Enea has consistently changed for the benefit of Customers

A profound reconstruction of the Company, changes in its structure and focusing on Customers' needs improved the Group's operations and are building its competitive advantages. Enea reduced its costs by as much as PLN 252 mln and once again reports good financial results. In 2014 consolidated EBITDA grew by 14.8% yoy to PLN 1,915 mln and net profit after a growth by 25.8% yoy amounted to PLN 909 mln.  

2014 was a time of numerous significant changes in the Group relating to the implementation of an ambitious corporate strategy. Due to the above, Enea is currently able to use the created competitive advantages, and swiftly responds to market challenges and needs of its Customers. At the same time, PLN 20 billion worth of the investment programme is being implemented.

- The first, very intensive year of the strategy realisation is behind us. We are effectively changing the Group into an organisation which is modern, efficient and responds flexibly to market situation. Due to the huge commitment and everyday effort of our Employees, we have already seen indicative, good results. We have reduced the costs of operations more than was anticipated. Over the year, their value amounted to PLN 252 mln, of which PLN 133 mln in the segment of generation, and PLN 102 mln in the segment of distribution. Good financial results are a consequence of these changes - said Krzysztof Zamasz, President of Enea.

Enea becomes a modern, efficient energy company

The previous year was the period of reorganisation of Enea Group's structures and introduction of a new corporate governance. Due to these changes, the Group was able to build competitive advantages on a difficult energy market. The new structure ensures a quicker reaction to Customers' needs and facilitates management. Customer Service quality and relations with Customers are presently supported by CCSS (Comprehensive Customer Service Systems).

At the same time, Enea Group introduced a precise division of functions among the Group companies. Managing these processes is supported by modern ERP information systems. Due to a new SAP programme it is possible to integrate the key information in the Group in one place. IFS supports generation segment management. Electronic circulation of documents (IPS) provides information on invoices and orders to SAP and IFS systems - it allows eliminating doubled procedures and quickens information flow in the Group.

The new risk management model complies with the best market practices in this field and impacts the considerable increase in the Group's safety. The key strategy of its functioning is coordination of the risk management processes in the Group by Enea SA. The Group Companies manage risks based on homogeneous standards specified in policies and procedures and within allocated limits and subject to the terms approved by ENEA Group's Risk Committee.

One of the results of the changes is also a new strategy and architecture of Enea brand. The Group refreshed its logo, and presently uses two colours: white and dark blue. The Group's core companies which had different names, are already using the common one. They are: Enea Oświetlenie (formerly Eneos), Enea Pomiary (formerly Energomiar), Enea Logistyka (formerly BHU) and Enea Serwis (formerly Energobud Leszno). All the Group companies, except for the distribution company, use the same logo. Additionally, Enea uses two separate graphic devices for its corporate foundation and authorised trading partners. 

The Company cares for Customers' world

Enea prepared new product ranges for its existing and future Customers. It communicates them modernly and efficiently as part of "ENERGY +" campaign. "ENERGY +" product packages is a proposal of selling energy with a guaranteed price and additional benefits for individual Customers. "ENERGY + Savings", despite the fixed price for energy guarantees an advantageous bank account with a possibility of reimbursing some costs of the bill, and "ENERGY + Peace of Mind" is an additional advantage related to insurance.

- Our individual Customers are offered a range of attractive products, which not only guarantee a fixed price for energy for many months, but also additional benefits: an attractive bank account or insurance. Soon, we will present new interesting proposals of that type to Customers related to medical services or professional help - announces Grzegorz Kinelski,Vice-President of the Board for Commercial Affairs.

 "ENERGY + Power of prizes" is a lottery participated by all Customers who will change their present tariff to Enea's product range between 16 March and 12 June. What can be won is e.g. a year of free energy. As part of "ENERGY + Power of experiences" and "ENERGY + Healthy Lifestyle" Enea communicates its sponsoring activities.

Investment plan is being implemented as anticipated

In 2014, ENEA Group spent over PLN 2.7 billion for investments, i.e. by 25.3% more than in 2013. At the same time, it maintained net debt/EBITDA ratio on a low level, 0.5. Due to implemented organisational solutions, the Group builds an optimal investment portfolio.

- Our financial standing is stable, supported with a large amount of cash. We are profoundly prepared for financing strategic investment projects, we have secured the advantageous conditions of investment financing during the next years. In February 2015 we successfully performed the issue of the first series of bonds totalling to PLN 1 billion. We observed a great interest of investors. Finally, the issue was taken up by 21 entities - banks, investment fund companies, open-end pension funds and insurers - emphasised Dalida Gepfert, Vice-President of the Board for Financial Affairs.

The most important investment, i.e. the construction of the new unit in Kozienice Power Plant, is realised very swiftly and with no delays. At the end of 2014, the progress of construction works of unit No. 11 was around 50%.

The latest video from the construction site of the power unit in Kozienice power plant

- In 2015 we are planning to invest around PLN 3.6 billion. Growths relate to all the areas of operations. In the segment of generation the most important expenditures are related to the construction of unit No. 11 and acquisitions in the sector of wind farms. In the area of distribution we will designate funds for modernisation of the existing infrastructure and connections of new customers and generators of electricity - informed Paweł Orlof, Vice-President of the Board for Corporate Affairs.

Very good financial results

Consolidated net sales revenue in 2014 increased by 7.7% yoy to PLN 9,855 mln. EBITDA result amounted to PLN 1,915 mln and was by 14.8% better than the one reported in the previous year. Net profit, after a growth by 25.8% yoy amounted to PLN 909 mln.   

Factors which positively affected the results realised in 2014 include e.g.:

• lower average purchase price of energy for sale;
• higher volumes of electricity sales to end users in the segment of trade by 3,123 GWh;
• realisation of the savings programme;
• recognition of revenue from compensation for stranded costs.

- Due to an optimal use of the resources and vast activities pursuing the Group's efficiency growth, we are consistently increasing its value, which is demonstrated in figures. We prove that in a demanding market environment we are able to improve financial results - emphasises Krzysztof Zamasz, President of Enea.

In 2014, the highest EBITDA was generated in the segment of distribution and amounted to PLN 1,159 mln - growth by 24.2% yoy. The segment of generation reported EBITDA in the amount of PLN 708 mln which is by 26.6% more than in the previous year. A strong competition on the market resulted in EBITDA amounting to PLN 106 mln in the segment of trade.

In Q4 2014 alone, Enea Group's net sales revenue amounted to PLN 2,628 mln and grew by 11.2%. EBITDA grew by 45.9% to PLN 399 mln and net profit by 19.6% to PLN 73 mln.