Q3 2016 results confirm the Energa Group’s stable growth

The Energa Group recorded stable operating results in Q3 2016. The key Distribution Segment delivered EBITDA similar to last year’s figure. EBITDA in the Sales and Generation Segments was down from the corresponding period of last year, as the Group’s estimated financial information for July-September 2016 show.

According to preliminary estimates, the Energa Group’s EBITDA was PLN 439 m in Q3 2016 compared to PLN 499 m in the corresponding period of last year. The Distribution Segment delivered EBITDA of PLN 390 m compared to PLN 404 m one year before. The Generation Segment delivered EBITDA of PLN 27 m while the Sales Segment delivered EBITDA of PLN 36 m (a decline of 60% and 27%, respectively).

The Management Board of the Energa Group has decided to start publishing preliminary financial results in response to investor expectations and to enhance openness and transparency in our financial communication, thereby making it easier to analyze the Company’s results and operating performance.

“We want to report our achievements, performance and plans to the market as early as possible within realistic deadlines”, said Dariusz Kaśków, President of the ENERGA SA Management Board. “We are making a commitment to apply the sector’s best practices in this respect”.

The figures presented in this report are estimates and as such are subject to change. The final data will be presented in the Q3 2016 periodic report to be published on 14 November 2016. In turn, by 16 November Energa plans to announce the Group’s strategy covering the period until 2020 with an outlook until 2025.

“We will make it easier for investors to make decisions by reducing the current waiting time for quarterly results. When coupled with active market communication, this will augment investors’ ability to cover the Company more efficiently. The announcement of the Energa Group’s Strategy slated for mid-November is aligned to this commitment”, added Mariola Zmudzińska, Vice-President of the Energa SA Management Board.

Below we present tables containing estimates for Q3 2016. EBITDA is defined as operating profit/loss plus depreciation and amortization and impairment losses for non-financial non-current assets.

Financial data:

Operating data: