The new Development Program 2021 – 2025 which incorporates the Company’s Business Plan, was approved on 12/11/2020 by EDA THESS’ Board of Directors and submitted to the Regulatory Authority for Energy, following the report of the General Manager, Mr. Leonidas Bakouras and the consent of the shareholders DEPA Infrastructure and Eni gas e luce.
The new program foresees total investments of € 158.2 million, with an increase of € 8.2 million compared to the previous one and creates new growth prospects, making EDA THESS a leader in the Greek energy market. The strategy of the program is based on financial, commercial, technical and environmental factors that guarantee the Company’s strong development. It is structured according to the following main strategic pillars:
Following the decision of approval by the BoD and submission of the Development Program - Business Plan 2021 - 2025 to RAE, the Chairman of the Board, Mr. Ioannis Tsitsopoulos stated in this regard:
"The new development program 2021-2025 certifies the Company’s continuous upward course but also its strong will to move dynamically with sustainable investments in order to meet the growing needs of Municipalities and citizens in natural gas. We continue to face energy challenges with planning and efficiency. Congratulations to the General Manager, to the executives and employees of the Company who have managed with hard work to turn it into a healthy and sustainable company with an international impact".
For his part, Mr. Bakouras stated that “it is an ambitious Sustainable Investment Program amounting to € 158.2 million for the development of the natural gas market in Thessaloniki and Thessaly, which includes approved figures and reasonable assumptions following the regulatory decisions taken by the Authority. At the heart of the strategy is the digital transformation of the Company's operations, an ongoing process, and the investment in innovative technologies that will enable the transition to the decarbonization of the energy system and the integration of renewable gases”.
Achieving business goals at 100% for 2020. EDA THESS completes its investment plan of € 36 million for 2020, adding more than 22,000 new consumers to its network and with operating profitability (EBITDA) which is expected to reach €42,9 million, an increase of 3.37% compared to 2019.
Given the effects of the pandemic, EDA THESS took effective decisions to ensure continuity in its operational activity. This is evidenced by the strong results it presents throughout the year. With all the tools for the management of emergency situations, EDA THESS continues at a rapid pace its strategic planning for the next 5 years.