Enea Group posts improved operating results to close 2017 with a double-digit rise in EBITDA and net profit
2017 was another year of further steady growth for Enea Group, the highly-innovative Polish energy and resources conglomerate. The Group increased its generation capacities by acquiring Połaniec Power Plant and by launching Poland’s most modern state-of-the-art 1,075 MW power unit in Kozienice Power Plant. Enea posted a significant year-on-year improvement in most of its financial and operating results, as shown by the 2017 preliminary results.
According to the estimates, Enea Group’s EBITDA in 2017 went up by over 15% year-on-year to reach PLN 2,684bn, whereas the net profit attributable to the shareholders of the Parent soared by 36.5% to PLN 1.07bn.In 2017, Enea Group generated in total 21 TWh of electricity, up by as much as 54% on the previous year. Sales of distribution services to end users and sales of electricity and gaseous fuel to retail customers rose to 19.3 TWh (up by 3.2% on 2016) and to 18.9 TWh (up by 5% on 2016), respectively. Net coal production remained virtually unchanged at 9.1m tonnes year-on-year.
– This past year was very important for Enea Group and not lacking in challenges, including in the Segment of Distribution, affected in the aftermath of violent storms that hit our country last summer. We have enlarged the Group by acquiring new valuable assets in the Generation Segment. We launched Poland’s largest and cutting-edge power unit in Kozienice Power Plant and acquired Połaniec Power Plant, both of which increased our installed generation capacity to over 6.2 GW, further bolstering our position of the second-largest power generation group in Poland. These strategic initiatives have already partially translated into the Group’s improved financial and operating results, but – in the case of Unit No. 11 of Kozienice Power Plant – the effects will become much more noticeable in the results of the subsequent quarters and years – commented Piotr Olejniczak, Vice-President of the Board and Chief Financial Officer at Enea S.A.
The final results will be published in the 2017 consolidated financial statements of Enea Group and non-consolidated financial statements of Enea S.A. The publication is scheduled for 23 March 2018.
Selected consolidated financial and operating results of Enea Group - estimates
|
Enea Group |
Unit |
2016 |
2017 |
% change y/y |
|
Net sales revenues |
PLN m |
11,256 |
11,406 |
1.3% |
|
EBIT |
PLN m |
1,119 |
1,488 |
33.0% |
|
Net profit |
PLN m |
849 |
1,165 |
37.2% |
|
Net profit attributable to the shareholders of the Parent |
PLN m |
784 |
1,070 |
36.5% |
|
EBITDA, including in: |
PLN m |
2,328 |
2,684 |
15.3% |
|
Trade |
PLN m |
154 |
178 |
15.6% |
|
Distribution |
PLN m |
1,111 |
1,073 |
-3.4% |
|
Generation |
PLN m |
517 |
735 |
42.2% |
|
Mining |
PLN m |
612 |
709 |
15.8% |
|
Net coal production |
m tonnes |
9.0 |
9.1 |
1.1% |
|
Total generation of electricity |
TWh |
13.6 |
21.0 |
54.4% |
|
Sales of distribution services to end users |
TWh |
18.7 |
19.3 |
3.2% |
|
Sales of electricity and gaseous fuel to retail customers |
TWh |
18.0 |
18.9 |
5.0% |
Share on:
