Polenergia publishes preliminary financial results for Q1 2025: Group achieves nearly PLN 162 million EBITDA and PLN 60.5 Million Adjusted Net Profit

According to preliminary consolidated financial results, Polenergia, Poland's largest private energy group, recorded an EBITDA of PLN 161.9 million in the first three months of 2025, compared to PLN 236.3 million a year earlier. The group closed Q1 with an adjusted net profit of PLN 60.5 million. The results were primarily impacted by lower electricity prices achieved by wind farms and reduced wind conditions during this period. Polenergia is focusing on the development of offshore projects in line with the strategy published in late March and is finalizing preparations to make a final investment decision (FID) for the Bałtyk 2 and Bałtyk 3 projects.

The year-over-year change in results was influenced by energy market conditions in recent years. The exceptionally strong performance in January–March 2024 was driven by forward contracts signed between 2021 and 2023, during a period of unusually high energy prices due to, among other factors, disruptions related to the war in Ukraine and unexpected energy price surges.

After years of turbulence caused in part by geopolitical factors, which sent electricity prices soaring, we are now witnessing a normalization of energy prices in the forward market, returning to lower and more predictable levels. This situation was anticipated. However, what was unexpected in Q1 of this year was significantly lower wind conditions during the first three months, particularly in February, when wind energy production dropped by nearly half.

At the same time, we have seen growth in the photovoltaic segment, partly due to increased capacity from last year’s launch of the Strzelino solar farm. Soon, we will launch our largest solar farm, Szprotawa, with a total capacity of 67 MW, which will significantly boost Polenergia's installed PV capacity

Adam Purwin

CEO of Polenergia

Polenergia’s Q1 2025 EBITDA consisted of PLN 137.1 million from onshore wind farms, PLN 3.1 million from photovoltaic farms, PLN 1.7 million from the gas and clean fuels segment, PLN 21.2 million from trading and sales, and PLN 13.3 million from distribution. The unallocated segment recorded a result of -PLN 14.5 million.

At the end of Q1, Polenergia published its 2025–2030 strategy, which prioritizes the development of offshore wind farms. By 2030, the group aims to significantly increase its installed renewable energy capacity from the current ~0.6 GW to 1.5 GW*. The Group’s EBITDA, including results generated by the Bałtyk 2 and 3 farms, is expected to rise to PLN 1.6 billion.

We are focusing on the future and further development of the company, particularly our flagship offshore projects. Due to their scale and significance, the Bałtyk wind farms are a breakthrough project for our company and will significantly enhance Polenergia's value in the coming years.

Adam Purwin

CEO of Polenergia

The presented results are preliminary and may be subject to change. Final data will be detailed in Polenergia Group’s consolidated report for Q1 2025, scheduled for publication on May 21, 2025.

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Polenergia publishes preliminary financial results for Q1 2025: Group achieves nearly PLN 162 million EBITDA and PLN 60.5 Million Adjusted Net Profit

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