An excellent 2010 for the ENEA Capital Group

In 2010 the ENEA Capital Group achieved net sales income of PLN 7,837 million, up by 9.6% from 2009. At the same time the EBITDA of the Poznań-based group increased by 16.9% to PLN 1,365 million. Net profit was PLN 639 million and grew by 24.5% from the previous year. The published results confirm the ENEA Group’s strong position in the power sector.

At PLN 712 million, the ENEA Capital Group’s operating profit was PLN 206.4 million higher than in the previous year. The greatest growth was noted in the distribution segment, where operating profit was up by 87.1% from the PLN 140.7 million achieved in 2009. Sales revenues in this segment amounted to PLN 2,528 million, 10% higher than in 2009. This change was caused primarily by an increase of PLN 155.4 million in the amount of electricity supplied to final consumers and by an increase of 2.3% in the price of distribution services. Earnings in this segment were also affected by a rise of PLN 80.2 million in connection charges. ENEA Operator’s distribution network covers approximately 20 per cent of Poland, mostly in the north-western part of the country. The company owns power lines with a total length of more than 127,500 km and about 34,800 transmission stations.

Operating profit in the generating segment amounted to PLN 313.6 million in 2010 and was up by 45.5% from a year earlier. Revenues amounted to PLN 2,538 million. Among other factors, this derived from a growth of PLN 93 million in compensation for stranded costs to PLN 15.6 million in 2010 and from growth in revenues from certificates of origin of PLN 39.4 million. The Kozienice power station has gross generating capacity of 2,905 MW and is the largest hard coal-fired power station in Poland. In 2010, the power plant generated 12,318,171.6 MWh of electricity.

In the trading segment operating profit fell by 11.1% from the PLN 235.5 million of 2009. Revenues fell by PLN 521 million. This was the result, among other things, of a fall in the coverage margin and of an increase in trading costs. In 2010 total sales of power amounted to about 18.5 TWh, within which sales to retail customers accounted for about 15.5 TWh. About 2.4 million firms and households were final consumers at 31 December 2010.