ENEA : posts year-on-year growth in revenues and EBITDA after Q3 2018

In Q1-Q3 2018, ENEA Group generated EBITDA of almost PLN 2 billion, with sales revenues in excess of PLN 9.3 billion. This means an increase on the corresponding period of the previous year, the preliminary results released by the Group show. ENEA also recorded an increase in the volumes of electricity and gas fuel sales to retail customers, as well as sales of distribution services to end customers, whilst the electricity generation reached over 19.9 TWh.

Between January-September 2018, according to the estimates for that period, ENEA Group posted net sales revenues of PLN 9,384 million and EBITDA of PLN 1,973 million, up by 12.2% YoY and 1.3% YoY, respectively. The Group's consolidated net profit reached PLN 620 million.

The largest contributions to EBITDA were delivered by the distribution area (PLN 872 million; up by 9.3% YoY) and by the generation area (PLN 663 million; up by 8.8% YoY). The mining area generated EBITDA of PLN 400 million and the trading area - of PLN 38 million.

In the first three quarters of 2018, ENEA Group generated more than 19.9 TWh of electricity, which meant an improvement of 31.4% on the corresponding period of 2017. Also, the sales volume of electricity and gas fuel to retail customers and grew from 14.0 TWh to 15.9 TWh (up by 13% YoY) while the volume of distribution services sold to end customers rose from 14.3 TWh to 14.9 TWh (up by 4.3% YoY). Net coal production totalled 6.82 million tonnes (up by 1.6% YoY).

- The distribution area generated a consistently stable result on the back of increasing sales volumes of its services while the results of the generation area were affected by factors such as the restricted availability of generation units due to overhauls and upgrades, including those related to their adaptation to the BAT conclusions. We are pleased with the results of the RES generation segment posted throughout 2018, which additionally benefited from higher prices of green certificates, and the restoration of production levels in the mining area is also a positive development. Only the results of the trading area have clearly remained under the pressure of cost increases of purchased energy and so-called 'colour' certificates - commented Piotr Olejniczak,Vice-President of ENEA for Financial Affairs.

The final results will be published in the extended consolidated quarterly report of ENEA Group for Q3 2018, which is scheduled to be released on 23 November 2018.