According to the preliminary unaudited estimates, in 2009 the PGE Capital Group's consolidated sales revenues amounted to PLN 21.6 billion, which constitutes an 11% rise in comparison to sales revenues in 2008. EBITDA rose by 38% year-to-year and reached the level of PLN 8.1 billion, while net profit attributable to equity holders in the parent company equalled PLN 3.2 billion (a 69% rise over 2008).
"These preliminary financial data indicate that we have solid foundations for further long-term development. The Group is highly profitable. "Simultaneously, it confirms that we are capable of financing a considerable part of planned investments in the construction of new generation capacities as well as the modernization of our power plants and distribution grid from our own resources," said Mr Tomasz Zadroga, Management Board President at PGE Polska Grupa Energetyczna S.A.
Estimates for selected items in the consolidated financial results of the PGE Capital Group in 2009 [PLN billion]:
| Sales revenues |
21.6 |
19.4* |
+11% |
| EBITDA |
8.1 |
5.9 |
+38% |
| Net profit |
4.2 |
2.7 |
+58% |
* Sales revenues for 2008 have been adjusted (PLN -1.2 billion) in consequence of a change in the consolidation principles consisting of a more detailed identification of transactions with the minor companies within the PGE Capital Group [data in PLN billion]:
| Total sales revenues before adjustment |
22.9 |
20.6 |
| Elimination of transactions with minor companies |
-1.4 |
-1.2 |
All presented figures are estimates which have not been audited; they may be different from data included in the annual consolidated financial statements of PGE Polska Grupa Energetyczna S.A. to be published on 16 March 2010.
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Additional information:
PGE Polska Grupa Energetyczna S.A. is the largest power engineering company in Poland and one of the largest such companies in Central and Eastern Europe. Thanks to the combination of its own fuel (lignite) resources, power generation and final distribution networks, PGE guarantees a safe and reliable power supply to 5 million households, businesses and institutions. The company's net power generation amounts to about 56 TWh, which constitutes 42% of the national electricity output. The installed capacity equals 12.4 GW.
The PGE Capital Group has operated under its current structure since 2007. The PGE Capital Group's major areas of activity comprise the mining of lignite and generation of heat and electricity from conventional sources, the wholesale trade of electricity and related products, the retail sales of electricity and heat, the distribution of electricity as well as the generation of electricity from renewable sources.
Since 6 November 2009 PGE Polska Grupa Energetyczna S.A. has been one of the largest companies listed on the Warsaw Stock Exchange.