The Management Board of Polenergia S.A., a company with registered office in Warsaw (“the Issuer“), hereby publishes selected preliminary estimated consolidated financial results of the Polenergia S.A. Group. (“the Group“) for the first three months of 2025.
The adjusted EBITDA of the Group in the first three months ended 31 March 2025 amounted to PLN 161.9 million and was lower by PLN 74.4 million relative to the corresponding period of the preceding year. This was driven mainly by:
– lower result in the onshore wind farms segment (by PLN 85.1 million), as a consequence of lower electricity prices obtained by the farms and lower production due to poorer windiness compared to last year;
– lower EBITDA compared to the preceding year’s result in the segments of distribution (by PLN 1.7 million) and unallocated (by PLN 3.5 million).
The above effects were partly offset by a PLN 13.5 million increase in EBITDA in the trading and sales segment compared to the result recorded in the corresponding period of the preceding year, which is mainly due to a better result on other business in the prosumer energy area resulting from the updating of the provision for pre-financing and the adjustment of the inventory write-down, as well as a better result on trading in electricity from RES assets due to the additional profiling of sales hedging.
The Group’s EBITDA result of PLN 161.9 million in the first quarter of 2025 was composed of the results of individual segments:
In the first quarter of 2025, the adjusted net profit of the Group amounted to PLN 60.5 million, which means a slump compared to the performance in the corresponding period of the preceding year by PLN 81.4 million. The slump in adjusted net profit was mainly due to the factors affecting EBITDA described above, higher financing costs on interest on green bonds issued and financing obtained from the National Recovery Plan (KPO) to cover the equity contribution required for the Bałtyk II and Bałtyk III offshore wind farm projects, and the result on foreign exchange differences. The drop in adjusted net profit was partly offset by lower income tax.
The figures presented are estimates and are subject to change. The final consolidated results will be detailed in the Polenergia Group’s consolidated quarterly report for the first quarter of 2025, scheduled for publication on 21 May 2025.
legal basis: Article 17(1) and 17(4) of the Regulation (EU) No. 596/2014 of 16 April 2014 the European Parliament and of the Council on market abuse (market abuse regulation) and repealing Directive 2003/6/EC of the European Parliament and of the Council and Commission Directives 2003/124/EC, 2003/125/EC and 2004/72/EC (OJ 2014 No. 173, p. 1 as amended)
Issuer’s Management Board
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