Very successful three quarters of ENEA CG

After three quarters of 2011 ENEA Capital Group improved its operating result by 26.9 per cent or PLN 164 mln. During that time revenues also dynamically grew which increased by 23 per cent to PLN 7,168 mln. EBIDTA result amounted to 1,295 mln and net profit PLN 721 mln.

Successful three quarters constitute continuation of positive trends from 2010 and H1 2011. Pursuant to the Management Board’s predictions the Company has been consequently improving  its key indicators.

Net revenues on sales of ENEA Capital Group after three quarters amounted to PLN 7,168 mln after a 23 per cent growth in relation to the analogical period of 2010. Almost a 27 per cent increase was noted in the operating profit of the Group which amounted to nearly PLN 775 mln. During the period of nine months the EBITDA results were generated at the level of PLN 1,295 mln and net profit amounted to PLN 721. The growth within these areas amounted to 17,6 and 31,8 per cent, respectively.  

The greatest increase of the operating result was noted in the segment of Generation. It amounted to over 87 per cent in relation to the first three quarters of 2010. It may be attributed mainly to:  increase of revenues on sales of electricity by PLN 252,2 mln being a result of increased by 990 GWh sales of electricity and growth in revenues from certificates of origin by PLN 46.0 mln. A positive impact on the result within his segment was inclusion of the appraisal of Bialystok Heat and Power Plant.

During the period of the first nine months of 2011 Elektrownia “Kozienice” S.A. noted higher revenues from sales of electricity. It sold electricity worth of PLN 221.6 mln more than during the analogical period of the previous year. It occurred with the average sales price higher by 3.1 per cent. 

Another segment in which a growth was noted in the operating result is Distribution. During the first nine months of 2011 it amounted to 14.3 per cent or PLN 38.7 mln. The key impact on the growth of distribution services for end users and increase of the average sales price. Fees for connection to the grid were higher by PLN 9 mln. The Company also noted increased result on other operating activity by PLN 24.4 mln. It was related to higher revenues by titles of fixed assets received free of charge.   

ENEA Capital Group noted decrease in the operating result by PLN 49.3 mln in the segment of Trading cumulatively after three quarters. It is a decrease by 26.2 per cent. It was a result of a lower first contribution margin and drop in the volume of sold energy.

During the first three quarters of 2011 ENEA Capital Group substantially increased the return on assets and equity – ROA indicator grew to the level of 7.8 per cent (by 1.3 percentage point) and ROE to the level of 11.5 per cent (by 2 percentage points.).