Financial results of ENEA CG in Q3 better than market expectations
ENEA Capital Group improved the efficiency thanks to which it generated higher results on key levels: EBITDA and net profit. The financial standing confirms a good position of the Group on the electricity market in Poland.
During the first 9 months of 2013 the net revenues of ENEA Group amounted to PLN 6,787.2 mln, EBITDA to PLN 1,400.5 mln and net profit to PLN 666.8 mln. Although the revenues were lower by 8.6% than those generated a year before, the Group improved EBITDA by 10.4% and net profit by 9.4% yoy. In the very Q3 2013 the Group generated even higher changes of the key financial figures. With net revenues on the level of PLN 2.2 bln EBITDA grew by 15.1% as compared to the same period of the previous year and amounted to PLN 466 mln and the net profit after a growth by 14.4% reached the level of PLN 215 mln. The results during July-September 2013 were positively affected by the segment of generation (growth by 47.8% yoy), the segment of distribution was constant (growth by 0.6% yoy), a drop by PLN 9.8 mln was reported in the segment of trade.
"We managed to enhance the efficiency of our business, therefore we have a two-digit growth in EBITDA. Stable and continuous cash flows which we generate provide the Group with the access to financing sources. It is substantial having in mind the investments ahead of us." - said Dalida Gepfert, Vice-President of the Management Board of ENEA S.A. for Financial Affairs.
In October the Company published the corporate strategy of ENEA Capital Group for 2014-2020. The value of the investment, which were planned in this period amounts to PLN 20 bln.
"We wish to be a fully integrated energy group, ensure the growth of our value through building Customer confidence. The Company's strategic objectives will allow us to optimally use the Group's potential and flexibly respond to the market challenges." - emphasised Krzysztof Zamasz, President of the Board of ENEA S.A.
Thanks to the planned investments, till 2020 the Group wants to e.g. increase its production capacity within electricity by 1,875 MWe (including: 1,075 MWe in the segment of system power plants, ca. 500 MWe from energy renewable sources, ca. 300 MWe in cogeneration sources) and within heat energy to 1,500 MWt.