PPC announces higher profits, Romanian acquisition

Power company PPC announced Tuesday net profits of €228 million for the first half of 2024, up from €84 million in the same period in 2023. Adjusted earnings before interest, tax and asset depreciation (EBITDA) rose 57%, to €927 million. Managers said the target of €1.8 billion in EBITDA for the whole of 2024 is reachable. 

The company also announced the acquisition of Romanian firm Evryo Group for €700 million that will double PPC's renewables capacity in the country to 5.3 gigawatts.