Tag: debt

PPC has to cut expenses by 500 million euros in 2018 – Greece, 8 February 2018

According to media, McKinsey consulting group has recommended to Greek state-controlled Public Power Corporation (PPC) to cut its expenses in 2018 by some 500 million euros, that would include expanding its voluntary exit program from 110 million euros to 250 million euros. McKinsey, which was hired by PPC to assist the company in preparation of […]

PPC’s unpaid receivables exceed 2.4 billion euros – Greece, 17 November 2017

According to the latest data published by Greek state-controlled Public Power Corporation (PPC), the amount of its unpaid receivables increased in the recent period and currently stands at 2.405 billion euros. The majority of these receivables originate from low-voltage consumption, namely unpaid electricity bills by households, which amounts to about 2 billion euros. The aforementioned […]

Brod oil refinery continues to accumulate losses – Bosnia and Herzegovina, 13 November 2017

Bosnian oil refinery Bosanski Brod, owned by Russian Zarubezhneft, continues its poor financial performance in 2017, while the market value of its shares has hit historical low and now amounts just slightly over 800,000 euros, which is equivalent to a third of the price of one petrol station. One share of Brod refinery with the […]