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MarketScreener Homepage  >  Equities  >  Warsaw Stock Exchange  >  PGE Polska Grupa Energetyczna S.A.    PGE   PLPGER000010

PGE POLSKA GRUPA ENERGETYCZNA S.A.

(PGE)
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Poland's PGE to scrap non-core business projects to cut costs

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04/09/2020 | 07:31am EDT

Poland's biggest energy group PGE has decided to close projects that are not related to its core business, aiming to improve margins and reduce costs, the company said on Thursday.

State-run PGE said that when taking the decision it took into account its near 4 billion zlotys ($958 million) net loss for 2019, the weak performance of its shares and the negative impact of the coronavirus on the economy and on power consumption.

"The management decision is related to ... the ongoing changes in the economic, social and energy business environments," it said in a statement.

The company did not say which projects it plans to scrap and was not immediately available to comment.

It said it would continue to invest in wind farms and solar energy. It also plans to complete the construction of 1.4 GW steam and gas unit at the Dolna Odra power plant.

By 2030 PGE plans to have 2.5 gigawatts (GW) installed capacity in offshore wind and 2.5 GW in solar energy.

It was not clear whether the company will continue a planned investment in a new open-pit lignite mine in Zloczew, a costly project designed to extend the life of its power plant in Belchatow, one of Europe's biggest polluters.

PGE also did not say whether it will still be involved in the construction of Poland's first nuclear power plant.

By Agnieszka Barteczko


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JUST GROUP PLC -0.91% 41.3 Delayed Quote.-47.24%
PGE POLSKA GRUPA ENERGETYCZNA S.A. -4.99% 4.496 End-of-day quote.-43.52%
THE NEW HOME COMPANY INC. 3.45% 5.4 Delayed Quote.15.88%
WILL GROUP, INC. -0.12% 808 End-of-day quote.-35.46%
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All news about PGE POLSKA GRUPA ENERGETYCZNA S.A.
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10/01CR NO 28/2020 ON 01.10.2020 10 : 13 Signing of a letter of intent regarding sale..
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09/25Poland to close coal mines by 2049 in deal with unions
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09/23CR NO 27/2020 ON 23.09.2020 15 : 35 Adoption of the consolidated text of the Com..
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Financials
Sales 2020 39 795 M 10 053 M 10 053 M
Net income 2020 603 M 152 M 152 M
Net Debt 2020 11 366 M 2 871 M 2 871 M
P/E ratio 2020 19,0x
Yield 2020 -
Capitalization 8 406 M 2 120 M 2 124 M
EV / Sales 2020 0,50x
EV / Sales 2021 0,50x
Nbr of Employees 42 000
Free-Float 42,6%
Chart PGE POLSKA GRUPA ENERGETYCZNA S.A.
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PGE Polska Grupa Energetyczna S.A. Technical Analysis Chart | MarketScreener
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Technical analysis trends PGE POLSKA GRUPA ENERGETYCZNA S.A.
Short TermMid-TermLong Term
TrendsBearishNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 8
Average target price 7,17 PLN
Last Close Price 4,50 PLN
Spread / Highest target 142%
Spread / Average Target 59,5%
Spread / Lowest Target -34,4%
EPS Revisions
Managers
NameTitle
Wojciech Dabrowski Chief Executive Officer
Anna Kowalik Chairman-Supervisory Board
Ryszard Wasilek Deputy Chief Executive Officer-Operations
Pawel Straczynski Vice President-Finance
Janina Goss Independent Member-Supervisory Board
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