| |
MESSAGE _ENGLISH VERSION_
|
|
| |
Current Report No.: 10/2026
Date of Preparation: 10 March 2026
Issuer's Abbreviated Name: Enea S.A.
Subject: Information on preliminary financial and operating results for
2025 and Q4 2025
Legal Basis: Article 17_1_ of the Market Abuse Regulation - inside
information
Body of the report:
In connection with the adoption, on 10 March 2026, by the Management
Board of Enea S.A. _"Company", "Issuer"_, of information on preliminary
financial and operating results of the Enea Group for 2025 and Q4 2025,
the Company hereby publishes the said preliminary results.
Consolidated financial results of the Enea Group for 2025:
- Revenue from sales and other income: PLN 28,137 million,
- EBITDA: PLN 5,641 million,
- Profit before tax: PLN 2,428 million,
- Net profit for the reporting period: PLN 1,782 million,
- Net profit attributable to shareholders of the parent company: PLN
1,833 million,
- Capital expenditures on property, plant and equipment and intangible
assets: PLN 7,069 million,
- Net debt / LTM EBITDA ratio: 0.48.
EBITDA in the distinct operating areas:
- Mining: PLN 545 million,
- Generation: PLN 2,132 million, of which: PLN 1,769 million from
conventional energy sources, PLN 112 million from RES, PLN 251 million
from heat,
- Distribution: PLN 2,784 million,
- Trading: PLN 184 million, of which: retail trading of PLN 195 million,
wholesale trading of PLN -11 million.
Selected operating highlights:
- Net coal production: 7.6 million tons,
- Total net electricity generation: 20.4 TWh, of which 1.5 TWh from
biomass and 0.6 TWh from RES,
- Sales of distribution services to end users: 20.3 TWh,
- Sales of electricity and gaseous fuel to retail customers: 24.5 TWh.
Consolidated financial results of the Enea Group for Q4 2025:
- Revenue from sales and other income: PLN 7,453 million,
- EBITDA: PLN 983 million,
- Loss before tax: PLN -928 million,
- Net loss in the reporting period: PLN -940 million,
- Net loss attributable to shareholders of the parent company: PLN -840
million,
- Capital expenditures on property, plant and equipment and intangible
assets: PLN 2,627 million,
- Net debt / LTM EBITDA ratio: 0.48.
EBITDA in the distinct operating areas:
- Mining: PLN 240 million,
- Generation: PLN 663 million, of which: PLN 524 million from
conventional energy sources, PLN 40 million from RES, PLN 99 million
from heat,
- Distribution: PLN 685 million,
- Trading: PLN -403 million, of which: retail trading of PLN -379
million, wholesale trading of PLN -24 million.
Selected operating highlights:
- Net coal production: 2.4 million tons,
- Total net electricity generation: 5.7 TWh, of which 0.4 TWh from
biomass and 0.2 TWh from RES,
- Sales of distribution services to end users: 5.3 TWh,
- Sales of electricity and gaseous fuel to retail customers: 6.5 TWh.
EBITDA generated by the Enea Group in Q4 2025 was driven by the
following factors _as compared to Q4 2024_:
- The lower EBITDA in the Mining Area resulted from a decrease in
revenue from sales of coal. Along with a lower coal sales volume, a
lower sales price was realized.
- In the Generation Area, a lower EBITDA was posted. The System Power
Plants Segment saw a decrease in EBITDA, largely as a consequence of a
decline in the concession result on electricity generation, a lower
margin on electricity trading, a lower margin on the Green Unit and
higher revenue from the Capacity Market. In the RES Segment, an increase
in EBITDA was recorded, driven by stronger performance in the Wind Area.
The Heat Segment saw an improvement in EBITDA, driven by an increase in
the unit margin _mainly due to a decrease in unit fuel costs_.
- In the Distribution Area, the improvement in EBITDA was driven by the
higher margin realized on the concession business and a decline in
provisions related to grid assets. In parallel, operating expenses went
up.
- In the Trading Area, the lower EBITDA was mainly due to an increase in
the estimate of provisions related to onerous contracts. At the same
time, margins in the retail market improved. Moreover, EBITDA was
significantly affected by the establishment of a provision in the amount
of PLN 139.9 million in connection with the decision of the President of
the Energy Regulatory Office _"ERO President"_ on the obligation to
transfer to the Price Difference Fund account an amount representing the
difference between the amount calculated by the ERO President and the
write-off made by the Company to the Price Difference Fund in 2023-2025.
The Issuer disclosed information on the need to establish the provision
in Current Report No. 9/2026.
On account of the application of settlements with eligible offtakers
pursuant to the Act of 7 October 2022 on Special Solutions to Protect
Electricity Offtakers in 2023 and 2024 in Connection with the Situation
on the Electricity Market and on account of the application of the
maximum price in accordance with the Act of 27 October 2022 on Emergency
Measures to Reduce Electricity Prices and Support Certain Consumers in
2023-2025, Enea recognized in Q4 2025 compensation revenues in the total
amount of PLN 115 million and in 2025 in the total amount of PLN 577
million.
Standalone financial results of Enea S.A. for 2025:
- Revenue from sales and other income: PLN 13,285 million,
- EBITDA: PLN 89 million,
- Profit before tax: PLN 1,034 million,
- Net profit for the reporting period: PLN 975 million.
The preliminary results include one-off accounting operations in the
financial statements for 2025, as disclosed by the Issuer in Current
Report No. 8/2026, with the reservation that the values of impairment
losses in the standalone financial statements of Enea S.A. for 2025 have
changed. The value of the shareholding in Enea Wytwarzanie sp. z o.o.
remains unaffected by an impairment loss at approx. PLN 381 million,
while the value of the shareholding in Enea Elektrownia Połaniec S.A.
has been reduced by an additional impairment loss of approx. PLN 388
million and therefore has been written off completely. In total, the
changes described above, as compared to the information provided in the
said Current Report, will affect the standalone financial statements of
Enea S.A. for 2025 by reducing the pre-tax profit and net profit for the
reporting period by approx. PLN 7 million.
Please be advised that the foregoing figures are estimates and as such
are subject to change, and that their final values will be presented in
periodic reports to be published by Enea S.A. and the Enea Group for
2025.
Please note that the term EBITDA is defined as the value of operating
profit _loss_ + depreciation and amortization + impairment losses on
non-financial non-current assets _values for the reporting period_. The
Net debt / LTM EBITDA ratio is equal to _loans, borrowings and
non-current and current debt securities + non-current and current
finance lease liabilities + non-current and current financial
liabilities measured at fair value - cash and cash equivalents -
non-current and current financial assets measured at fair value -
non-current and current debt financial assets measured at amortized cost
- other current investments_ / LTM EBITDA. LTM EBITDA means EBITDA for
the last 12 months.
|
|
|
RB: Informacja w sprawie wstępnych wyników finansowych i operacyjnych za 2025 rok oraz
IV kwartał 2025 roku
