Following relevant articles in the electronic press (Thursday 4-2-2010), PPC S.A. announces that according to the Budget of the Parent Company for 2010, which was approved today by the Board of Directors, the pre-tax profitability is expected to reach €626 million compared to €531 million in the Budget for 2009. This profitability is based, among other, on assumptions for Brent oil at $80/bbl and a €/$ exchange rate of 1.45 compared to $55/bbl and €/$1.25 in the 2009 Budget.
Domestic electricity demand is expected to increase by 0.7%, whereas PPC sales in the domestic market are estimated to decrease by 1.8%. PPC's share in the retail market in 2010 is estimated at 97%.
It is noted that the Company is subject to various risks, which, among other, relate to €/$ exchange rate, oil, natural gas and electricity prices as well as the price of CO2 emission rights that could cause actual results to differ materially from budgeted ones.