PPC posted a lower than expected set of results on lower turnover

28.09.2016 12:46

PPC posted a lower than expected set of results on lower turnover (lower demand by 1.8%, reduction of market share -93.4% vs 97.1%-and new lower tariffs to consistent clients).

 

The following table summarise results vs consensus estimates:

 

PPC 2015 2016 Y-o-Y 2016 Act. vs 2015 2016 Y-o-Y 2016 Act. vs
EUR m. H1 H1 (%) Η1 Est. Est. 2Q 2Q (%) 2Q Est. Est.
Sales 2,913.3 2,664.5 -8.5%  2,613.2 2.0%  1,364.7 1,251.9 -8.3%  1,200.6 4.3% 
EBITDA 640.8 535.5 -16.4%  572.0 -6.4%  327.0 190.3 -41.8%  226.8 -16.1% 
EBITDA Mrg 22.0%  20.1%  -190 bps  21.9%  -8.2% 24.0%  15.2%  -876 bps  18.9%  -19.5%
Net Income 105.6 57.10 -45.9%  81.57 -30.0%  49.9 -28.5 -157.1%  -4.0 606.6% 
Net Mrg 3.6%  2.1%  -148 bps  3.1%  -31.3% 3.7%  -2.3%  -593 bps  -0.3%  -577.6%

 

 

Conference call details (Thursday 29/9, 15:00 GR time)

 

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  • USA:        +1 516 447 5632

Manos Chatzidakis

Head of research

Beta Securities S.A.

29 Alexandras Ave.





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