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Estimated selected financial and operating data for the first quarter of 2021

  • No. of the report: 15/2021
  • Report date: 11.05.2021 19:13
  • Report legal ground: Art. 17 sect. 1 of MAR – inside information.

Contents of the report

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The Management Board of PGE Polska Grupa Energetyczna S.A. (“PGE”) publishes initial selected consolidated financial and operating data for the first quarter of 2021.

According to the initial estimates net electricity production at PGE generating units in the first quarter of 2021 amounted to 17.1 TWh, distribution volume arrived at 9.5 TWh and sales to final off-takers came out at 9.7 TWh. Heat sales volume amounted to 23.0 PJ.

Consolidated EBITDA for the first quarter of 2021 amounted to approximately PLN 2 206 m, including:

EBITDA of Conventional Generation segment PLN 511 m,

EBITDA of District Heating segment PLN 510 m,

EBITDA of Distribution segment PLN 658 m,

EBITDA of Supply segment PLN 352 m,

EBITDA of Renewables segment PLN 193 m.

EBITDA of Circular Economy segment* PLN 9 m.

* segment created as of January 1, 2021. The companies from this segment previously operated in segments: Conventional Generation, District Heating and Other operations.

Consolidated net profit attributable to equity holders of the parent company amounted to approximately PLN 808 m (i.e. earnings per share of PLN 0.43). CAPEX amounted to PLN 839 m. Estimated net debt amounted to approximately PLN 9 068 m as at March 31, 2021.

Average electricity wholesale price realized by Conventional Generation segment in the first quarter of 2021 amounted to PLN 248.2 per MWh.

Disclaimer: Presented values are estimated and may change. Consolidated financial statements of the PGE Group are still in the preparation process. The consolidated report for the first quarter of 2021 will be published on May 25, 2021.

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