PPC expects rebound in 2020 core profit, report says

Greece's Public Power Corporation (PPC) expects a rebound in core profit to 850 million-900 million euros next year, a Greek newspaper reported on Monday, citing a 2020-2024 business plan approved by the utility's board last week. 

Its earnings before interest, tax, depreciation and amortisation (EBITDA) fell to 216 million euros last year from 828 million a year earlier. 

Its new five-year plan calls for attaining an EBITDA of 1 billion euros in 2024, the To Vima newspaper reported. 

PPC will also shut down 14 coal-fired units by 2023, sooner than an earlier plan which had envisaged most of them closing them down by 2028, the paper reported.

PPC, which is 51% state-owned, declined to comment. It is due to brief reporters on its 2020 outlook and business plan later on Monday. 

Public Power holds a 60% share in Greece's power generation sector but...