Public Power Corporation SA, Greece’s biggest electricity producer, posted a first-half net income of 18.3 million euros.
This compared with a 128.8-million-euro profit in the same period a year earlier, the company said in an Athens bourse filing on Thursday. This constitutes an 86 percent decline year-on-year. The energy giant has 466 million euros of long-term debt to repay in the second half of the year.
It had available credit lines of 433 million euros as of June 30 and cash deposits stood at 226.8 million euros, according to a presentation posted on the Athens-based company’s website. [Bloomberg]