Energa increases in value by over 40% in the first year of its listing on the WSE

Energa SA celebrates the anniversary of its first listing on the Warsaw Stock Exchange. The investors also have reasons to celebrate: during that period, the value of the Company went up by over 40 percent and the Management Board continues to implement its declarations from the IPO period, including the dividend policy.

The first listing of Energa SA, which took place on 11 December 2013, was preceded by a PLN 2.4 billion public offering, the largest in over three years' time. The IPO was successful and new shareholders subscribed to 34.18% of the company's shares. On the first day of its listing, Energa's capitalization was PLN 7 billion; one year later it is almost PLN 10 billion, up by over 40 percent. During the year, the company was included in some of the top market indices: initially WIG40 and then in the "blue chip" WIG30 index containing the largest companies listed on the Warsaw stock exchange. Then, the time came for international indices: MSCI Poland and FTSE All World. 

As Energa entered the Warsaw Stock Exchange, it chose a defensive business model, with the highest possible returns, efficiency and a conservative capital expenditure program. The strategy of the Group is focused on the regulated distribution segment, renewable energy generation and improvement of customer service quality. 

The overriding objective, which is to create value for shareholders, is carried out by the company by maintaining a business profile with low business risk and a safe capital structure. The continuing improvement in financial results has also been affected by the increasing operational efficiency of the company and the entire Group. The deep restructuring lasting lasted several years and segmentation of operations into generation, sales and service segments has allowed the company to reduce the number of subsidiaries, optimize employment, operating processes and expenses. The company's stable financial position is confirmed by BBB and Baa1 ratings awarded by Fitch and Moody's, respectively.

- Our success with investors is based on the steady and predictable business model, which allows us to earn profit at low risk levels. Investors appreciate stability and predictability. We have also shown proficiency in managing our assets; in recent quarters we have reported high profitability and improvements in business efficiency. Another important factor is that we have been consistent in fulfilling the promises we made before the IPO, especially when it comes to our dividend policy - said Mirosław Bieliński, President of the Management Board of Energa SA. 

The capacity to pay high dividends is one of the most important benefits offered by the company. On 10 June, ENERGA made a profit distribution to its shareholders for the first time as a public company. The stable financial standing and good financial results allowed it to distribute PLN 414 million, or PLN 1 per share. The standalone results of the company earned after 3 quarters of the year confirm its capacity to pay high dividends for this year as well. In accordance with the policy set forth in the prospectus, the Management Board intends to recommend distribution of PLN 500 million of profit and in subsequent years – the amount paid for 2014 indexed at or above the inflation rate. 

 - As I am looking at Energa's performance, I believe that it opened a new chapter in the company’s history and has created opportunity to continue growth.  We do hope that Energa, which has been received so well by investors, will continue to use the Warsaw Stock Exchange to implement its investment plans – said Paweł Tamborski, President of the Management Board of the WSE. 

During the first year of its presence on the stock exchange, Energa noted its first successes: it was selected as one of Capital Market Leaders and received an award from the Warsaw Stock Exchange for the largest public offering in 2013. In the 15th edition of the Listed Company of the Year contest, the company received a distinction from the Puls Biznesu newspaper and it was ranked right after the winners in the study of investor relations of WIG30 companies conducted by Gazeta Giełdy Parkiet, which is quite an achievement for a newcomer to the market. In September, the Company also received the "Responds to Investors" logo awarded by Puls Biznesu as part of its "Investor Campaign" to companies that regularly communicate with individual investors.

Energa on the Stock Exchange

• Indices: WIG30, WIG Energia, WIG, MSCI Poland, FTSE All World
• 52-week high: PLN 25.27
• 52-week low: PLN 14.52
• Analytical reports: 32, of which 16 with a Buy recommendation
• Ratings: Moody’s: Baa1 with a stable outlook, Fitch: BBB with a stable outlook