Investor Relations - 02.02.2017

Comments on a press article


Regarding PPC payroll as mentioned in press articles, PPC clarifies the following:

  1. P&L payroll, including employer’s contributions, was reduced from € 1,492.1 mln in 2009, to € 880.3 mln in 2015. As a percentage of total revenues the corresponding figures are 24.7% and 15.3%, respectively.
  2. The amount of total payroll cost, including capitalized payroll cost and employer’s contributions, declined from € 1,703 mln in 2009 to € 970 mln in 2015,  that is a reduction by 43%.
  3. From 2010 onwards, PPC employees do not receive 13th and 14th salary (as Christmas, Easter and Holiday allowances) but the allowances stated in Law 3845/2010, under the preconditions stated in this Law.
  4. The granting of shift surcharges and other to elected labor union representatives is implemented, in accordance to judicial decisions, following recourses of the interested parties.

Athens, February 2, 2017

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