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12/15/2019 4:43:18 PM
 
 
 

Current Report No. 19/2018

26.04.2018 14:45

Estimated results of TAURON Polska Energia Group for Q1 2018

The Management Board of TAURON Polska Energia S.A. (“the Company”) announces selected estimated consolidated financial results and operating data of TAURON Polska Energia Capital Group (“TAURON Group”) for Q1 2018.

Selected estimated financial results for Q1 2018:

Sales revenue: PLN 4 826 million
EBITDA (operating profit increased by depreciation, amortization and write-offs for non-financial assets): PLN 1 292 million, including:
a) Mining Segment’s EBITDA: PLN 10 million
b) Generation Segment’s EBITDA: PLN 465 million
c) Distribution Segment’s EBITDA: PLN 638 million
d) Supply Segment’s EBITDA: PLN 178 million
EBIT (operating profit): PLN 875 million
Net profit: PLN 637 million

CAPEX: PLN 569 million
Net debt as of 31.03.2018: PLN 8 419 million
Net debt/EBITDA as of 31.03.2018: 2.3x

Selected estimated operating data for Q1 2018:

Commercial coal production: 1.42 million tons
Commercial coal sales: 1.43 million tons
Gross electricity production: 3.94 TWh
Heat production: 5.68 PJ
Distribution of electricity: 13.5 TWh (including to end consumers: 13 TWh)
Retail electricity sales: 9.27 TWh

Significant factors impacting Q1 2018 earnings (versus Q1 2017):
- dissolving of the provisions related to employee benefits at TAURON Wytwarzanie S.A. in the amount of PLN 230 million (Generation segment). The information on dissolving of the provisions was disclosed in the current report (regulatory filing) no. 12/2018 of April 6, 2018,
- financial costs due to the negative FX differences on the EUR-denominated debt which led to a decrease of TAURON Group’s gross financial result in Q1 2018 by PLN 22 million. In Q1 2017 the FX differences on the EUR-denominated debt led to an increase of TAURON Group’s gross financial result by PLN 74 million (no impact on EBITDA),
- financial costs in the amount of PLN 30 million due to the valuation of the loans granted to Elektrociepłownia Stalowa Wola S.A. (Stalowa Wola Combined Heat and Power Plant) by TAURON Polska Energia (as a result of signing the agreement regarding consolidation of the debt of Elektrociepłownia Stalowa Wola S.A. towards TAURON Polska Energia S.A.), which led to a decrease of TAURON Group’s Q1 2018 gross financial result (no impact on EBITDA).

The Company informs that the figures presented above represent estimated values and may be subject to change. The final values will be presented in the consolidated report for Q1 2018, scheduled to be published on May 16, 2018.

Art. 17, clause 1 of MAR – inside information

 

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