ENEA made PLN 414 mln profit in H1 2011

The first six months of this year proved to be very successful for the Poznan Energy Group.  ENEA reported an over 20 per cent increase on sales return and almost 14 per cent increase in net profit. In the segment of Generating the greatest improvement was reported for the operating result.

The ENEA Capital Group during H1 2011 improved key indicators. It is a continuation of positive trends that have breen observed in the Company’s result for several quarters.

Net sales revenues of the ENEA Capital Group in H1 amounted to PLN 4,746 mln, which in comparison with the analogical period of 2011 indicates a 21 per cent increase. A substantial increase, i.e. by over 11 per cent, was reported for the operating result of the Group which attained PLN 438 mln during the first six months.

The greatest increase in the operating result was gained in the segment of Generating. It amounted to 67 per cent in relation to H1 2010. This segment reported increases in sales of electricity by PLN 187 mln, that is an increase in sold energy by 745 GWh with an increase of the average price by 3.4 per cent. Simultaneously, the costs of purchase of energy for resale  increased (an increase by PLN 147 mln). What impacted the result in the segment of Generating was also higher, by PLN 24.5 mln, revenues from sales of certificates of origin and lower, by PLN 23.5 mln, costs of external services.

Another segment in which an increase in the operating result was noticed is Distribution. A 5 per cent increase (PLN 8.8 mln) was impacted by an increase in sales of distribution services by PLN 42.9 mln, an increase in electricity delivered to end users by 168 GWh, with a simultaneous average increase in sales price by 1.6 per cent.

The Group retorted a drop in the segment of Turnover by 26 per cent, that is PLN 36 mln. The key factor that impacted the situation is a decrease in the contribution margin by PLN 34 mln. A lower, by 551 GWh, was the volume of sold electricity, and an increase in the sales price by 1.6 per cent did not cover the price of purchase of electricity that increased by 5.7 per cent.   

In H1 2011 the ENEA Capital Group increased return of assets and equity – ROA increased to the level of 6.7 per cent (by 0.3 percentage point in comparison with the same period of 2010) and ROE to the level of 10.3 per cent (by 0.7 percentage points in comparison with the same period of 2010).