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The two Gas Fired power plants of Protergia Group, one in Saint Nico-
las Viotia of the subsidiary PROTERGIA AGIOS NIKOLAOS POWER
SA and in Agioi Theodoroi Corinthian of the subsidiary «KORINTHOS
POWER», had a satisfactory operation – given the circumstances of
the market- during 2014, despite the negative impact of the above
mentioned changes in the regulatory framework. The total genera-
tion of the two power plants reached 778 GWh compared to 2.990
GWh in 2013. In addition, the Renewable Energy Sources (RES) of the
Group had also a satisfactory operation with their electricity genera-
tion reaching 91,56 GWh for 2014 as compared to 107,4 GWh in 2013.
Said decrease of the generation output is mainly due to the remark-
ably reduced wind intensity in 2014.
Amounts in mil.
€
Variance Analysis
Turnover 2013
1,403.0
Effect from:
Organic $/
€
eff.
-1.8
Volumes
-0.9
Premia & Prices
17.1
LME
-7.8
Other
0.0
Energy
-201.6
Zn-Pb discontinued operation
-1.4
EPC
-2.3
LNG Trading
28.4
Turnover 2014
1,232.6
Amounts in mil.
€
Variance Analysis
EBITDA 2013*
225.3
Effect from:
Organic $/
€
eff.
-1.7
Fuel Oil + NG + Steam
35.6
LNG
0.5
Volumes
-1.4
Premia & Prices
18.1
Opex & R/M
14.8
Metallurgy (One offs)
-16.4
LME
-7.8
EPC
2.2
EPC one off
0.0
Electricity
3.6
Other
-4.5
Energy Sector
-14.8
Zn-Pb discontinued operation
0.3
EBITDA 2014
253.9
Regarding the development plan for new
RES projects, it is noted that Protergia
Group had, in 31/12/2014, a total of 62,6MW
of Wind Farms under construction. Further
to that, the pipeline of RES projects under
several stages of licensing process amount
approximately 1.000 MW.
In respect of cross border electricity trad-
ing Protergia Group, though its respec-
tive subsidiaries, traded a total quantity of
189,4GWh, 311% up as compared to 2013.
In particular, the effect to the Group’s turn-
over as well as operational and net profit-
ability during 2014 compared to the previ-
ous fiscal year are the following:
Amounts in mil.
€
Variance Analysis
Net Profit after Minorities 2013
15.9
Effect from:
Operating Results (EBIT)
37.6
One - off Financial results
0.0
Net Financials
10.3
Share in Associates Results
14.7
Minorities
-3.9
Discontinued Operations
-0.1
Taxes
-9.6
Net Profit after Minorities 2014
64.9
C. Net Profit after minorities
Α. SALES
Β. EBITDA
EBITDA 2013* : EBITDA figure as at 31/12/2013 is adjusted (note 3.9)
BOARD OF DIRECTORS ANNUAL REPORT
