The plan to cope with the local weather dangers that threaten Attica with water shortages was introduced yesterday by the CEO of EYDAP, Mr. Haris Sahinis, within the context of the Common Basic Assembly of the shareholders of the listed firm, analyzing the speedy and long-term actions that the corporate will take to the secure water provide of virtually half of the nation’s inhabitants.
With the goal of coping with the results of two years of drought and elevated consumption, it has deliberate a sequence of speedy measures in addition to different water provide eventualities for the following 5 years.
EYDAP
Thus, today water pumping from Yliki will likely be activated, as much as 17 boreholes will likely be put into operation in Mavrosouvala in addition to boreholes within the center stream of Boiotiko Kifissos. On the identical time, a water saving marketing campaign has been launched and a central message: “Would you like water? Flip off the faucet.” The better price of the preventive measures will likely be paid by the corporate EYDAP Pagion.
The plan of the second section
Nonetheless, EYDAP has additionally ready a second section plan, which will likely be activated relying on the image of the following hydrological intervals, i.e. from September to March. With right now’s knowledge, there are water reserves for not less than three years, as Mr. Sahinis talked about. “With varied actions, 100 million cubic meters will likely be added yearly, and relying on the extent of the water reserves, the measures will likely be carried out”, he commented.
Among the many mid-term options which have fallen on the desk are the inclusion of recent reservoirs within the water provide system, the enrichment of the underground aquifer with recycled water from the Wastewater Therapy Facilities and desalination, different eventualities with an estimated price of 500 to 750 million euros.
Desalination in 4-5 areas
Answering questions, Mr. Sahinis gave particulars on different water provide options. Concerning desalination, he identified that though it has a excessive vitality price, it’s a mannequin that may assist and that’s the reason they’re already inspecting 4-5 areas by which the corporate might proceed with desalination. He additionally targeted on the water recycling and purification plan – e.g. within the services of Psyttalia or Thriasio – which might be used primarily for agricultural and industrial use, but additionally for enriching the water desk. In truth, the preparation of a grasp plan relating to the wants for recycled water within the wider space of the capital has begun. EYDAP already promotes related fashions on a smaller scale, akin to e.g. in Elliniko (with extension to close by areas of the Athenian Riviera) to irrigate the park that will likely be created there, the golf services and different infrastructure.
Extension of the Evinos – Mornos tunnel
Additionally, one other different answer might be the “connection”, by the Evinos and Mornos tunnel, and different tributaries linked to Kremasto Lake. As Mr. Sahinis had mentioned just lately, and from the ground of the Parliament, the potential of extension is being thought of – as has already been carried out from Mornos, with a 30 km tunnel, to Evinos – on condition that 10 km additional there’s a tributary that ends within the Kremasto lake and one other 10 km. then one other tributary. From the particular tributaries the water can come to Evinos by gravity, limiting vitality prices. Specifically, for Kremasta the capability is 5 billion m2. of water, when all EYDAP’s reservoirs collectively have a capability of about 1.2 billion cubic meters.
Funding sources
As the pinnacle of EYDAP identified yesterday, as a way to implement the particular investments, the corporate is intensively inspecting all sources of financing, particularly subsidies from varied home and European packages, in addition to financing with low rates of interest. “The technical help settlement from the European Funding Financial institution to assist the corporate’s funding program is transferring on this route. The settlement foresees the supply of technical help by the EIB providers for the prioritization of actions and the implementation of portfolio tasks, throughout the framework of the technique developed by EYDAP to optimize effectivity as a part of adaptation to local weather change”, he underlined.
Important earnings progress, improved EBITDA and dividend
As Mr. Sahinis talked about, EYDAP is continuing with the distribution of a revenue dividend for the yr 2023 within the quantity of 10,650,000 euros, i.e. a dividend of 0.10 euros per share. In 2023, the corporate tripled its investments in comparison with 2019. The absorption of the funding program amounted to 44.2 million euros, elevated by 45% in comparison with the absorption of 2022. The funding program 2024 – 2033 considerations:
- main tasks in Japanese Attica (958.7 million euros.)
- water community tasks (681.6 million) with growth of Athens in the direction of the seashore entrance, alternative of outdated networks with a median lifetime of 60 years and sensible meters
- sewerage works (364.5 million)
- vitality, constructing, digital governance and transformation tasks (103.8 million).
The whole finances of the tasks quantities to roughly 2.1 billion euros, of which 50% of the finances is financed by the EU, aside from the medium-term water provide tasks amounting to 500-750 million euros.
The corporate’s turnover was 351.6 million euros, exhibiting a rise of two.4%. Total, from its major actions (water provide and sewerage), EYDAP confirmed a rise in income by 8 million (+2.5%). Earnings earlier than taxes, funding outcomes and depreciation (EBITDA) confirmed a big improve of 56% (or 21.8 million euros) and amounted to 60.8 million euros, whereas the EBITDA margin elevated to 17.3% from 11 .4% in 2022. Its income after taxes confirmed a rise and amounted to twenty.3 million euros. Internet revenue margin stood at 5.8% from 1.5% in 2022.
Concerning water billing costs, primarily based on the actions taken to comprise water tariffs, EYDAP intends to suggest a brand new tariff that will likely be primarily based on the logic of the permitted revenue and the regulated asset base.
Supply: OT.GR
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