75NN Tauron Pol 27

TIDM75NN

RNS Number : 7423E

Tauron Polska Energia S.A.

13 February 2018

13 February 2018

LEI No: 259400NAPDFBOTNCRL54

Preliminary results of TAURON Polska Energia Group for 2017 and Q4 2017

Management Board of TAURON Polska Energia S.A. ("Company") presents selected estimated consolidated financial results and operating data of TAURON Polska Energia S.A. Capital Group ("TAURON Group") for 2017 and Q4 2017.

Selected estimated financial results for 2017:

Sales revenue: PLN 17 416 m

EBITDA (operating profit increased by depreciation, amortization and write-offs related to non-financial assets): PLN 3 544 m

including:

a) Mining segment's EBITDA: PLN (83) m

b) Generation segment's EBITDA: PLN 464 m

c) Distribution segment's EBITDA: PLN 2 283 m

d) Supply segment's EBITDA: PLN 841 m

EBIT (operating profit): PLN 1 805 m

Net profit: PLN 1 388 m

CAPEX: PLN 3 474 m

Selected estimated operating data for 2017:

Commercial coal production: 6.4 m tons

Commercial coal sales: 6.8 m tons

Gross electricity production: 18.4 TWh

Heat production: 12.2 PJ

Electricity distribution: 51.4 TWh (including to final consumers: 49.1 TWh)

Retail electricity sales: 34.9 TWh

Selected estimated financial results for Q4 2017:

Sales revenue: PLN 4 545 m

EBITDA (operating profit increased by depreciation, amortization and write-offs related to non-financial assets): PLN 667 m

including:

a) Mining segment's EBITDA: PLN (41) m

b) Generation segment's EBITDA: PLN 78 m

c) Distribution segment's EBITDA: PLN 488 m

d) Supply segment's EBITDA: PLN 150 m

EBIT (operating profit): PLN 225 m

Net profit: PLN 194 m

CAPEX: PLN 1 257 m

Net debt as of 31 December 2017: PLN 8 047 m

Net debt/EBITDA as of 31 December 2017: 2.3

Selected estimated operating data for Q4 2017:

Commercial coal production: 1.8 m tons

Commercial coal sales: 1.8 m tons

Gross electricity production: 4.4 TWh

Heat production: 4.3 PJ

Electricity distribution: 13.1 TWh (including to final consumers: 12.6 TWh)

Retail electricity sales: 9.4 TWh

Significant factors impacting Q4 2017 earnings (versus Q4 2016):

a) financial revenue due to the positive FX differences on the EUR denominated debt which led to an increase of TAURON Group's gross financial result in Q4 2017 by PLN 120 m. In Q4 2016 the FX differences on the EUR denominated debt led to a decrease of TAURON Group's gross financial result by PLN 16 m (no impact on EBITDA),

   b)   raising the level of provisions, in particular: 

- setting up a provision in the amount of PLN 55 m for the payment of a one-time bonus to the workforce (including in the following segments: Mining: PLN 14 m, Generation: PLN 11 m, Distribution: PLN 23 m, Supply PLN 1 m, Other PLN 6 m),

- increasing the provision due to potential fees related to the transmission easement by PLN 26 m (Distribution segment),

- increasing the actuarial provisions due to the past service cost by PLN 17 m (Mining segment),

- increasing the provision due to a potential increase of the property tax related to grid assets by PLN 27 m (Distribution segment),

c) dissolving a part of the provision in the amount of PLN 14 m as a contribution towards potential penalties imposed by the President of the Energy Regulatory Office (Distribution segment).

The Company states that the figures presented above represent estimated values and may be subject to change. The final values will be presented in the consolidated report for 2017, scheduled to be published on March 13, 2018.

Classification of regulated information:

Article 17 of MAR - inside information

 
 Enquiries to: 
------------------------------- 
 
   TAURON Polska Energia S.A. 
   3 Ks. Piotra ciegiennego 
   Street 
   40-114 Katowice, Poland 
   Marcin Lauer - Head of 
   IR 
   tel. no. +48 32 774 27 
   06 
   Pawe Gaworzyński - 
   Chief IR Officer 
   tel. no. +48 32 774 25 
   34 
   Miros aw Szczygielski - 
   IR Officer 
   tel. no. +48 516 112 858 
   Katarzyna Heinz - IR Officer 
   tel. no. +48 32 774 25 
   38 
------------------------------- 
 

This information is provided by RNS

The company news service from the London Stock Exchange

END

DOCSFSFSDFASEIE

(END) Dow Jones Newswires

February 13, 2018 05:54 ET (10:54 GMT)

Tauron Pol 27 (LSE:75NN)
Graphique Historique de l'Action
De Fév 2025 à Mar 2025

Tauron Pol 27 (LSE:75NN)
Graphique Historique de l'Action
De Mar 2024 à Mar 2025