ATHENS November, 10 2009
The positive evolution of the factors that contributed to the Company's profitability in the first two quarters of the year, followed the same pattern during 3Q 2009 resulting in EBT of € 869.0 m, compared to losses of €258.3 m in 9M 2008. Net income in 9M 2009 amounted to € 642.7 m, versus losses of €244.6 m in 9M 2008.
Commenting on the financial results of the period, Dr. Takis Athanasopoulos Public Power Corporation's Chairman and Chief Executive Officer, said:
" 2009 is turning out to be a year with good returns on assets, given prevailing favorable conditions compared to previous years, mainly attributed to the sharp drop in fuel and energy prices, the increased participation of lignite and hydro generation in the energy mix, as well as the drop in demand of low tariff customer segments.
Current performance must not only be maintained, but needs to be improved, in order to secure the financing of our ambitious investment programme, which is necessary for our Company to continue to provide electricity with reliability, maintain low tariffs for its customers and drastically improve its environmental footprint "
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