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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%

 

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