PPC Group entered 2026 with significantly stronger financial performance, driven by the continued expansion of its renewable energy portfolio, investments in flexible power generation and ongoing upgrades of electricity distribution infrastructure across the region.
The group reported an adjusted EBITDA of approximately €700 million for the first quarter of 2026, compared with around €500 million during the same period last year. Adjusted net profit attributable to minority interests also recorded a strong increase, rising to nearly €200 million, up from €100 million in the first quarter of 2025.
According to the company, the improved results were primarily supported by the contribution of projects developed over recent years, together with favorable weather conditions that boosted both hydropower and wind generation output during the quarter. The combination of higher renewable production and stronger operational performance significantly strengthened the company’s earnings profile.
Investment activity remained highly intensive throughout the quarter, with PPC allocating roughly €500 million during the first three months of the year. Around 82% of total capital spending was directed toward renewable energy developments, flexible generation assets and the modernization of electricity distribution networks, fully aligned with the group’s long-term strategic transformation plan.
By the end of March, PPC’s installed renewable energy portfolio had reached 7.2 GW, accounting for nearly 60% of the company’s total generation capacity. At the same time, the group continued expanding its future development pipeline, which currently includes approximately 6.7 GW of renewable projects that are either under construction, preparing for construction or participating in tender procedures.
Despite the elevated level of investment spending, PPC maintained its financial indicators within targeted limits. Net debt stood at approximately €6.9 billion at the end of the quarter, while the company’s leverage ratio remained at 3.0x, comfortably below its internal ceiling of 3.5x.
The company also reaffirmed its guidance for the full 2026 financial year, maintaining targets of €2.4 billion in adjusted EBITDA and approximately €700 million in adjusted net income after minority interests. PPC additionally confirmed plans to distribute a dividend of €0.8 per share.
Commenting on the quarterly results, CEO Georgios Stassis stated that the group had entered 2026 with strong operational momentum, emphasizing the stability of PPC’s integrated business model and the company’s continued transition toward cleaner and more flexible energy production.
He added that PPC intends to continue disciplined investments in renewable energy, network infrastructure and flexible generation technologies as the company advances its long-term strategic objectives and strengthens its role in the energy transition across Central and Southeastern Europe.
