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Current Report No. 52/2020

04.11.2020 20:00

TAURON Polska Energia Capital Group’s estimated results for Q1-3 2020 and Q3 2020.

TAURON Polska Energia S.A. (“Company”) presents selected estimated consolidated financial results and operating data of TAURON Polska Energia S.A. Capital Group (“TAURON Group”) for Q1-3 2020 and Q3 2020.

The Company informs that due to the ongoing process of selling shares in TAURON Ciepło Sp. z o.o. ("TAURON Ciepło") and in accordance with IFRS 5 ("Fixed assets held for sale and discontinued operations"), the prerequisites for recognizing the shares in TAURON Ciepło as fixed assets held for sale in the Company’s standalone financial statements and TAURON Ciepło's net assets as a group to be disposed of, classified as held for sale in the TAURON Polska Energia S.A. Capital Group’s consolidated financial statements, were met as of the balance sheet date, September 30, 2020. The values presented below as discontinued operations refer to TAURON Ciepło.

Selected estimated consolidated financial results for:
(a) Q1-3 2020

Sales revenue and compensation: PLN 15 287 million, including discontinued operations: PLN 344 million
EBITDA (operating profit increased by amortization and write-offs for non-financial assets): PLN 3 414 million, including discontinued operations: PLN 91 million
EBITDA divided into segments:
- Distribution: PLN 2 417 million
- RES: PLN 217 million
- Generation: PLN 48 million
- Supply: PLN 641 million
- Mining: PLN (32) million
EBIT (operating profit): PLN 886 million, including discontinued operations: PLN (793) million
Negative exchange rate differences on debt denominated in euro: PLN (186) million
Gross profit/loss: PLN 601 million, including discontinued operations: PLN (795) million
Net profit/loss: PLN 60 million, including discontinued operations: PLN (797) million
CAPEX: PLN 2 728 million, including discontinued operations: PLN 67 million

(b) Q3 2020

Sales revenue and compensation: PLN 5 101 million, including discontinued operations: PLN 45 million
EBITDA (operating profit increased by amortization and write-offs for non-financial assets): PLN 1 006 million, including discontinued operations: PLN: 0
EBITDA divided into segments:
- Distribution: PLN 728 million
- RES: PLN 54 million
- Generation: PLN 22 million
- Supply: PLN 238 million
- Mining: PLN (39) million
EBIT (operating profit/loss): PLN 524 million, including discontinued operations: PLN (16) million
Negative exchange rate differences on debt denominated in euro: PLN (37) million
Gross profit/loss: PLN 484 million, including discontinued operations: PLN (16) million
Net profit/loss: PLN 377 million, including discontinued operations: PLN (15) million
CAPEX: PLN 915 million, including discontinued operations: PLN 34 million

The following ratios jointly relate to continued and discontinued operations:
Net debt as of September 30, 2020: PLN 10 098 million
Net debt/ EBITDA as of September 30, 2020: 2.53x


Selected operational data for:

a) Q1-3 2020:

Distribution of electricity: 36.94 TWh, including to final consumers: 35.76 TWh
Gross electricity production: 8.71 TWh, including gross electricity production from renevable energy sources: 1,39 TWh
Heat production: 7.51 PJ
Retail electricity sales: 23.71 TWh
Commercial coal production: 3.59 million tons
Commercial coal sales: 2.97 million tons


(b) Q3 2020

Distribution of electricity: 12.34 TWh, including to final consumers: 11.91 TWh
Gross electricity production: 2.85 TWh, including gross electricity production from renevable energy sources: 0.40 TWh
Heat production: 0.82 PJ
Retail electricity sales: 7.72 TWh
Commercial coal production: 1.10 million tons
Commercial coal sales: 1.09 million tons


The figures presented above represent estimated values and may be subject to change.
The final values will be presented in the consolidated report for Q3 2020, scheduled to be published on November 18, 2020.


Article 17 item 1 of MAR – inside information
 

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