TIDM75NN
RNS Number : 1781R
Tauron Polska Energia S.A.
26 February 2019
Estimated results for 2018 and Q4 2018
26 February 2019
TAURON Polska Energia S.A.
(LEI No: 259400NAPDFBOTNCRL54)
Estimated results for 2018 and Q4 2018
TAURON Polska Energia S.A. ("the Company") announces selected
estimated consolidated financial results and operating data of
TAURON Polska Energia S.A. Capital Group ("TAURON Group") for 2018
and Q4 2018.
Selected estimated financial results for:
(a) 2018
Sales revenue: PLN 18,122 million
EBITDA (operating profit increased by depreciation, amortization
and write-offs for non-financial assets): PLN 3,589 million,
including:
- Mining Segment's EBITDA: PLN (207) million
- Generation Segment's EBITDA: PLN 731 million
- Distribution Segment's EBITDA: PLN 2,517 million
- Supply Segment's EBITDA: PLN 534 million
EBIT (operating profit): PLN 1,011 million
Negative exchange rate differences: PLN (83) million
Gross profit: PLN 737 million
Net profit: PLN 395 million
CAPEX: PLN 3,672 million
(b) Q4 2018
Sales revenue: PLN 4,820 million
EBITDA (operating profit increased by depreciation, amortization
and write-offs for non-financial assets): PLN 617 million,
including:
- Mining Segment's EBITDA: PLN (113) million
- Generation Segment's EBITDA: PLN 82 million
- Distribution Segment's EBITDA: PLN 561 million
- Supply Segment's EBITDA: PLN 83 million
EBIT (operating loss): PLN (294) million
Negative exchange rate differences: PLN (20) million
Gross loss: PLN (351) million
Net loss: PLN (459) million
CAPEX: PLN 1,347 million
Net debt as of 31 December 2018: PLN 8,629 million
Net debt/EBITDA as of 31 December 2018: 2.4x
Selected estimated operating data for:
(a) 2018
Commercial coal production: 5.01 million tons
Commercial coal sales: 4.87 million tons
Gross electricity production: 16.21 TWh
Heat production: 11.29 PJ
Distribution of electricity: 51.97 TWh (including to final
consumers: 49.90 TWh)
Retail electricity sales: 34.52 TWh
(b) Q4 2018
Commercial coal production: 1.40 million tons
Commercial coal sales: 1.33 million tons
Gross electricity production: 4.30 TWh
Heat production: 3.86 PJ
Distribution of electricity: 13.13 TWh (including to final
consumers: 12.65 TWh)
Retail electricity sales: 9.15 TWh
The Company announces that Q4 2018 financial results were
materially impacted by the impairment tests related to TAURON
Group's assets conducted as of December 31, 2018. The tests
demonstrated the need to recognize in the consolidated financial
statements net write-downs related to the loss of tangible and
intangible fixed assets in the amount of PLN 467 million. The total
estimated impact on the decrease of the net consolidated financial
result is PLN 378 million.
The financial results presented above are estimates and may be
subject to change.
The Company notes that TAURON Group's estimated Q4 2018 and 2018
financial results presented in this current report do not take into
account a potential impact of the legal regulations related to
stabilizing electricity prices for the final consumers in 2019 and
of the interpretations or guidelines of the applicable public
authorities on applying such regulations by electric utilities. As
of the date of disclosing the report the Company is conducting
legal and accounting analyses related to taking the above
regulations into account in TAURON Group's financial
statements.
The final financial results will be presented in TAURON Polska
Energia S.A. Capital Group's 2018 audited consolidated financial
statements.
Legal basis: Article 17 of MAR - inside information
Enquiries to:
TAURON Polska Energia S.A.
3 Ks. Piotra ciegiennego Street
40-114 Katowice, Poland
Marcin Lauer - Head of IR
tel. no. +48 32 774 27 06
Pawe Gaworzyński - Chief IR
Officer
tel. no. +48 32 774 25 34
Miros aw Szczygielski - Chief IR
Officer
tel. no. +48 516 112 858
This information is provided by RNS, the news service of the
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of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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