Press Release - 10.02.2009

2009 Budget Approval by the BoD of PPC S.A.


2009 Budget Approval by the BoD

PPC S.A. announces that the Board of Directors approved today the Parent Company's Budget for 2009. The budget assumptions for Brent oil and the $/€ exchange rate are $55/bbl and 1.25, respectively, whereas the key financial figures are forecasted to reach the following levels:

Revenues from energy sales:  € 5,740 mln
Expenses for liquid fuel, natural gas and energy purchases/imports:   € 2,097 mln
EBITDA:  € 1,295 mln
EBITDA margin:  21%
EBT:  € 531 mln
Capital Expenditure:  € 1,253 mln
Target controllable cost saving:  € 90 mln
Target EBT (with cost saving):  € 621 mln
ROCE (pre-tax):  6.4%

With respect to certain statistical data, it is forecasted that lignite extraction will reach 63.5 million tones and electricity production from lignite plants will reach 31 thousand GWh.

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.

Athens 10-2-2009
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