PPC Group: Strategic investments of €10.1 bn over the 2026–2028 period, targeting EBITDA of €2.9 bn

November 19, 2025

• The company’s management is presenting the Group’s vision, strategy, and targets to investors at the 2025 Capital Markets Day in London.

At the 2025 Capital Markets Day in London, PPC Group’s management presents to investors the Group’s vision, strategy and objectives, outlining an ambitious new plan designed to position the organisation at the forefront of the energy transition in Southeast Europe, at a time when energy and technology are becoming increasingly interconnected.

The plan for the next three years builds on the Group’s successful integrated business model and resolves around €10.1 bn of investments in renewable energy, flexible generation, network expansion and modernisation, and customer-centric services across Southeast Europe. All business pillars are enhanced by the transformative power of Artificial Intelligence. This growth trajectory is expected to lead to EBITDA exceeding €2.9 billion by 2028.

PPC Group’s Chairman & CEO, Mr George Stassis, noted ahead of the Capital Markets Day: “Back in 2019, we made a clear decision: to become a modern, green, sustainable and digital company. After nearly six years of profound transformation—and in the midst of sweeping geopolitical and technological shifts—the results speak for themselves. We have met our financial and strategic goals, our transition to a lignite-free energy mix is almost complete, and shareholder returns have grown, outperforming the European industry average. But we are not complacent. The future belongs to those who envision it, plan and dare. That is why, over the next three years, we will continue to invest decisively. With more than €10 billion of investments between 2026 and 2028 in energy and technology infrastructure, and with the customer firmly at the centre of our strategy, we are further strengthening our position as a Powertech group. Our vision is to consistently deliver better services and competitive products to all our customers, in every location.

The Strategic Plan for the coming three years places strong emphasis on growth, with roughly 93% of capital expenditure directed to new projects. The Group is expanding rapidly while continuing to create value for shareholders, society and the environment.”

Strategic Growth Targets

Having already achieved the financial and strategic targets set to date, and building on the comprehensive transformation of the past six years, the PPC Group is now aiming even higher for the next three years. With its fully integrated business model at the core, and driven by further expansion in renewables, networks, and flexible generation, alongside full lignite phase-out, the Group targets the following between 2026 and 2028:

• Development of 6.3 GW of new RES projects in Greece and Southeastern Europe, with the goal of reaching 12.7 GW of installed RES capacity by 2028, representing 77% of the Group’s total installed capacity.
• Development of 1.5 GW of flexible energy assets, primarily batteries, gas-fired units and hydropower projects, which balance RES variability, generate greater value, and make a significant contribution to system stability.
• Full lignite phase-out in 2026, and a substantial reduction in oil-fired generation due to island interconnections, aiming for an 85% reduction in greenhouse gas emissions between 2019 and 2028.
• Increase of total installed capacity to 16.6 GW by 2028, up from 12.4 GW in 2025, despite the full lignite phase-out.
• Steady network growth in Greece and Romania, where the Regulatory Asset Base is expected to increase by approximately 5% annually (CAGR) over the three-year period, reaching €6.5 billion in 2028.
• Strengthening of the integrated model in Romania, supported by robust RES development to supply the energy needs of Romania’s large customer base.
• Expansion of the Group’s presence in attractive interconnected markets across Southeastern Europe.
• Introduction of new value-added customer solutions, such as synergies with Kotsovolos, support services for heat pumps and home photovoltaics, Fiber-to-the-Home offerings and personalized energy management solutions.
• Redesign of the Group by leveraging AI capabilities across the entire organization, including human resources, operations, new business development, and customer service.
• Growth of the Group’s position in Telecommunications through the development and operation of the nationwide Fiber-to-the-Home network.

Healthy Financial Growth

PPC Group’s financial targets for the 2026–2028 period demonstrate healthy economic growth and the value it creates for shareholders, employees, and society as a whole:

• Growth-oriented investments totaling €10.1 bn, with 93% of capital expenditure allocated to development, primarily in RES, flexible generation, storage and networks.
• The Group’s EBITDA is expected to reach €2.9 bn in 2028, up from €1.3 bn in 2023, representing a 18% annual increase (CAGR), driven by investments, and the full lignite phase-out by the end of 2026.
• Dividend growth of 37% per year (CAGR), the highest in the European energy sector, aiming to increase from €0.25 per share for fiscal year 2023 to €1.2 per share in 2028.
• Despite the increase in investments, the Group’s Net Debt/EBITDA ratio will remain below the 3,5x self-posed threshold, as the Group will finance approximately 70% of investments through higher cash flows (FFO)