Estimated financial and operational data of the Energa Group for H1 and Q2 2023
Belongs to:
- Current reports
Current report No. 23/2023
Date: 18 August 2023
Subject: Estimated financial and operational data of the Energa Group for H1 and Q2 2023
Legal basis: Article 17 (1) of MAR - inside information
The Management Board of Energa SA hereby reports estimated selected financial and operational data of the Energa Group ("Group") for the first half of 2023 and for the second quarter of 2023.
Selected data for H1 2023:
Revenues of the Group: PLN 13,434 million (vs. PLN 9,517 million in H1 2022).
EBITDA of the Group: PLN 2,607 million (vs. PLN 2,018 million in H1 2022).
Operating result (EBIT) of the Group: PLN 2,022 million (vs. PLN 1,383 million in H1 2022).
Net result of the Group: PLN 1,424 million (vs. PLN 1,057 million in H1 2022).
CAPEX of the Group: PLN 1,731 million (vs. PLN 935 million in H1 2022).
Distribution of electricity: 11,264 GWh (vs. 11,879 GWh in H1 2022).
Gross production of electricity: 1,740 GWh (vs. 2,326 GWh in H1 2022).
Retail sales of electricity: 8,582 GWh (vs. 8,953 GWh in H1 2022).
In H1 2023, the Energa Group generated PLN 2,607 million in EBITDA (operating profit before amortization and impairment of non-financial non-current assets), up by 29% from the same period last year. This result was mainly influenced by (i) higher margin on distribution of electricity (with grid losses), attributable to a higher average distribution service rate as well as advantageous valuation of estimated non-invoiced grid losses in the Distribution Business Line and (ii) a partial reversal of a provision for onerous contracts created in December 2022 in the Sales Business Line.
Selected data for Q2 2023:
Revenues of the Group: PLN 6,011 million (vs. PLN 4,579 million in Q2 2022).
EBITDA of the Group: PLN 276 million (vs. PLN 941 million in Q2 2022).
Operating result (EBIT) of the Group: PLN -19 million (vs. PLN 577 million in Q2 2022).
Net result of the Group: PLN -147 million (vs. PLN 446 million in Q2 2022).
CAPEX of the Group: PLN 1,018 million (vs. PLN 619 million in Q2 2022).
Distribution of electricity: 5,436 GWh (vs. 5,668 GWh in Q2 2022).
Gross production of electricity: 731 GWh (vs. 1,048 GWh in Q2 2022).
Retail sales of electricity: 3,999 GWh (vs. 4,236 GWh in Q2 2022).
In Q2 2023, the Group's EBITDA was PLN 276 million compared to PLN 941 million in Q2 2022. The biggest impact on the decrease in EBITDA had the high difference between the price from the contract for grid losses and the price from the balancing market, according to which the valuation of estimated non-invoiced grid losses in the Distribution Business Line was made.
The data presented are estimates and are subject to review by the auditor, therefore they may change. The final financial and operational data of the Energa Group for H1 2023 and for Q2 2023 for will be presented in the consolidated financial statements of Energa Group for H1 2023.