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Current Report No. 40/2017

25.10.2017 00:00

Estimated results of TAURON Polska Energia Group for the first 9 months of 2017 and Q3 2017

​The Management Board of TAURON Polska Energia S.A. (“the Company”) announces selected estimated consolidated financial results and operating data of TAURON Polska Energia S.A. Capital Group (“TAURON Group”) for the first 9 months of 2017 and Q3 2017.

Selected estimated financial results for the first 9 months of 2017:

Sales revenue: PLN 12,875 million

EBITDA (operating profit increased by depreciation, amortization and write-offs for non-financial assets): PLN 2,877 million, including:

a) Mining Segment’s EBITDA: PLN (42) million

b) Generation Segment’s EBITDA: PLN 386 million

c) Distribution Segment’s EBITDA: PLN 1,795 million

d) Supply Segment’s EBITDA: PLN 691 million

EBIT (operating profit): PLN 1,580 million

Net profit: PLN 1,194 million

CAPEX: PLN 2,217 million


Selected estimated operating data for the first 9 months of 2017:

Commercial coal production:4.68 million tons

Commercial coal sales: 5.01 million tons

Gross electricity production: 14.03 TWh

Heat production: 7.91 PJ

Distribution of electricity: 38.31 TWh (including to final consumers: 36.47 TWh)

Retail electricity sales: 25.56 TWh


Selected estimated financial results for Q3 2017:

Sales revenue: PLN 4,120 million

EBITDA (operating profit increased by depreciation, amortization and write-offs for non-financial assets): PLN 783 million, including:

a) Mining Segment’s EBITDA: PLN (37) million

b) Generation Segment’s EBITDA: PLN 80 million

c) Distribution Segment’s EBITDA: PLN 591 million

d) Supply Segment’s EBITDA: PLN 146 million

EBIT (operating profit): PLN 343 million

Net profit: PLN 189 million

CAPEX: PLN 722 million

Net debt as of 30.09.2017: PLN 7.9 billion

Net debt/EBITDA as of 30.09.2017: 2.1x


Selected estimated operating data for Q3 2017:

Commercial coal production: 1.36 million tons

Commercial coal sales: 1.45 million tons

Gross electricity production: 4.57 TWh

Heat production: 0.82 PJ

Distribution of electricity: 12.61 TWh (including to final consumers: 12.04 TWh)

Retail electricity sales: 8.35 TWh


Significant factors impacting Q3 2017 earnings (versus Q3 2016):

- decrease of the volume of coal sold by 0.2 million tons, i.e. 11.2 percent, as a result of coal faces’ reinforcement works as well as mining and geological issues (Mining segment),

- significant drop of the costs of redeeming property rights due to the lower price of purchasing green certificates by the Supply segment (as a consequence of the declining market prices of green certificates),

- 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 Q3 2017 by PLN 64 million. In Q3 2016 the FX differences on the EUR denominated debt led to an increase of TAURON Group’s gross financial result in Q3 2017 by PLN 20 million.


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 Q3 of 2017, scheduled to be published on November 8, 2017.

Art. 17, clause 1 of MAR – inside information
 

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