Announcement
PPC S.A. announces that the Board of Directors approved the budget of the Group for 2012. The budget is based on assumptions for Brent oil at $109/bbl and a €/$ exchange rate of 1.30, while the key financials are estimated to be as follows:
Revenues from energy sales : € 5.7 bln.
Total Revenues : € 6.2 bln.
EBITDA Margin : 17% - 18%
It is noted that Group results are impacted, among other, by fluctuations in €/$ exchange rate, oil, natural gas and electricity prices and the price of CO2 emission rights, as well as changes in the legal, regulatory and fiscal framework and bad debt evolution, which could cause deviations from the budgeted figures.
Athens, March 13, 2012
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