ZE PAK SA 3Q 2022 Results
November 29, 2022
1
ZE PAK Group - 9M 2022 summary
Key operational and financial data | 9M 2022 | Change y/y | |
Sale of electricity: | 4.61 | TWh | +11.62% |
• Electricity from own production: | 2.67 | TWh | -13.59% |
• Electricity from resale: | 1.94 | TWh | +86.54% |
Achieved average electricity sale price (1) | 585.87 | PLN/MWh | +102.47% |
Average purchase price of EUA | 289.94 | PLN/MWh | +135.05% |
Sale revenues: | 3,093 | m PLN | +92.83% |
EBITDA: | 425 | m PLN | +129.48% |
Net result: | 288 | m PLN | +171.70% |
CAPEX: | 252 | m PLN | -14.58% |
Indebtedness: | 1,086 | m PLN | +160.43% |
Cash (2) | 938 | m PLN | +157.69% |
Net debt / EBITDA: | 0.31 | x | +0.05 |
- Average price, calculated as electricity sales revenues (own production, from resale and system service) divided by sales volume.
- Cash and cash equivalents and other financial short-term assets.
2
ZE PAK Group - 3Q 2022 summary
Key operational and financial data | 3Q 2022 | Change y/y | |
Sale of electricity: | 1.49 | TWh | -1.97% |
• Electricity from own production: | 0.89 | TWh | -27.64% |
• Electricity from resale: | 0.60 | TWh | +106.90% |
Achieved average electricity sale price (1) | 673.28 | PLN/MWh | +113.03% |
Average purchase price of EUA | 301.15 | PLN/MWh | +110.29% |
Sale revenues: | 1,137 | m PLN | +83.68% |
EBITDA: | 227 | m PLN | +121.81% |
Net result: | 136 | m PLN | +58.14% |
CAPEX: | 92 | m PLN | +12.20% |
3
ZE PAK Group - 3Q 2022 summary
REVENUES | EBITDA | NET RESULT | ||
1100 | |
92 | |
511 | 564 |
81 | |
85 | |
497 | 398 |
3Q 2022 | 3Q 2021 |
Other
Electricity from resale
Own electricity production
227 | |
10 | |
217 | 102 |
34 | |
68 | |
3Q 2022 | 3Q 2021 |
Depreciation | EBIT |
136
86
3Q 2022 | 3Q 2021 |
The increase in revenues in Q3 2022 compared to Q3 2021 is mainly due to the higher electricity sales price achieved. The volume of electricity sold also increased, however, it was the result of higher sales of electricity from trade, the volume of electricity from own production decreased in Q3 2022 by nearly 28%.
The higher result at the level of EBITDA and net profit is due to a much better ratio of electricity sales prices to purchase prices of carbon dioxide emission allowances than in Q3 2021.
In the period of Q3 2022, there was a decrease in revenues obtained from the main sources of support (LTC and the capacity market) compared to Q3 2021, in the amount
of PLN 28 million. | 4 |
SELECTED ELECTRICITY MARKET DATA
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Zespól Elektrowni Patnów-Adamów-Konin SA published this content on 05 January 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 05 January 2023 11:17:07 UTC.
