 4.7% from 2Q 2020). Net income: €70.6m (up 75% from 2Q 2020). Profit margin: 6.5% (up from 3.9% in 2Q 2020). Over the last 3 years on average, earnings per share has increased by 23% per year but the company’s share price has only increased by 11% per year, which means it is significantly lagging earnings growth.Board Change • Sep 15Less than half of directors are independentThere are 9 new directors who have joined the board in the last 3 years. Of these new board members, 5 were independent directors. The company's board is composed of: 9 new directors. No experienced directors. 2 highly experienced directors. 5 independent directors (6 non-independent directors). Employee Representative Non-Executive Director Pantelis Karaleftheris is the most experienced director on the board, commencing their role in 2013. Independent Non Executive Director Michalis Panagiotakis was the last independent director to join the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Lack of experienced directors.Reported Earnings • Apr 24Full year 2020 earnings released: EPS €0.15 (vs €7.27 loss in FY 2019)The company reported a decent full year result with improved earnings and profit margins, although revenues were weaker. Full year 2020 results: Revenue: €4.65b (down 5.7% from FY 2019). Net income: €35.2m (up €1.72b from FY 2019). Profit margin: 0.8% (up from net loss in FY 2019). Over the last 3 years on average, earnings per share has fallen by 34% per year but the company’s share price has increased by 50% per year, which means it is well ahead of earnings.Analyst Estimate Surprise Post Earnings • Dec 04Revenue beats expectationsRevenue exceeded analyst estimates by 0.5%. Over the next year, revenue is expected to shrink by 6.7% compared to a 13% growth forecast for the Electric Utilities industry in the United Kingdom.Reported Earnings • Dec 04Third quarter 2020 earnings released: €0.071 loss per shareThe company reported a decent third quarter result with reduced losses and improved control over expenses, although revenues were weaker. Third quarter 2020 results: Revenue: €1.27b (down 2.5% from 3Q 2019). Net loss: €16.5m (loss narrowed 79% from 3Q 2019). Over the last 3 years on average, earnings per share has fallen by 57% per year but the company’s share price has increased by 54% per year, which means it is well ahead of earnings.이익 및 매출 성장 예측LSE:0MC5 - 애널리스트 향후 추정치 및 과거 재무 데이터 (EUR Millions)날짜매출이익자유현금흐름영업현금흐름평균 애널리스트 수12/31/202811,1318684492,660312/31/202710,570713-1272,549512/31/202610,645661-7262,39343/31/20269,576459-7311,524N/A12/31/20259,701295-5191,778N/A9/30/20259,665368-5621,745N/A6/30/20259,598153-6701,570N/A3/31/20259,506146-2991,729N/A12/31/20248,979152-1961,679N/A9/30/20248,7463253881,965N/A6/30/20248,1313871,0172,446N/A3/31/20247,6304141,0062,302N/A12/31/20237,6874383381,506N/A9/30/20238,2143886031,637N/A6/30/202310,4431742531,142N/A3/31/202310,9992243931,173N/A12/31/202211,253-19-535151N/A9/30/202210,571-157-1,802-1,232N/A6/30/20227,905-63-1,654-1,163N/A3/31/20226,840-163-1,563-935N/A12/31/20215,706-18194632N/A9/30/20214,827-2081709N/A6/30/20214,59317581976N/A3/31/20214,5453467817N/A12/31/20204,64919483884N/A9/30/20204,844-1,320N/AN/AN/A6/30/20204,876-1,382518901N/A3/31/20205,012-1,479N/AN/AN/A12/31/20194,932-1,686N/A623N/A9/30/20194,861-321N/AN/AN/A6/30/20194,836-645N/A682N/A3/31/20194,745-736N/AN/AN/A12/31/20184,742-904N/A1,140N/A9/30/20184,790-84N/AN/AN/A6/30/20184,795-365N/A764N/A3/31/20184,866199N/AN/AN/A12/31/20174,943128N/A177N/A9/30/20174,947136N/AN/AN/A6/30/20174,86098N/A468N/A3/31/20175,17828N/AN/AN/A12/31/20165,130170N/A1,191N/A9/30/20165,324-39N/AN/AN/A6/30/20165,426-193N/A1,357N/A3/31/20165,600-73N/AN/AN/A12/31/20155,709-118N/A1,162N/A9/30/20155,892-25N/A1,012N/A6/30/20155,943101N/A1,003N/A더 보기애널리스트 향후 성장 전망수입 대 저축률: 0MC5 의 연간 예상 수익 증가율(19.3%)이 saving rate(3.4%)보다 높습니다.수익 vs 시장: 0MC5 의 연간 수익(19.3%)이 UK 시장(11.5%)보다 빠르게 성장할 것으로 예상됩니다.고성장 수익: 0MC5 의 수입은 증가할 것으로 예상되지만 상당히 증가하지는 않을 것입니다.수익 대 시장: 0MC5 의 수익(연간 5.4%)이 UK 시장(연간 4.5%)보다 빠르게 성장할 것으로 예상됩니다.고성장 매출: 0MC5 의 수익(연간 5.4%)은 연간 20%보다 느리게 증가할 것으로 예상됩니다.주당순이익 성장 예측향후 자기자본이익률미래 ROE: 0MC5의 자본 수익률은 3년 후 10.1%로 낮을 것으로 예상됩니다.성장 기업 찾아보기7D1Y7D1Y7D1YUtilities 산업의 고성장 기업.View Past Performance기업 분석 및 재무 데이터 상태데이터최종 업데이트 (UTC 시간)기업 분석2026/05/24 18:15종가2026/05/22 00:00수익2026/03/31연간 수익2025/12/31데이터 소스당사의 기업 분석에 사용되는 데이터는 S&P Global Market Intelligence LLC에서 제공됩니다. 아래 데이터는 이 보고서를 생성하기 위해 분석 모델에서 사용됩니다. 데이터는 정규화되므로 소스가 제공된 후 지연이 발생할 수 있습니다.패키지데이터기간미국 소스 예시 *기업 재무제표10년손익계산서현금흐름표대차대조표SEC 양식 10-KSEC 양식 10-Q분석가 컨센서스 추정치+3년재무 예측분석가 목표주가분석가 리서치 보고서Blue Matrix시장 가격30년주가배당, 분할 및 기타 조치ICE 시장 데이터SEC 양식 S-1지분 구조10년주요 주주내부자 거래SEC 양식 4SEC 양식 13D경영진10년리더십 팀이사회SEC 양식 10-KSEC 양식 DEF 14A주요 개발10년회사 공시SEC 양식 8-K* 미국 증권에 대한 예시이며, 비(非)미국 증권에는 해당 국가의 규제 서식 및 자료원을 사용합니다.별도로 명시되지 않는 한 모든 재무 데이터는 연간 기간을 기준으로 하지만 분기별로 업데이트됩니다. 이를 TTM(최근 12개월) 또는 LTM(지난 12개월) 데이터라고 합니다. 자세히 알아보기.분석 모델 및 스노우플레이크이 보고서를 생성하는 데 사용된 분석 모델에 대한 자세한 내용은 당사의 Github 페이지에서 확인하실 수 있습니다. 또한 보고서 활용 방법에 대한 가이드와 YouTube 튜토리얼도 제공합니다.Simply Wall St 분석 모델을 설계하고 구축한 세계적 수준의 팀에 대해 알아보세요.산업 및 섹터 지표산업 및 섹터 지표는 Simply Wall St가 6시간마다 계산하며, 프로세스에 대한 자세한 내용은 Github에서 확인할 수 있습니다.분석가 소스Public Power Corporation S.A.는 15명의 분석가가 다루고 있습니다. 이 중 5명의 분석가가 우리 보고서에 입력 데이터로 사용되는 매출 또는 수익 추정치를 제출했습니다. 분석가의 제출 자료는 하루 종일 업데이트됩니다.분석가기관Constantinos ZouzoulasAxia Ventures Group LtdManos ChatzidakisBeta Securities S.A.Stefano BezzatoBofA Global Research12명의 분석가 더 보기
공시 • May 21Public Power Corporation S.A. has completed a Follow-on Equity Offering in the amount of €4.25 billion.Public Power Corporation S.A. has completed a Follow-on Equity Offering in the amount of €4.25 billion. Security Name: Ordinary Shares Security Type: Common Stock Securities Offered: 193,907,675 Price\Range: €18.63 Security Name: Ordinary Shares Security Type: Common Stock Securities Offered: 34,219,002 Price\Range: €18.63 Transaction Features: Rule 144A
Buy Or Sell Opportunity • May 14Now 88% undervalued after recent price dropOver the last 90 days, the stock has fallen 88% to €2.27. The fair value is estimated to be €18.83, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has grown by 5.6%. Revenue is forecast to grow by 7.6% in 2 years. Earnings are forecast to grow by 74% in the next 2 years.
Buy Or Sell Opportunity • Apr 29Now 88% undervalued after recent price dropOver the last 90 days, the stock has fallen 88% to €2.27. The fair value is estimated to be €18.21, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 2.8% over the last 3 years. Meanwhile, the company has become profitable. For the next 3 years, revenue is forecast to decline by 0.7% per annum. Earnings are forecast to grow by 30% per annum over the same time period.
Buy Or Sell Opportunity • Apr 14Now 87% undervalued after recent price dropOver the last 90 days, the stock has fallen 87% to €2.27. The fair value is estimated to be €17.22, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 2.8% over the last 3 years. Meanwhile, the company has become profitable. For the next 3 years, revenue is forecast to decline by 0.4% per annum. Earnings are forecast to grow by 30% per annum over the same time period.
New Risk • Apr 14New minor risk - Earnings qualityThe company has large one-off items impacting its financial results. One-off items were 23% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (2.5x net interest cover). Minor Risks Paying a dividend despite having no free cash flows. Large one-off items impacting financial results.
Buy Or Sell Opportunity • Mar 30Now 88% undervalued after recent price dropOver the last 90 days, the stock has fallen 87% to €2.27. The fair value is estimated to be €19.36, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 2.8% over the last 3 years. Meanwhile, the company has become profitable. For the next 3 years, revenue is forecast to decline by 0.4% per annum. Earnings are forecast to grow by 30% per annum over the same time period.
Declared Dividend • Mar 23Dividend increased to €0.60Dividend of €0.60 is 50% higher than last year. Ex-date: 20th July 2026 Payment date: 24th July 2026 Dividend yield will be 3.4%, which is lower than the industry average of 4.3%. Sustainability & Growth Dividend is covered by earnings (71% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 28% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 93% over the next 2 years, which should provide support to the dividend and adequate earnings cover.
New Risk • Mar 21New major risk - Financial positionThe company's interest payments are not well covered by earnings. Net interest cover: 2.0x This is considered a major risk. If the company is unable to fund interest repayments on its debt through profits, it may be forced into reducing its debt burden through selling assets, undertaking a potentially costly capital raising or even into bankruptcy in the worst case scenario. This is currently the only risk that has been identified for the company.
Reported Earnings • Mar 21Full year 2025 earnings released: EPS: €0.85 (vs €0.43 in FY 2024)Full year 2025 results: EPS: €0.85 (up from €0.43 in FY 2024). Revenue: €9.70b (up 8.0% from FY 2024). Net income: €295.0m (up 94% from FY 2024). Profit margin: 3.0% (up from 1.7% in FY 2024). The increase in margin was driven by higher revenue. Revenue is expected to decline by 1.6% p.a. on average during the next 2 years, while revenues in the Electric Utilities industry in Europe are expected to grow by 3.6%. Over the last 3 years on average, earnings per share has increased by 12% per year but the company’s share price has increased by 31% per year, which means it is tracking significantly ahead of earnings growth.
공시 • Mar 20Public Power Corporation S.A. announces Annual dividend, payable on July 24, 2026Public Power Corporation S.A. announced Annual dividend of EUR 0.6000 per share payable on July 24, 2026, ex-date on July 20, 2026 and record date on July 21, 2026.
Buy Or Sell Opportunity • Mar 09Now 83% undervalued after recent price dropOver the last 90 days, the stock has fallen 87% to €2.27. The fair value is estimated to be €13.21, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 5.3% over the last 3 years. Meanwhile, the company has become profitable. For the next 3 years, revenue is forecast to decline by 0.2% per annum. Earnings are forecast to grow by 21% per annum over the same time period.
Buy Or Sell Opportunity • Feb 20Now 81% undervalued after recent price dropOver the last 90 days, the stock has fallen 87% to €2.27. The fair value is estimated to be €12.01, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 5.3% over the last 3 years. Meanwhile, the company has become profitable. For the next 3 years, revenue is forecast to decline by 0.2% per annum. Earnings are forecast to grow by 20% per annum over the same time period.
Buy Or Sell Opportunity • Feb 04Now 79% undervalued after recent price dropOver the last 90 days, the stock has fallen 86% to €2.27. The fair value is estimated to be €10.82, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 5.3% over the last 3 years. Meanwhile, the company has become profitable. For the next 3 years, revenue is forecast to decline by 0.2% per annum. Earnings are forecast to grow by 20% per annum over the same time period.
공시 • Jan 26+ 4 more updatesPublic Power Corporation S.A., Annual General Meeting, Jun 22, 2026Public Power Corporation S.A., Annual General Meeting, Jun 22, 2026.
Buy Or Sell Opportunity • Jan 18Now 22% overvalued after recent price riseOver the last 90 days, the stock has risen 29% to €18.44. The fair value is estimated to be €15.16, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 5.3% over the last 3 years. Meanwhile, the company has become profitable. Revenue is forecast to decline by 4.7% in 2 years. Earnings are forecast to grow by 90% in the next 2 years.
Reported Earnings • Nov 21Third quarter 2025 earnings released: EPS: €0.60 (vs €0.008 loss in 3Q 2024)Third quarter 2025 results: EPS: €0.60 (up from €0.008 loss in 3Q 2024). Revenue: €2.62b (up 2.6% from 3Q 2024). Net income: €212.0m (up €214.9m from 3Q 2024). Profit margin: 8.1% (up from net loss in 3Q 2024). Revenue is expected to decline by 2.5% p.a. on average during the next 3 years, while revenues in the Electric Utilities industry in Europe are expected to grow by 3.0%.
Buy Or Sell Opportunity • Oct 30Now 22% overvalued after recent price riseOver the last 90 days, the stock has risen 6.3% to €15.20. The fair value is estimated to be €12.41, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 3.9% over the last 3 years. Meanwhile, the company has become profitable. Revenue is forecast to decline by 5.5% in 2 years. Earnings are forecast to grow by 291% in the next 2 years.
Declared Dividend • Jun 24Dividend increased to €0.40Dividend of €0.40 is 60% higher than last year. Ex-date: 21st July 2025 Payment date: 25th July 2025 Dividend yield will be 18%, which is higher than the industry average of 4.3%. Sustainability & Growth Dividend is not adequately covered by earnings (93% earnings payout ratio) and the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 23% per year over the past 10 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to grow by 3.3% to bring the payout ratio under control. EPS is expected to grow by 135% over the next 3 years, which is sufficient to bring the dividend into a sustainable range.
Declared Dividend • May 30Dividend increased to €0.40Dividend of €0.40 is 60% higher than last year. Ex-date: 21st July 2025 Payment date: 25th July 2025 Dividend yield will be 18%, which is higher than the industry average of 4.3%. Sustainability & Growth Dividend is not adequately covered by earnings (93% earnings payout ratio) and the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 23% per year over the past 10 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to grow by 3.3% to bring the payout ratio under control. EPS is expected to grow by 142% over the next 3 years, which is sufficient to bring the dividend into a sustainable range.
공시 • May 21Public Power Corporation S.A., Annual General Meeting, Jun 25, 2025Public Power Corporation S.A., Annual General Meeting, Jun 25, 2025, at 12:00 GTB Standard Time. Location: be conducted remotely in real time via, the venue, Greece
Board Change • Apr 02Less than half of directors are independentFollowing the recent departure of a director, there are only 4 independent directors on the board. The company's board is composed of: 4 independent directors. 5 non-independent directors. Independent Non-Executive Vice Chairman Pyrros Papadimitriou was the last independent director to join the board, commencing their role in 2019. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model.
Declared Dividend • Apr 01Dividend increased to €0.40Dividend of €0.40 is 60% higher than last year. Ex-date: 21st July 2025 Payment date: 25th July 2025 Dividend yield will be 2.8%, which is lower than the industry average of 4.3%. Sustainability & Growth Dividend is not adequately covered by earnings (93% earnings payout ratio) and the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 23% per year over the past 10 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to grow by 3.3% to bring the payout ratio under control. EPS is expected to grow by 135% over the next 3 years, which is sufficient to bring the dividend into a sustainable range.
공시 • Mar 27Public Power Corporation S.A. announces Annual dividend, payable on July 25, 2025Public Power Corporation S.A. announced Annual dividend of EUR 0.4000 per share payable on July 25, 2025, ex-date on July 21, 2025 and record date on July 22, 2025.
Reported Earnings • Mar 27Full year 2024 earnings released: EPS: €0.43 (vs €1.16 in FY 2023)Full year 2024 results: EPS: €0.43 (down from €1.16 in FY 2023). Revenue: €8.98b (up 17% from FY 2023). Net income: €151.8m (down 65% from FY 2023). Profit margin: 1.7% (down from 5.6% in FY 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to stay flat during the next 3 years compared to a 1.7% growth forecast for the Electric Utilities industry in Europe. Over the last 3 years on average, earnings per share has increased by 79% per year but the company’s share price has fallen by 33% per year, which means it is significantly lagging earnings.
공시 • Jan 22+ 3 more updatesPublic Power Corporation S.A. to Report Nine Months, 2025 Results on Nov 04, 2025Public Power Corporation S.A. announced that they will report nine months, 2025 results on Nov 04, 2025
공시 • Oct 29PPC Renewables S.A. acquired 629MW RES Romanian portfolio from Evryo Power S.A.PPC Renewables S.A. entered into a binding agreement to acquire 629MW RES Romanian portfolio from Evryo Power S.A.. for an enterprise value of €700 million on August 6, 2024. The funding of the transaction is structured to be compatible with PPC Group’s financial policy, to remain well within Group’s target leverage ceiling. Upon completion, PPC Group will add an estimated EBITDA of €100 million. The closing of the Acquisition is expected to occur by the fourth quarter of 2024, and will be subject to certain conditions precedent customary for this kind of transaction, including, among others, clearance from the relevant antitrust authorities. on an annual basis. The acquisition further strengthens PPC Group’s growth strategy in Romania and Southeast Europe, with the addition of a significant renewables operating portfolio, including 600MW onshore wind, 22MW hydro, 6MW BESS, 1MW solar PV installed capacity, and about 145MW pipeline assets. Upon completion of the agreement, PPC’s RES portfolio in operation in Romania will double and total RES of PPC Group in operation will reach 5.3GW. Citigroup Global Markets Europe AG acted as financial advisor for PPC Renewables S.A. Euroxx Securities S.A. acted as financial advisor for PPC Renewables S.A. Badea Clifford Chance acted as legal advisor to Public Power Corporation S.A. PPC Renewables S.A. completed the acquisition of 629MW RES Romanian portfolio from Evryo Power S.A. on October 28, 2024. The antitrust has approved the transaction.
공시 • Oct 25Public Power Corporation S.A. to Report Q3, 2024 Results on Nov 14, 2024Public Power Corporation S.A. announced that they will report Q3, 2024 results After-Market on Nov 14, 2024
공시 • Sep 27Public Power Corporation S.A. (ATSE:PPC) entered into an agreement collaboration framework to acquire 66.6 MW RES in operation and 1.7 GW under development in Greece from COPELOUZOS GROUP and Samaras Group for €110 million.Public Power Corporation S.A. (ATSE:PPC) entered into an agreement collaboration framework to acquire 66.6 MW RES in operation and 1.7 GW under development in Greece from COPELOUZOS GROUP and Samaras Group for €110 million on September 25, 2024. PPC Group is expected to offer for the consideration a combination of cash and own shares, with a sale price of €12.21 which was derived from the higher of the 6-month weighted average price and the spot price at the close of September 24, 2024. The signing of the final sale and purchase agreements as well as the final shareholders agreements is expected to be completed on December 31, 2024. PricewaterhouseCoopers Business Solutions S.A. acted as financial advisor for Public Power Corporation S.A. Vizas - Katrinakis and Associates acted as legal advisor for Public Power Corporation S.A. Lambadarios Law Firm acted as legal advisor for Public Power Corporation S.A.
공시 • Aug 01Public Power Corporation S.A. to Report First Half, 2024 Results on Aug 06, 2024Public Power Corporation S.A. announced that they will report first half, 2024 results on Aug 06, 2024
Upcoming Dividend • Jul 16Upcoming dividend of €0.25 per shareEligible shareholders must have bought the stock before 22 July 2024. Payment date: 26 July 2024. Payout ratio is a comfortable 22% and this is well supported by cash flows. Trailing yield: 2.2%. Lower than top quartile of British dividend payers (5.5%). Lower than average of industry peers (4.9%).
Reported Earnings • May 21First quarter 2024 earnings released: EPS: €0.11 (vs €0.14 in 1Q 2023)First quarter 2024 results: EPS: €0.11 (down from €0.14 in 1Q 2023). Revenue: €1.94b (down 2.8% from 1Q 2023). Net income: €40.2m (down 27% from 1Q 2023). Profit margin: 2.1% (down from 2.8% in 1Q 2023). Revenue is forecast to grow 1.4% p.a. on average during the next 3 years, compared to a 1.1% growth forecast for the Electric Utilities industry in Europe. Over the last 3 years on average, earnings per share has increased by 105% per year but the company’s share price has only increased by 8% per year, which means it is significantly lagging earnings growth.
Valuation Update With 7 Day Price Move • May 14Investor sentiment deteriorates as stock falls 80%After last week's 80% share price decline to €2.27, the stock trades at a forward P/E ratio of 13x. Average forward P/E is 13x in the Electric Utilities industry in Europe. Total loss to shareholders of 75% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €1.51 per share.
공시 • May 03Public Power Corporation S.A. to Report Q1, 2024 Results on May 20, 2024Public Power Corporation S.A. announced that they will report Q1, 2024 results at 1:00 PM, GTB Standard Time on May 20, 2024
공시 • Apr 11Public Power Corporation S.A. (ATSE:PPC) completed the acquisition of DSGi South-East Europe A.E.V.E. from Currys plc (LSE:CURY).Public Power Corporation S.A. (ATSE:PPC) signed an agreement to acquire DSGi South-East Europe A.E.V.E. from Currys plc (LSE:CURY) for an enterprise value of €200 million on November 2, 2023. The consideration corresponds the value on a debt free, cash free basis and excluding IFRS 16 lease liabilities. Under the terms of consideration, the enterprise value of €200 million (£175 million), adjusted to include lease liabilities of €97 million (£85 million) as at 29 April 2023, implies a multiple of 6x adjusted EBITDA1 of €49 million (£43 million) and 14x adjusted EBIT[1]of €21 million (£18 million). Net cash proceeds of the disposal are expected to be approximately £156 million (€179 million) at completion, after taking into account transaction and separation costs, intercompany balances and cash in the business. The Consideration is payable in full and in cash on the date of Completion. Following the agreed terms, the Currys board of directors ("Board") believes the proposed Disposal has strong strategic rationale and represents an attractive outcome for the Company's shareholders ("Shareholders"). Following Completion, the Continuing Group intends to pursue its strategy of delivering value for all stakeholders centred around its four strategic priorities: (i) Capable & Committed Colleagues; (ii) Easy to Shop; (iii) Customers for Life; and (iv) Grow Profits. Management's objective remains to achieve at least a 3% adjusted EBIT margin with a solid balance sheet that enables healthy returns to shareholders. Following Completion, the Continuing Group will consist of the Company's UK and Ireland and Nordics business segments. Kotsovoloas has It has 95 stores, in Greece and Cyprus, of which 27 are megastores. PPC intends to finance the acquisition through own funds. The closing of the transaction is subject to certain conditions precedent, customary for these kinds of transactions, including the approval of shareholders at the General Meeting of Currys plc and obtaining a merger clearance approval from the European Commission or the Hellenic Competition Commission, obtaining a Foreign Subsidies Regulation clearance following a filing from the Purchaser before the European Commission or an ex officio investigation by the European Commission, obtaining third party consents to the Disposal from counterparties to certain contracts to which Kotsovolos is a party. The Disposal was unanimously agreed by the Board to be in the best interests of Shareholders. The transaction is expected to take place in the first quarter of 2024. The Board expects to update Shareholders on this strategic progress when it announces the Company's interim results in December 2023. In the short term, the Board intends to use the proceeds to reduce net debt and then at the appropriate time, following peak trading, enter discussions with pension trustees regarding the potential to reduce the pension fund's accounting net deficit and required future contributions. Reducing indebtedness may also provide, at the appropriate time, the Group with greater flexibility to invest to grow the business, after which Currys will also explore the potential to return any surplus capital to Shareholders. This will initially involve using proceeds to reduce net debt, and then at the appropriate time entering into discussions with the pension trustees regarding the funding for the pension scheme. As on March 5, 2024, Hellenic Competition Commission approved the deal. As on March 8, 2024, the transaction is expected to complete in first half of April. PricewaterhouseCoopers Business Solutions S.A. (PwC) is acting as financial advisor and Vizas - Katrinakis and Associates Law Firm as legal advisor to PPC in connection with the acquisition. Andrew Seaton and Robert Farrington of Citigroup Global Markets Limited ("Citi") is acting as sponsor and sole financial advisor to Currys on the Disposal. Natasha Good and Tom Godwin of Freshfields advised Currys. Public Power Corporation S.A. (ATSE:PPC) completed the acquisition of DSGi South-East Europe A.E.V.E. from Currys plc (LSE:CURY) for an enterprise value of €200 million on April 10, 2024. The cash proceeds received by Currys were €179 million (£156 million) after taking into account transaction and separation costs, intercompany balances and cash in the business. On completion, it is the Board's intention to use the net cash proceeds to reduce net debt and the Group expects to finish the year in a net cash position.
Reported Earnings • Apr 10Full year 2023 earnings released: EPS: €1.16 (vs €0.05 loss in FY 2022)Full year 2023 results: EPS: €1.16 (up from €0.05 loss in FY 2022). Revenue: €7.69b (down 32% from FY 2022). Net income: €428.3m (up €447.3m from FY 2022). Profit margin: 5.6% (up from net loss in FY 2022). Revenue is forecast to decline by 4.8% p.a. on average during the next 2 years, while revenues in the Electric Utilities industry in Europe are expected to remain flat. Over the last 3 years on average, earnings per share has increased by 98% per year but the company’s share price has only increased by 5% per year, which means it is significantly lagging earnings growth.
공시 • Apr 01Public Power Corporation S.A. to Report Fiscal Year 2023 Results on Apr 09, 2024Public Power Corporation S.A. announced that they will report fiscal year 2023 results at 1:00 PM, GTB Standard Time on Apr 09, 2024
공시 • Nov 05Public Power Corporation S.A. (ATSE:PPC) signed an agreement to acquire DSGi South-East Europe A.E.V.E. for an enterprise value of €200 million.Public Power Corporation S.A. (ATSE:PPC) signed an agreement to acquire DSGi South-East Europe A.E.V.E. for an enterprise value of €200 million on November 3, 2023. The consideration corresponds the value on a debt free, cash free basis and excluding IFRS 16 lease liabilities. Under the terms of consideration, the enterprise value of €200 million (£175 million), adjusted to include lease liabilities of €97 million (£85 million) as at 29 April 2023, implies a multiple of 6x adjusted EBITDA1 of €49 million (£43 million) and 14x adjusted EBIT[1]of €21 million (£18 million). Net cash proceeds of the disposal are expected to be approximately £156 million (€179 million) at completion, after taking into account transaction and separation costs, intercompany balances and cash in the business. The Consideration is payable in full and in cash on the date of Completion. Following the agreed terms, the Currys board of directors ("Board") believes the proposed Disposal has strong strategic rationale and represents an attractive outcome for the Company's shareholders ("Shareholders"). Following Completion, the Continuing Group intends to pursue its strategy of delivering value for all stakeholders centred around its four strategic priorities: (i) Capable & Committed Colleagues; (ii) Easy to Shop; (iii) Customers for Life; and (iv) Grow Profits. Management's objective remains to achieve at least a 3% adjusted EBIT margin with a solid balance sheet that enables healthy returns to shareholders. Following Completion, the Continuing Group will consist of the Company's UK and Ireland and Nordics business segments. Kotsovoloas has It has 95 stores, in Greece and Cyprus, of which 27 are megastores. PPC intends to finance the acquisition through own funds. The closing of the transaction is subject to certain conditions precedent, customary for these kinds of transactions, including the approval of shareholders at the General Meeting of Currys plc and obtaining a merger clearance approval from the European Commission or the Hellenic Competition Commission, obtaining a Foreign Subsidies Regulation clearance following a filing from the Purchaser before the European Commission or an ex officio investigation by the European Commission, obtaining third party consents to the Disposal from counterparties to certain contracts to which Kotsovolos is a party. The Disposal was unanimously agreed by the Board to be in the best interests of Shareholders. The transaction is expected to take place in the first quarter of 2024. The Board expects to update Shareholders on this strategic progress when it announces the Company's interim results in December 2023. In the short term, the Board intends to use the proceeds to reduce net debt and then at the appropriate time, following peak trading, enter discussions with pension trustees regarding the potential to reduce the pension fund's accounting net deficit and required future contributions. Reducing indebtedness may also provide, at the appropriate time, the Group with greater flexibility to invest to grow the business, after which Currys will also explore the potential to return any surplus capital to Shareholders. This will initially involve using proceeds to reduce net debt, and then at the appropriate time entering into discussions with the pension trustees regarding the funding for the pension scheme.PricewaterhouseCoopers Business Solutions S.A. (PwC) is acting as financial advisor and Vizas - Katrinakis and Associates Law Firm as legal advisor to PPC in connection with the acquisition. Andrew Seaton and Robert Farrington of Citigroup Global Markets Limited ("Citi") is acting as sponsor and sole financial advisor to Currys on the Disposal.
공시 • Oct 27Public Power Corporation S.A. (ATSE:PPC) completed the acquisition of Enel assets in Romania from Enel SpA (BIT:ENEL) for approximately €1.2 billion.Public Power Corporation S.A. (ATSE:PPC) signed an exclusivity agreement to acquire Enel assets in Romania from Enel SpA (BIT:ENEL) on December 14, 2022. Public Power Corporation S.A. (ATSE:PPC) signed an agreement to acquire Enel assets in Romania from Enel SpA (BIT:ENEL) for approximately €1.3 billion on March 9, 2023. In addition, the total consideration is subject to adjustments customary for these kinds of transactions as well as to an earn-out mechanism for a potential additional payment based on the future value of the retail business. PPC intends to finance the Acquisition with a combination of debt and cash on balance sheet, with €800 million of committed debt financing in the form of a €485 million 5-year term loan facility through Greek banks and a €315 million bridge facility through international banks. The transaction is subject to due diligence and approval by antitrust authorities. As of February 4, 2023, the exclusivity period for negotiations has been extended until February 28, 2023. As of June 26, 2023 European Commission approved the transaction. The transaction is expected to close in third quarter of 2023. Citigroup Global Markets Europe AG, Goldman Sachs Bank Europe SE, HSBC Continental Europe acted as financial advisors, S.A, Lisa O’Neill, Apostolos Gkoutzinis, Andrew Reilly, Trevor Truman, and Alan Rafferty of Milbank LLP acted as a legal advisor, Cornelia Bumbacea, Andreea Bistriceanu, Andreea Oprescu, Laura Paraschiv, Andreea Puiu, Daniel Anghel, Ruxandra Târlescu, Adina Vizoli, oana Bara, Ludmila Petrescu, Claudiu Simionescu, and Anca Lungeanu of PwC Romania, PwC Greece and Anda Rojanschi, Cristina Paduraru and Ovidiu Bold of D&B David si Baias experts provided due diligence, tax structuring advice and support on the complex financial and tax aspects of the transaction documents, as well as legal advice to Public Power Corporation S.A. (ATSE:PPC). Clifford Chance LLP acted as legal advisor to Enel SpA in the transcation.Public Power Corporation S.A. (ATSE:PPC) completed the acquisition of Enel assets in Romania from Enel SpA (BIT:ENEL) for approximately €1.2 billion on October 25, 2023. Following the fulfillment of all the conditions precedent customary for these kinds of transactions set forth in the related sale agreement closed the transaction. AXIA Ventures Group and Euroxx Securities SA acted as financial advisors to PPC.
Valuation Update With 7 Day Price Move • Oct 19Investor sentiment deteriorates as stock falls 77%After last week's 77% share price decline to €2.27, the stock trades at a forward P/E ratio of 16x. Average forward P/E is 12x in the Electric Utilities industry in Europe.
Valuation Update With 7 Day Price Move • Sep 26Investor sentiment deteriorates as stock falls 79%After last week's 79% share price decline to €2.27, the stock trades at a forward P/E ratio of 17x. Average forward P/E is 13x in the Electric Utilities industry in Europe.
Reported Earnings • Aug 04Second quarter 2023 earnings released: EPS: €0.32 (vs €0.45 in 2Q 2022)Second quarter 2023 results: EPS: €0.32 (down from €0.45 in 2Q 2022). Revenue: €1.59b (down 26% from 2Q 2022). Net income: €120.6m (down 29% from 2Q 2022). Profit margin: 7.6% (down from 8.0% in 2Q 2022). The decrease in margin was driven by lower revenue. Revenue is expected to fall by 20% p.a. on average during the next 3 years compared to a 4.0% decline forecast for the Electric Utilities industry in Europe. Over the last 3 years on average, earnings per share has increased by 139% per year but the company’s share price has only increased by 45% per year, which means it is significantly lagging earnings growth.
Valuation Update With 7 Day Price Move • Jun 02Investor sentiment improves as stock rises 22%After last week's 22% share price gain to €9.91, the stock trades at a forward P/E ratio of 20x. Average forward P/E is 14x in the Electric Utilities industry in Europe.
Board Change • Aug 09High number of new directorsIndependent Non Executive Director Michalis Panagiotakis was the last director to join the board, commencing their role in 2020.
Board Change • Jul 04High number of new directorsThere are 5 new directors who have joined the board in the last 3 years. Independent Non Executive Director Michalis Panagiotakis was the last director to join the board, commencing their role in 2020. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model.
Board Change • Jun 06High number of new directorsThere are 5 new directors who have joined the board in the last 3 years. Independent Non Executive Director Michalis Panagiotakis was the last director to join the board, commencing their role in 2020. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model.
Board Change • Apr 28High number of new directorsThere are 6 new directors who have joined the board in the last 3 years. Independent Non Executive Director Michalis Panagiotakis was the last director to join the board, commencing their role in 2020. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model.
Reported Earnings • Apr 08Full year 2021 earnings released: €0.048 loss per share (vs €0.084 profit in FY 2020)Full year 2021 results: €0.048 loss per share (down from €0.084 profit in FY 2020). Revenue: €5.71b (up 23% from FY 2020). Net loss: €18.4m (down 195% from profit in FY 2020). Over the next year, revenue is forecast to decline by 11% while the industry in the United Kingdom is not expected to grow.
Board Change • Feb 17High number of new directorsThere are 6 new directors who have joined the board in the last 3 years. Independent Non Executive Director Michalis Panagiotakis was the last director to join the board, commencing their role in 2020. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model.
Board Change • Jan 14High number of new directorsThere are 6 new directors who have joined the board in the last 3 years. Independent Non Executive Director Michalis Panagiotakis was the last director to join the board, commencing their role in 2020. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model.
Board Change • Dec 10High number of new directorsThere are 8 new directors who have joined the board in the last 3 years. Independent Non Executive Director Michalis Panagiotakis was the last director to join the board, commencing their role in 2020. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model.
Reported Earnings • Dec 01Third quarter 2021 earnings: EPS in line with analyst expectations despite revenue beatThird quarter 2021 results: €0.30 loss per share (down from €0.071 loss in 3Q 2020). Revenue: €1.50b (up 18% from 3Q 2020). Net loss: €69.1m (loss widened 319% from 3Q 2020). Revenue exceeded analyst estimates by 2.0%. Over the next year, revenue is forecast to grow 2.9%, compared to a 7.9% growth forecast for the industry in the United Kingdom.
Valuation Update With 7 Day Price Move • Nov 11Investor sentiment deteriorated over the past weekAfter last week's 76% share price decline to €2.27, the stock trades at a forward P/E ratio of 214x. Average forward P/E is 14x in the Electric Utilities industry in Europe. Total loss to shareholders of 59% over the past year.
Valuation Update With 7 Day Price Move • Oct 27Investor sentiment deteriorated over the past weekAfter last week's 72% share price decline to €2.27, the stock trades at a forward P/E ratio of 13x. Average forward P/E is 13x in the Electric Utilities industry in Europe.
Board Change • Oct 27Less than half of directors are independentThere are 9 new directors who have joined the board in the last 3 years. Of these new board members, 5 were independent directors. The company's board is composed of: 9 new directors. No experienced directors. 2 highly experienced directors. 5 independent directors (6 non-independent directors). Employee Representative Non-Executive Director Pantelis Karaleftheris is the most experienced director on the board, commencing their role in 2013. Independent Non Executive Director Michalis Panagiotakis was the last independent director to join the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Lack of experienced directors.
Board Change • Oct 27Less than half of directors are independentThere are 9 new directors who have joined the board in the last 3 years. Of these new board members, 5 were independent directors. The company's board is composed of: 9 new directors. No experienced directors. 2 highly experienced directors. 5 independent directors (6 non-independent directors). Employee Representative Non-Executive Director Pantelis Karaleftheris is the most experienced director on the board, commencing their role in 2013. Independent Non Executive Director Michalis Panagiotakis was the last independent director to join the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Lack of experienced directors.
Valuation Update With 7 Day Price Move • Sep 30Investor sentiment deteriorated over the past weekAfter last week's 15% share price decline to €8.05, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 13x in the Electric Utilities industry in Europe.
Reported Earnings • Sep 24Second quarter 2021 earnings released: EPS €0.30 (vs €0.17 in 2Q 2020)The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: €1.08b (up 4.7% from 2Q 2020). Net income: €70.6m (up 75% from 2Q 2020). Profit margin: 6.5% (up from 3.9% in 2Q 2020). Over the last 3 years on average, earnings per share has increased by 23% per year but the company’s share price has only increased by 11% per year, which means it is significantly lagging earnings growth.
Board Change • Sep 15Less than half of directors are independentThere are 9 new directors who have joined the board in the last 3 years. Of these new board members, 5 were independent directors. The company's board is composed of: 9 new directors. No experienced directors. 2 highly experienced directors. 5 independent directors (6 non-independent directors). Employee Representative Non-Executive Director Pantelis Karaleftheris is the most experienced director on the board, commencing their role in 2013. Independent Non Executive Director Michalis Panagiotakis was the last independent director to join the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Lack of experienced directors.
Reported Earnings • Apr 24Full year 2020 earnings released: EPS €0.15 (vs €7.27 loss in FY 2019)The company reported a decent full year result with improved earnings and profit margins, although revenues were weaker. Full year 2020 results: Revenue: €4.65b (down 5.7% from FY 2019). Net income: €35.2m (up €1.72b from FY 2019). Profit margin: 0.8% (up from net loss in FY 2019). Over the last 3 years on average, earnings per share has fallen by 34% per year but the company’s share price has increased by 50% per year, which means it is well ahead of earnings.
Analyst Estimate Surprise Post Earnings • Dec 04Revenue beats expectationsRevenue exceeded analyst estimates by 0.5%. Over the next year, revenue is expected to shrink by 6.7% compared to a 13% growth forecast for the Electric Utilities industry in the United Kingdom.
Reported Earnings • Dec 04Third quarter 2020 earnings released: €0.071 loss per shareThe company reported a decent third quarter result with reduced losses and improved control over expenses, although revenues were weaker. Third quarter 2020 results: Revenue: €1.27b (down 2.5% from 3Q 2019). Net loss: €16.5m (loss narrowed 79% from 3Q 2019). Over the last 3 years on average, earnings per share has fallen by 57% per year but the company’s share price has increased by 54% per year, which means it is well ahead of earnings.