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Current Report No. 26/2018

02.08.2018 15:15

Selected estimated consolidated financial data for:

(a) H1 2018

Sales revenue: PLN 9,202 million
EBITDA (operating profit increased by depreciation, amortisation and write-offs for non-financial assets): PLN 2,187 million including:
- Mining Segment’s EBITDA: PLN (66) million
- Generation Segment’s EBITDA: PLN 592 million
- Distribution Segment’s EBITDA: PLN 1,329 million
- Supply Segment’s EBITDA: PLN 326 million
EBIT (operating profit): PLN 948 million
Gross profit: PLN 719 million
Net profit: PLN 563 million
CAPEX: PLN 1,480 million

(b) Q2 2018

Revenue on sales: PLN 4,377 million
EBITDA (operating profit increased by depreciation, amortisation and write-offs for non-financial assets): PLN 895 million including:
- Mining Segment’s EBITDA: PLN (76) million
- Generation Segment’s EBITDA: PLN 126 million
- Distribution Segment’s EBITDA: PLN 691 million
- Supply Segment’s EBITDA: PLN 149 million
EBIT (operating profit): PLN 73 million
Gross loss: PLN (73) million
Net loss: PLN (74) million
CAPEX: PLN 912 million
Net debt as of 30 June 2018: PLN 8,419 million
Net debt/EBITDA ratio as of 30 June 2018: 2.3x
Selected estimated operational data for:

(a) H1 2018

Commercial coal production: 2.53 million tons
Commercial coal sales: 2.50 million tons
Gross electricity production: 7.55 TWh
Heat production: 6.73 PJ
Distribution of electricity: 26.01 TWh (including, to end consumers: 25.00 TWh)
Retail sales of electricity: 17.20 TWh

(b) Q2 2018

Commercial coal production: 1.10 million tons
Commercial coal sale: 1.07 million tons
Gross electricity production: 3.62 TWh
Heat production: 1.05 PJ
Distribution of electricity: 12.59 TWh (including, to end consumers: 12.09 TWh)
Retail sales of electricity: 7.93 TWh

Significant factors impacting Q2 2018 earnings (versus Q2 2017):

a) booking of the write-downs due to the impairment of tangible and intangible fixed assets and the goodwill impairment in the Mining segment in the amount of PLN 733 million, and also of reversing the earlier booked write-downs in the Generation segment in the amount of PLN 345 million. As a consequence, the surplus of the booked impairment charges over the reversed ones in the consolidated financial statements (net impairment) is PLN 388 million, and the total estimated impact on the reduction of the consolidated net financial result will reach PLN 303 million. Detailed information was presented in Current Report No. 25/2018 of July 27, 2018.

b) financial costs due to negative FX differences on the EUR-denominated debt, led to a decrease of TAURON Group’s gross financial result in Q2 2018 by PLN 126 million. In Q2 2017, the FX differences on the EUR-denominated debt led to a decrease in the gross financial result of TAURON Group by PLN 3 million (no impact on EBITDA).
The Company reserves 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 H1 2018, scheduled to be published on 22 August 2018.

Legal basis: Article 17 item 1 of MAR - inside information

 

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