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MESSAGE _ENGLISH VERSION_
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Current report No. 6/2024
Date: 21 February 2024
Subject: Estimated financial and operational data of the Energa Group
for Q4 2023 and for 2023
Legal basis: Article 17 _1_ of MAR - inside information
The Management Board of Energa SA hereby reports estimated selected
financial and operational data of the Energa Group _"Group"_ for the
fourth quarter of 2023 and for 2023.
Estimated selected data for Q4 2023:
Revenues of the Group: PLN 6,597 million _vs. PLN 5,420 million in Q4
2022_.
EBITDA of the Group: PLN -496 million _vs. PLN -525 million in Q4 2022_.
Operating result _EBIT_ of the Group: PLN -816 million _vs. PLN -817
million in Q4 2022_.
Net profit of the Group: PLN -855 million _vs. PLN -584 million in Q4
2022_.
CAPEX of the Group: PLN 1,446 million _vs. PLN 1,029 million in Q4 2022_.
Distribution of electricity: 5,801 GWh _vs. 5,751 GWh in Q4 2022_.
Gross production of electricity: 971 GWh _vs. 1,126 GWh in Q4 2022_.
Retail sales of electricity: 4,571 GWh _vs. 4,679 GWh in Q4 2022_.
The Energa Group generated EBITDA _operating profit before amortization
and impairment of non-financial non-current assets_ of PLN -496 million
in Q4 2023. This result was mainly influenced by a provisions for
onerous contracts in the Sales Business Line _the result of the tariffs
of the President of the Energy Regulatory Office for households and
regulations on electricity sales prices_ and the provision created by
Energa Obrót SA due to penalties imposed by the President of the Energy
Regulatory Office. The Distribution Business Line recorded lower y/y
results, primarily due to the high price of electricity purchase to
cover grid losses.
Estimated selected data for 2023:
Revenues of the Group: PLN 26,086 million _vs. PLN 20,444 million in
2022_.
EBITDA of the Group: PLN 2,862 million _vs. PLN 2,573 million in 2022_.
Operating profit _EBIT_ of the Group: PLN 1,668 million _vs. PLN 1,367
million in 2022_.
Net profit of the Group: PLN 764 million _vs. PLN 1,009 million in 2022_.
Capital expenditures: PLN 4,334 million _vs. PLN 3,260 million in 2022_.
Distribution of electricity: 22,411 GWh _vs. 23,233 GWh in 2022_.
Gross production of electricity: 3,449 _vs. 4,533 GWh in 2022_.
Retail sales of electricity: 17,117 GWh _vs. 17,992 GWh in 2022_.
In 2023, the Energa Group reported an EBITDA result of PLN 2,862
million, which means an increase by 11% YoY. The largest impact on this
increase had the Sales Business Line and one-off events influencing the
result of this Line, including a favorable change in the balance of
provisions for onerous contracts and income from exit fee for
transferring wholesale trade processes to Orlen Energia. At the same
time, negative events occurred, including: lower margin on the sale of
electricity, including as a result of the Regulation on reducing energy
prices for households. The Distribution Business Line recorded lower y/y
results, primarily due to the high price of energy purchase to cover
grid losses. In turn, the lower EBITDA of the Generation Business Line
was the result of a significant decline in the result of the power plant
in Ostrołęka due to significantly lower production by this asset and
unfavorable market conditions affecting its profitability. In the case
of lower results in the RES area, the main factor was the regulations in
force in 2023, which limited the maximum energy sales prices.
The data presented are estimates and are subject to review by the
auditor, therefore they may change. The final financial and operational
data of the Energa Group for Q4 2023 and for 2023 will be presented in
the consolidated financial statements of the Energa Group for 2023.
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RB: Szacunkowe dane finansowe i operacyjne Grupy Energa za IV kwartał 2023 roku i za 2023
rok
