Q4 results confirm accelerated growth of Energa Group

According to the estimates, Energa Group’s consolidated EBITDA grew by 2.4% in the last quarter of 2016, to PLN 502 m from PLN 490 m in the corresponding period of last year. Energa recorded a dynamic increase of its operating results. On the year on year basis, the volume of energy produced rose by 28%, sales increased by 19%, while distribution remained at nearly the same level.

In October 2016, the Management Board of the Energa Group decided to start publishing preliminary financial results in order to satisfy expectations of our investors and also to improve transparency in its financial communication. In continuation of this well-received practice, we would like to present the estimated data for Q4 and for the whole year 2016. – We are committed to informing the market about our performance and our plans as soon as possible. Especially when such information showcases our achievements that are worth sharing with both investors and customers – said Jacek Kościelniak, the acting President of the Energa SA Management Board. 

According to the preliminary estimates, Energa Group's Q4 2016 EBITDA amounted to PLN 502 m. The year on year improvement was visible in the Distribution and Generation Segments, while the Sales Segment’s result was hurt by non-recurring non-cash events.

The Distribution Segment delivered quarterly EBITDA of PLN 412 m compared to PLN 350 m one year before (up by 18%).  The Generation Segment EBITDA was PLN 122 m compared to PLN 86 m in 2015 (up by 43%) and the Sales Segment EBITDA was PLN -19 m compared to PLN 57 m in Q4 2015. The negative sales result is caused by non-recurring events of PLN -44 m related to the recognition of provisions in connection with the pending administrative and court proceedings.

According to the preliminary estimates, Energa Group’s 2016 EBITDA was PLN 2,031 m. The Distribution Segment delivered EBITDA of PLN 1,722 m while the Generation Segment posted PLN 317 m and the Sales Segment PLN 44 m.

Financial data

Operating data:

EBITDA is defined as the consolidated operating result plus amortization and depreciation and impairment losses on non-financial non-current assets. The figures presented in this report are estimates and as such are subject to change.