ENEA Group generated over PLN 5 bln revenues in H1 2012

The first two quarters of 2012 proved to be record quarters for the ENEA Capital Group which recorded growths in all the segments. The EBITDA result amounted to PLN 931 mln and the net profit to PLN 456 mln after an increase by 21.7 per cent and 10.2 per cent, respectively.

The ENEA Capital Group in H1 2012 improved the key indicators reaching record results which turned out to be much better than the market expected. The Group for many quarters has been regularly improving its financial results.

The ENEA Capital Group's net revenues from sales in H1 2012 amounted to PLN 5,022 mln which in relation to H1 2011 constituted a growth by PLN 5.8 per cent. The profits of the Group grew much more dynamically. During January-June 2012 it generated the EBITDA profit amounting to PLN 931 mln and the net profit of PLN 456 mln. It means a growth by 21.7 and 10.2 per cent, respectively.

The greatest increase of the EBITDA result was reported in the segment of distribution. It amounted to 19.9 per cent in relation to H1 2011. This segment noted a growth in sales of distribution services to end users by PLN 57.7 mln, which mainly stems from higher average selling price by 4.7 per cent with a lower volume by 6 GWh. Higher revenues from grid connection fees by PLN 15.7 mln also impacted the level of this result.

In the segment of generation the EBITDA result grew by 18.6 per cent, i.e. by PLN 64.2 mln. The sales of electricity decreased by PLN 18.3 mln, however higher by PLN 20.6 mln revenues were reported from certificates of origin. The costs of purchase of energy for sale were lower by PLN 40.5 mln. There was also an increase of the EBITDA result of Elektrociepłownia Białystok and Windfarm Polska because of the inclusion of the Companies to the operations of the ENEA Capital Group.  

The EBITDA growth reported in the segment of trading was 11.1 per cent and amounted to PLN 11.5 mln. In Q2 2012 alone the Group increased the indicator by so much as 191.4 per cent. Higher EBITDA in H1 results e.g. from higher first contribution margin by PLN 28.5 mln. The volume of electricity sales to end users turned to be by 195 GWh higher than the result in H1 2011. The average selling price of energy was higher by 3.2 per cent with higher price of purchase of energy by 1.9 per cent. The EBITDA result of ELKO Trading turned out to be higher by almost PLN 22.9 mln. The results of the segment were burdened with higher by PLN 29.2 mln trading costs, which mainly stemmed from the fact that during January-June 2011 the costs of ELKO Tradinga nd ENEA Centrum were not incurred. Additionally, a lower result on other operating activity was noted by PLN 10.7 mln.  

In H1 the ENEA Capital Group conspicuously increased the return on assets and return on equity - ROA grew to 7.7 per cent (by 1 percentage point in comparison with the same period of 2011), and ROE to the level of 10.6 per cent (by 0.3 percentage point in comparison with H1 2011).

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