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PPC returns to profitability in 2020, posting net income of 35.2 mln
The company’s full-year revenue came to 4.65 billion compared to 4.93 billion in 2019, a drop of 5.7 percent. EBITDA came to 820.5 million euros, increasing from 798.8 million in 2019. Excluding one-offs, recurring EBITDA more than doubled to 885.8 million euros from 333.6 million.
PPC said the increase in recurring EBITDA was driven by an improvement in gross margins as a result of measures taken in September 2019 and the reduction in natural gas and wholesale prices, a trend that was further strengthened by the pandemic impact. ...
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