Current Report No.: 5/2018
Current Report No.: 5/2018
Date of preparation: 28 February 2018
Short name of issuer: Enea S.A.
Subject: Information on preliminary financial results for 2017
Legal basis: Article 17 item 1 of MAR - confidential information
Content of report:
The Management Board of Enea S.A. has resolved to publish the preliminary financial and operating results for 2017, which are presented below.
Consolidated financial results of Enea Capital Group for 2017:
- Net sales revenue: PLN 11,406m,
- EBITDA: PLN 2,684m,
- EBIT: PLN 1,488m,
- Net profit: PLN 1,165m,
- Net profit attributable to the shareholders of the Parent Company: PLN 1,070m.
EBITDA in individual segments of operations:
- Trade: PLN 178m,
- Distribution: PLN 1,073m,
- Generation: PLN 735m,
- Mining: PLN 709m.
Selected operating data:
- Net production of coal: 9.1 million tonnes
- Total generation of electricity: 21.0 TWh
- Sales of distribution services to end users: 19.3 TWh
- Sales of electricity and gaseous fuel to retail customers: 18.9 TWh
The following events had positive impact on EBITDA generated by Enea Capital Group in 2017:
- Distribution Segment - the situation on the property rights market, after taking into account provisions concerning termination of long-term contracts - PLN 87m
- Generation Segment - Elektrownia Połaniec joining Enea Capital Group - PLN 175m (the value of EBITDA consolidated as from 14 March 2017)
- Mining Segment- provisions change resulting from the signing of an agreement on coal allowances paid in cash to LW Bogdanka pensioners - PLN 115m
Moreover, the 2017 financial result in the Generation Segment was affected by:
- the modernisation of Unit No. 10 (560MW), which commenced in July 2017,
- the continuation in Q4 2017 of works related to the launch and synchronisation of Unit No. 11 (1,075MW)
Non-consolidated financial results of Enea S.A. for 2017:
- Net sales revenue: PLN 5,640m
- EBITDA: PLN 125m
- EBIT: PLN 122m
- Net profit: PLN 1,813m
The non-consolidated net financial result generated by Enea S.A. in 2017 was mostly affected by the reversal of impairment losses on the value of shares in Enea Wytwarzanie Sp. z o.o. recognised in prior periods: PLN 879m.
The final results will be published in the consolidated financial statements of Enea Capital Group and non-consolidated financial statements of Enea S.A. for 2017 whose publication is planned for 23 March 2018.
