In Q1 2017, Enea Group pursued key initiatives that increased the Group's competitiveness and sustainable development. Projects progressed on modernizing generation units, installing emission reduction technologies, developing the mining operations, and improving the grid and customer service. Financially, the Group delivered solid results with overall EBITDA decreasing slightly despite lower energy prices, while mining operations increased coal sales volume and profit.
Enea CG reported strong financial results in H1 2017. Key highlights include:
- Net sales revenue of PLN 5.6 billion, EBITDA of PLN 1.36 billion, and net profit of PLN 624 million.
- EBITDA growth of 12.6% year-over-year driven by increased generation capacity from the acquisition of Połaniec Power Plant and higher sales volumes and revenues from mining, distribution, and trade.
- Mining segment EBITDA grew 13.6% due to higher coal sales volumes and lower unit production costs. Generation segment EBITDA grew 28.9% mainly from the addition of Połaniec Power Plant.
Enea CG's financial results in Q1-Q3 2017:
- Net sales revenue increased 1.1% to PLN 8.4 billion while EBITDA grew 6.5% to PLN 1.9 billion.
- Generation segment EBITDA increased 31.1% to PLN 609.6 million due to the acquisition of Połaniec Power Plant.
- Distribution segment EBITDA rose 3.2% to PLN 451.1 million from higher revenue from distribution services.
- Trade segment EBITDA fell 7% to PLN 797.8 million as average energy selling prices declined despite higher sales volumes.
The document summarizes Enea CG's financial and operational results for Q1 2016. Key points include:
- Sales volumes and revenue grew compared to Q1 2015 across most business areas.
- EBITDA increased 31.3% to PLN 668.3 million due to growth in distribution, generation, and mining.
- LW Bogdanka mining volumes complied with production plans and were higher than Q1 2015. EBITDA grew 20% despite a coal price drop.
- Cost optimization initiatives resulted in PLN 86 million in savings in Q1 2016, focusing on business process efficiency and outsourcing rationalization.
Snam provides a full-year 2017 results and plan update document. Key highlights include strong delivery in 2017 with results above guidance, improved 2021 targets, and an increasingly supportive gas scenario. Snam also improved its long-term visibility of its core business by increasing its organic capex plan by €500 million to 2017-2021 and enhancing its efficiency plan to achieve over €40 million in savings by 2021.
Presentation of Vattenfall's full year 2015 resultsVattenfall
Vattenfall reported financial results for full year 2015. Key highlights included a portfolio transformation through divestments of fossil fuel plants in Denmark and a lignite divestment process in Germany. Generation increased from renewables like wind power. However, low electricity prices and new regulatory requirements led to impairments of SEK 36.8 billion. Underlying EBIT declined to SEK 20.5 billion from SEK 24.1 billion in 2014 due to continued pressure on conventional power generation from lower commodity prices. The board proposed no dividend for 2015.
1. Vattenfall reported increased net sales and profits for the first nine months of 2021 compared to the same period in 2020. Net sales increased by 1.8 billion SEK to 116,590 million SEK and profit for the period increased to 41,912 million SEK from 1,989 million SEK.
2. Higher electricity prices in Europe, particularly in the Nordic countries and Germany, contributed to increased earnings in power generation, though lower prices were achieved in the Nordic countries due to hedging. Sales volumes also increased in the Nordic countries and Germany.
3. Significant one-off effects positively impacted profits, including compensation for nuclear power closures in Germany, unrealised
Enea CG reported strong financial results in H1 2017. Key highlights include:
- Net sales revenue of PLN 5.6 billion, EBITDA of PLN 1.36 billion, and net profit of PLN 624 million.
- EBITDA growth of 12.6% year-over-year driven by increased generation capacity from the acquisition of Połaniec Power Plant and higher sales volumes and revenues from mining, distribution, and trade.
- Mining segment EBITDA grew 13.6% due to higher coal sales volumes and lower unit production costs. Generation segment EBITDA grew 28.9% mainly from the addition of Połaniec Power Plant.
Enea CG's financial results in Q1-Q3 2017:
- Net sales revenue increased 1.1% to PLN 8.4 billion while EBITDA grew 6.5% to PLN 1.9 billion.
- Generation segment EBITDA increased 31.1% to PLN 609.6 million due to the acquisition of Połaniec Power Plant.
- Distribution segment EBITDA rose 3.2% to PLN 451.1 million from higher revenue from distribution services.
- Trade segment EBITDA fell 7% to PLN 797.8 million as average energy selling prices declined despite higher sales volumes.
The document summarizes Enea CG's financial and operational results for Q1 2016. Key points include:
- Sales volumes and revenue grew compared to Q1 2015 across most business areas.
- EBITDA increased 31.3% to PLN 668.3 million due to growth in distribution, generation, and mining.
- LW Bogdanka mining volumes complied with production plans and were higher than Q1 2015. EBITDA grew 20% despite a coal price drop.
- Cost optimization initiatives resulted in PLN 86 million in savings in Q1 2016, focusing on business process efficiency and outsourcing rationalization.
Snam provides a full-year 2017 results and plan update document. Key highlights include strong delivery in 2017 with results above guidance, improved 2021 targets, and an increasingly supportive gas scenario. Snam also improved its long-term visibility of its core business by increasing its organic capex plan by €500 million to 2017-2021 and enhancing its efficiency plan to achieve over €40 million in savings by 2021.
Presentation of Vattenfall's full year 2015 resultsVattenfall
Vattenfall reported financial results for full year 2015. Key highlights included a portfolio transformation through divestments of fossil fuel plants in Denmark and a lignite divestment process in Germany. Generation increased from renewables like wind power. However, low electricity prices and new regulatory requirements led to impairments of SEK 36.8 billion. Underlying EBIT declined to SEK 20.5 billion from SEK 24.1 billion in 2014 due to continued pressure on conventional power generation from lower commodity prices. The board proposed no dividend for 2015.
1. Vattenfall reported increased net sales and profits for the first nine months of 2021 compared to the same period in 2020. Net sales increased by 1.8 billion SEK to 116,590 million SEK and profit for the period increased to 41,912 million SEK from 1,989 million SEK.
2. Higher electricity prices in Europe, particularly in the Nordic countries and Germany, contributed to increased earnings in power generation, though lower prices were achieved in the Nordic countries due to hedging. Sales volumes also increased in the Nordic countries and Germany.
3. Significant one-off effects positively impacted profits, including compensation for nuclear power closures in Germany, unrealised
Enea CG's financial results were affected by a one-time settlement in Q3 2015. In Q1-Q3 2016:
- EBITDA increased 13.9% to PLN 1,828.6 million, mainly due to higher results in distribution and generation.
- Revenue grew 16.1% to PLN 8,303.9 million driven by sales growth in mining, distribution and trade.
- Net profit declined 14% to PLN 720.7 million as the prior year included a one-time revenue item.
Vattenfall’s interim report for third quarter 2015 (January-September): Lower costs and increased production.
Vattenfall’s third quarter earnings improved as a result of lower costs and increased production. Market conditions remain challenging, however, especially in the Nordics. New savings and efficiency measures are needed to further reduce costs, at the same time that Vattenfall is in the midst of a transformation to new long-term market conditions.
- The interim report provides financial and operational results for Vattenfall for Q3 and the first nine months of 2016, as well as targets and target achievement.
- For the first nine months, underlying operating profit was SEK 14.6 billion for continuing operations. However, profit after tax was negatively impacted by impairment losses.
- Electricity generation was 127.3 TWh for the first nine months, with 86.4 TWh from continuing operations.
- Several targets related to profitability, capital structure, and sustainability were not fully achieved according to the report. The sale of the German lignite operations was an important step in adapting Vattenfall's portfolio.
Vattenfall's quarterly report January - March 2016Vattenfall
- Vattenfall reported an underlying operating profit of SEK 8.1 billion for Q1 2016, up SEK 0.4 billion from Q1 2015, driven by higher hydro power output and nuclear plant availability.
- The CEO commented that commodity prices continue to decline, pressuring profitability, and the sale of their lignite business was an important step in adapting their portfolio.
- Key financial figures for Q1 2016 included net sales of SEK 45.9 billion and electricity generation of 48.7 TWh.
Vattenfall's year-end report summarizes its financial and operational results for 2015. Key points include:
- Net sales were SEK 164.5 billion, while underlying operating profit was SEK 20.5 billion. However, operating profit was negatively impacted by SEK 43.5 billion in impairment losses, resulting in an overall operating loss.
- Profit after tax was a loss of SEK -19.8 billion due to the impairment losses. No dividend will be paid.
- Electricity generation was 173.4 TWh, with fossil fuels making up 49% of generation and nuclear power 24%.
- Financial targets for return on capital employed and debt ratios were not met due to lower profits
Vattenfall interim report for January-June 2016:
- Net sales were SEK 80.4 billion and underlying operating profit was SEK 11 billion for continuing operations.
- A SEK 21.5 billion negative effect from the sale of Vattenfall's lignite operations in Germany.
- Total impairment losses were SEK 30 billion resulting in an after tax loss of SEK 22 billion.
- Electricity generation from continuing operations was 88.7 TWh, with hydro at 19.3 TWh and nuclear at 23.9 TWh.
This document is a year-end report from Vattenfall, a Swedish energy company, summarizing its financial and operational results for 2021. Key highlights include net sales increasing 13% to SEK 180 billion, underlying operating profit increasing 21% to SEK 31 billion, and profit for the period increasing 524% to SEK 48 billion. Earnings were positively impacted by compensation for closing German nuclear plants and selling distribution operations in Berlin. Electricity generation decreased 1% while sales of electricity, heat and gas increased. The report also discusses volatility in European energy markets in 2021 and Vattenfall's strategic progress in expanding renewable energy.
Vattenfall reported strong financial results for the first half of 2021, with net sales increasing 1% to SEK 80.5 billion and underlying operating profit increasing 34% to SEK 17.3 billion. Electricity generation increased 1.7 TWh to 58.8 TWh due to higher nuclear and hydro power generation. Profit for the period was SEK 23.6 billion, compared to a loss of SEK 1.6 billion in the first half of 2020. The CEO commented that partnerships will be important to achieving the company's goal of enabling fossil-free living within a generation and highlighted a new partnership to sell part of an offshore wind farm project.
Snam provides a summary of its first quarter 2020 consolidated results and 2020 outlook. Key points include:
- Operations were not interrupted during the quarter despite COVID-19 security protocols. Remote work was enabled for over 2000 employees.
- Capex recovery is underway with additional resources and schedule adjustments to reduce delays from €200m to under €100m.
- Financial impact of COVID-19 is expected to be limited, with mitigation measures offsetting extra costs and temporary slowdowns.
- No changes to dividend policy. Rethinking work practices focused on remote training and paperless processes. Community support initiatives increased.
The Hera Group Board of Directors approved the consolidated financial results for the first three quarters of 2018, which showed increases in key financial indicators. Revenues increased 8% to €4.3 billion, EBITDA grew 3.3% to €748.6 million, and net profits for shareholders rose 14.1% to €208.7 million. All business areas contributed positively to growth, with particular contributions from gas and waste management. Operating investments totaled €296.6 million, in line with business plan targets.
Half-year report January-June 2015 for VattenfallVattenfall
- Vattenfall reported lower net sales and operating profits for both Q2 2015 and the first half of 2015 compared to the same periods in 2014, due to lower electricity prices. Operating profit was further negatively impacted by large impairment losses and higher provisions.
- Total electricity generation decreased in the first half of 2015 due to lower availability at nuclear power plants, while wind power generation increased.
- The CEO commented on the challenges posed by low electricity prices and the resulting impairment losses, as well as on Vattenfall's strategic transformation toward greater customer focus and renewable energy generation.
- Financial targets for return on capital employed and net debt/equity were not met due to the impairment losses, while the target for FFO/
Vattenfall’s Q2 and half-year results 2018Vattenfall
- Vattenfall reported a stable financial result for the first half of 2018, with a profit of SEK 7.1 billion, up SEK 1.2 billion from the previous year.
- Net sales increased 10% to SEK 76.3 billion, driven by higher electricity sales volumes and prices in several European markets.
- Underlying operating profit was stable at SEK 13.1 billion despite difficult market conditions for heat generation due to higher fuel and CO2 costs.
- Electricity generation increased 1.7 TWh to 66.6 TWh due to higher hydro power output, offsetting lower fossil fuel generation.
Olav Johan Botnen - Long Term Analysis for the German Power MarketInnovation Norway
This document provides a summary of a presentation on long term analysis of the German power market. It discusses Germany's energy transition ("Energiewende") targets including increasing renewable energy and reducing emissions. It outlines expected developments like increased offshore wind power and new coal plants coming online. It also presents forecasts for electricity consumption, prices, and the power balance through 2035 under different scenarios. The presentation aims to analyze the impacts of Germany's energy policies on its power market in the coming decades.
The document discusses ENEA CG's performance in Q2 and H1 2014. It provides an overview of key projects implemented, including the purchase of shares in MPEC Sp. z o.o., negotiations to purchase shares of ECO S.A., and 35% progress on construction of a new 1,075MW power unit. Financial results for the periods showed increased electricity production, higher revenues and profits year-over-year, and improved EBITDA margins.
Q1 financial results were positive, with revenues growing 7.1% to €1,383.3 million. EBITDA increased 1.1% to €277.2 million, driven by organic growth and M&A activity. Net profit rose 4.1% to €86.6 million. The results demonstrated the resilience of Hera's balanced portfolio mix, with recovery in gas sales volumes and expansion in the electricity business offsetting impacts from planned plant maintenance. Cash flow generation reduced net debt and strengthened the company's strong financial position.
Snam has outlined its 2030 vision and 2021-2025 strategic plan to become a global leader in hydrogen transport networks, green energy projects, and energy storage. The company aims to invest €12 billion over the next decade to expand its multi-molecule infrastructure networks for transporting natural gas, biomethane, hydrogen, and carbon dioxide. Snam also plans to develop integrated green energy projects and grow its energy storage business to become a leading provider of multi-molecule storage and flexibility services in Europe. These investments are expected to support continued growth of Snam's regulated asset base and deliver high single-digit returns.
Vattenfall's first quarter 2020: Interim report January-March
Vattenfall's interim report shows stable earnings despite a clear impact from a markedly deteriorating market situation.
Read more at https://bit.ly/2VNti96
Linking TIAM and KLEM: Economic Impacts of WB2D mitigation pathwaysIEA-ETSAP
This document discusses linking the TIAM energy systems model with the KLEM multi-sector economic model to better represent socioeconomic dynamics in long-term energy-economy modeling. It provides an overview of the soft-link method being developed where TIAM prescribes energy uses and investment which then drive macroeconomic outputs in KLEM through factor markets. Preliminary results are shown highlighting differences between the existing TIAM macroeconomic baseline and the updated OECD SSP2 driver data.
Gruppo Hera reported a 0.4% increase in EBITDA and a 5.3% increase in net profit for Q1 2016 despite a 5.4% decrease in revenues. Organic growth and cost efficiency measures offset 75% of the impact of lower regulated returns. Increased volumes in special waste and expansion in energy markets contributed to growth, while revenues were affected by lower energy sales and network tariffs. Strong cash flow and working capital management helped reduce net debt.
Investor presentation of financial results and operational data of Enea Capital Group in H1 2016. Discussion of financial results and major events in H1 2016.
1) Coal, energy market, key operating and sales data
2) Enea CG's financial results in Q2 and H1 2016
3) LW Bogdanka CG's financial results in Q2 and H1 2016
4) Enea CG's key initiatives in H1 2016
The document provides an overview of Enea Group's financial and operational results for Q4 2016 and full year 2016. Some key points:
- In 2016, Enea Group generated over PLN 11 billion in revenue and PLN 1.1 billion in EBIT. Net profit was PLN 849 million.
- By segment, distribution contributed the most to EBITDA at 47.7% of the total. Mining and generation each contributed around 25% and 22% respectively.
- Operational highlights included a 6.8% increase in coal production and a 5.6% increase in electricity sales. Financial results improved compared to 2015.
- The strategy implementation and key initiatives in 2016
Enea CG's financial results were affected by a one-time settlement in Q3 2015. In Q1-Q3 2016:
- EBITDA increased 13.9% to PLN 1,828.6 million, mainly due to higher results in distribution and generation.
- Revenue grew 16.1% to PLN 8,303.9 million driven by sales growth in mining, distribution and trade.
- Net profit declined 14% to PLN 720.7 million as the prior year included a one-time revenue item.
Vattenfall’s interim report for third quarter 2015 (January-September): Lower costs and increased production.
Vattenfall’s third quarter earnings improved as a result of lower costs and increased production. Market conditions remain challenging, however, especially in the Nordics. New savings and efficiency measures are needed to further reduce costs, at the same time that Vattenfall is in the midst of a transformation to new long-term market conditions.
- The interim report provides financial and operational results for Vattenfall for Q3 and the first nine months of 2016, as well as targets and target achievement.
- For the first nine months, underlying operating profit was SEK 14.6 billion for continuing operations. However, profit after tax was negatively impacted by impairment losses.
- Electricity generation was 127.3 TWh for the first nine months, with 86.4 TWh from continuing operations.
- Several targets related to profitability, capital structure, and sustainability were not fully achieved according to the report. The sale of the German lignite operations was an important step in adapting Vattenfall's portfolio.
Vattenfall's quarterly report January - March 2016Vattenfall
- Vattenfall reported an underlying operating profit of SEK 8.1 billion for Q1 2016, up SEK 0.4 billion from Q1 2015, driven by higher hydro power output and nuclear plant availability.
- The CEO commented that commodity prices continue to decline, pressuring profitability, and the sale of their lignite business was an important step in adapting their portfolio.
- Key financial figures for Q1 2016 included net sales of SEK 45.9 billion and electricity generation of 48.7 TWh.
Vattenfall's year-end report summarizes its financial and operational results for 2015. Key points include:
- Net sales were SEK 164.5 billion, while underlying operating profit was SEK 20.5 billion. However, operating profit was negatively impacted by SEK 43.5 billion in impairment losses, resulting in an overall operating loss.
- Profit after tax was a loss of SEK -19.8 billion due to the impairment losses. No dividend will be paid.
- Electricity generation was 173.4 TWh, with fossil fuels making up 49% of generation and nuclear power 24%.
- Financial targets for return on capital employed and debt ratios were not met due to lower profits
Vattenfall interim report for January-June 2016:
- Net sales were SEK 80.4 billion and underlying operating profit was SEK 11 billion for continuing operations.
- A SEK 21.5 billion negative effect from the sale of Vattenfall's lignite operations in Germany.
- Total impairment losses were SEK 30 billion resulting in an after tax loss of SEK 22 billion.
- Electricity generation from continuing operations was 88.7 TWh, with hydro at 19.3 TWh and nuclear at 23.9 TWh.
This document is a year-end report from Vattenfall, a Swedish energy company, summarizing its financial and operational results for 2021. Key highlights include net sales increasing 13% to SEK 180 billion, underlying operating profit increasing 21% to SEK 31 billion, and profit for the period increasing 524% to SEK 48 billion. Earnings were positively impacted by compensation for closing German nuclear plants and selling distribution operations in Berlin. Electricity generation decreased 1% while sales of electricity, heat and gas increased. The report also discusses volatility in European energy markets in 2021 and Vattenfall's strategic progress in expanding renewable energy.
Vattenfall reported strong financial results for the first half of 2021, with net sales increasing 1% to SEK 80.5 billion and underlying operating profit increasing 34% to SEK 17.3 billion. Electricity generation increased 1.7 TWh to 58.8 TWh due to higher nuclear and hydro power generation. Profit for the period was SEK 23.6 billion, compared to a loss of SEK 1.6 billion in the first half of 2020. The CEO commented that partnerships will be important to achieving the company's goal of enabling fossil-free living within a generation and highlighted a new partnership to sell part of an offshore wind farm project.
Snam provides a summary of its first quarter 2020 consolidated results and 2020 outlook. Key points include:
- Operations were not interrupted during the quarter despite COVID-19 security protocols. Remote work was enabled for over 2000 employees.
- Capex recovery is underway with additional resources and schedule adjustments to reduce delays from €200m to under €100m.
- Financial impact of COVID-19 is expected to be limited, with mitigation measures offsetting extra costs and temporary slowdowns.
- No changes to dividend policy. Rethinking work practices focused on remote training and paperless processes. Community support initiatives increased.
The Hera Group Board of Directors approved the consolidated financial results for the first three quarters of 2018, which showed increases in key financial indicators. Revenues increased 8% to €4.3 billion, EBITDA grew 3.3% to €748.6 million, and net profits for shareholders rose 14.1% to €208.7 million. All business areas contributed positively to growth, with particular contributions from gas and waste management. Operating investments totaled €296.6 million, in line with business plan targets.
Half-year report January-June 2015 for VattenfallVattenfall
- Vattenfall reported lower net sales and operating profits for both Q2 2015 and the first half of 2015 compared to the same periods in 2014, due to lower electricity prices. Operating profit was further negatively impacted by large impairment losses and higher provisions.
- Total electricity generation decreased in the first half of 2015 due to lower availability at nuclear power plants, while wind power generation increased.
- The CEO commented on the challenges posed by low electricity prices and the resulting impairment losses, as well as on Vattenfall's strategic transformation toward greater customer focus and renewable energy generation.
- Financial targets for return on capital employed and net debt/equity were not met due to the impairment losses, while the target for FFO/
Vattenfall’s Q2 and half-year results 2018Vattenfall
- Vattenfall reported a stable financial result for the first half of 2018, with a profit of SEK 7.1 billion, up SEK 1.2 billion from the previous year.
- Net sales increased 10% to SEK 76.3 billion, driven by higher electricity sales volumes and prices in several European markets.
- Underlying operating profit was stable at SEK 13.1 billion despite difficult market conditions for heat generation due to higher fuel and CO2 costs.
- Electricity generation increased 1.7 TWh to 66.6 TWh due to higher hydro power output, offsetting lower fossil fuel generation.
Olav Johan Botnen - Long Term Analysis for the German Power MarketInnovation Norway
This document provides a summary of a presentation on long term analysis of the German power market. It discusses Germany's energy transition ("Energiewende") targets including increasing renewable energy and reducing emissions. It outlines expected developments like increased offshore wind power and new coal plants coming online. It also presents forecasts for electricity consumption, prices, and the power balance through 2035 under different scenarios. The presentation aims to analyze the impacts of Germany's energy policies on its power market in the coming decades.
The document discusses ENEA CG's performance in Q2 and H1 2014. It provides an overview of key projects implemented, including the purchase of shares in MPEC Sp. z o.o., negotiations to purchase shares of ECO S.A., and 35% progress on construction of a new 1,075MW power unit. Financial results for the periods showed increased electricity production, higher revenues and profits year-over-year, and improved EBITDA margins.
Q1 financial results were positive, with revenues growing 7.1% to €1,383.3 million. EBITDA increased 1.1% to €277.2 million, driven by organic growth and M&A activity. Net profit rose 4.1% to €86.6 million. The results demonstrated the resilience of Hera's balanced portfolio mix, with recovery in gas sales volumes and expansion in the electricity business offsetting impacts from planned plant maintenance. Cash flow generation reduced net debt and strengthened the company's strong financial position.
Snam has outlined its 2030 vision and 2021-2025 strategic plan to become a global leader in hydrogen transport networks, green energy projects, and energy storage. The company aims to invest €12 billion over the next decade to expand its multi-molecule infrastructure networks for transporting natural gas, biomethane, hydrogen, and carbon dioxide. Snam also plans to develop integrated green energy projects and grow its energy storage business to become a leading provider of multi-molecule storage and flexibility services in Europe. These investments are expected to support continued growth of Snam's regulated asset base and deliver high single-digit returns.
Vattenfall's first quarter 2020: Interim report January-March
Vattenfall's interim report shows stable earnings despite a clear impact from a markedly deteriorating market situation.
Read more at https://bit.ly/2VNti96
Linking TIAM and KLEM: Economic Impacts of WB2D mitigation pathwaysIEA-ETSAP
This document discusses linking the TIAM energy systems model with the KLEM multi-sector economic model to better represent socioeconomic dynamics in long-term energy-economy modeling. It provides an overview of the soft-link method being developed where TIAM prescribes energy uses and investment which then drive macroeconomic outputs in KLEM through factor markets. Preliminary results are shown highlighting differences between the existing TIAM macroeconomic baseline and the updated OECD SSP2 driver data.
Gruppo Hera reported a 0.4% increase in EBITDA and a 5.3% increase in net profit for Q1 2016 despite a 5.4% decrease in revenues. Organic growth and cost efficiency measures offset 75% of the impact of lower regulated returns. Increased volumes in special waste and expansion in energy markets contributed to growth, while revenues were affected by lower energy sales and network tariffs. Strong cash flow and working capital management helped reduce net debt.
Investor presentation of financial results and operational data of Enea Capital Group in H1 2016. Discussion of financial results and major events in H1 2016.
1) Coal, energy market, key operating and sales data
2) Enea CG's financial results in Q2 and H1 2016
3) LW Bogdanka CG's financial results in Q2 and H1 2016
4) Enea CG's key initiatives in H1 2016
The document provides an overview of Enea Group's financial and operational results for Q4 2016 and full year 2016. Some key points:
- In 2016, Enea Group generated over PLN 11 billion in revenue and PLN 1.1 billion in EBIT. Net profit was PLN 849 million.
- By segment, distribution contributed the most to EBITDA at 47.7% of the total. Mining and generation each contributed around 25% and 22% respectively.
- Operational highlights included a 6.8% increase in coal production and a 5.6% increase in electricity sales. Financial results improved compared to 2015.
- The strategy implementation and key initiatives in 2016
Investor presentation of financial results and operational data of Enea Capital Group in 2015. Discussion of financial results and major events in 2015.
1) Energy and fuel market and key operating data
2) Enea CG's financial results in Q4 2015 and 2015
3) LW Bogdanka CG's financial results in Q4 2015 and 2015
4) Balanced and long-term development of Enea CG
Investor presentation of financial results and operational data of Enea Capital Group in H1 2015. Discussion of financial results and major events in 2015.
Investor presentation of financial results and operational data of Enea Capital Group in Q3 2015. Discussion of financial results and major events in 2015.
1) Energy market and key operating data
2) Enea CG's financial results in Q3 and Q1-Q3 2015
3) Update of Strategy for 2015-2020
4) New unit in Kozienice Power Plant
5) Acqusition of LW Bogdanka
HeidelbergCement: Interim Financial Report January to March 2017HeidelbergCement
The document provides an overview and key figures for HeidelbergCement's 2017 first quarter results. Some of the key points included:
- Cement and aggregates volumes were above the prior year levels based on proforma figures, though operating EBITDA was slightly down 2% due to cost inflation and weather impacts.
- The integration of Italcementi is progressing on track, with improvements clearly visible in results. Synergies are ahead of targets.
- Results were solid across most regions despite strong prior year comparisons and cost inflation, though some emerging markets faced pressure.
- The outlook for energy costs improved due to declining commodity prices, and a solid demand outlook is expected in key
HeidelbergCement reports results for the third quarter of 2017 HeidelbergCement
This document provides an overview and key figures from HeidelbergCement's 2017 third quarter results presentation. Some key points:
- Organic growth turned positive in Q3 2017, with like-for-like EBITDA increasing 7% and the Group margin reaching 23%.
- Synergy targets from the Italcementi acquisition were significantly over-achieved.
- EPS increased 38% to €2.42, driven by improved net financial results and stable costs.
- Group share of profit increased 42% to €481 million in Q3 2017.
- Free cash flow generation of €1.2 billion over the last 12 months brought net debt down to €9.6
The document provides an overview and key figures for HeidelbergCement's 2018 half year results. Some of the key points included:
- Revenue increased 9% on a like-for-like basis, with operating EBITDA up 3% and operating income up 5% for the first half of 2018 compared to the same period in 2017.
- Net debt was reduced by €170 million compared to the prior year, totaling €9,970 million at the end of the second quarter of 2018.
- Volume growth was reported across all business lines, with cement volumes up 3% and aggregate volumes up 2% on a like-for-like basis.
- The outlook for 2018 was confirmed, with
Enea Group reported improved financial results in Q1 2015 compared to the same period last year. Net sales revenue increased 3.1% to PLN 2,446.4 million while EBITDA grew 9.6% to PLN 509.1 million. The Group continues to invest heavily, with CAPEX in Q1 2015 up 86% year-over-year to PLN 597 million. Enea is also introducing new products and services for customers and standardizing its brand under the Enea name.
ENEA CG builds its position through the implementation of area strategies. In Q1 2014, ENEA CG increased total energy generation while its financial results were affected by lower average selling prices. ENEA CG is executing area strategies in distribution, generation, trading, sales and shared services to strengthen its position and grow shareholder value. A key project is the ongoing construction of a new power unit in Kozienice, which is on schedule.
Vattenfall reported financial results for 2017, with key highlights including:
- Net sales decreased 3% to SEK 135 billion, while underlying operating profit increased to SEK 23 billion.
- Profit for the year was SEK 9.6 billion compared to a loss in 2016.
- Electricity generation increased by 8 TWh to 127 TWh due to higher availability and new wind farms.
- The CEO commented that Vattenfall is now a stronger, more profitable company focused on sustainability and cost control.
The document discusses ENEA CG's results for Q3 and Q1-Q3 2014 and provides an overview of the energy market and ENEA's new corporate governance structure. Some key points:
- ENEA CG reported an 11% increase in energy production for Q3 2014 and a 5.2% rise for Q1-Q3 2014 compared to the same periods in 2013. Financial results exceeded market consensus with a 2.2% net profit rise for Q3 and 26.4% increase for Q1-Q3.
- A new corporate governance structure treats ENEA CG as a homogeneous economic entity, standardizing interests and shortening decision-making. This is expected to increase
Financial results for H1 2017
Revenues for H1 2017 were PLN 1,781 million, up 5.2% year-on-year. Adjusted EBITDA was PLN 379 million, down 12.8% year-on-year due to planned production downtime and higher energy costs. The soda segment achieved revenues of PLN 619 million, down 3.9% year-on-year. The organic segment saw revenues rise 11.9% to PLN 226 million due to higher crop protection chemical sales. CIECH is continuing key investments in sodium bicarbonate production in Germany, expanding its salt product portfolio in Poland, and environmental protection investments.
ENEA Group has implemented a modern management model with a new corporate governance structure and efficiency programs to strengthen its competitive position in the challenging energy market. Key changes include centralizing customer service, optimizing processes and costs, restructuring non-core businesses, and automating systems. These reforms have helped ENEA Group improve its financial results and maintain a strong financial position while executing an ambitious capital investment program.
HeidelbergCement reported its 2018 full year results, with revenues reaching a record high of 18 billion euros. Volume increased in all business lines, and price increases were achieved in almost all markets. EBITDA was stable despite significant cost inflation and weather impacts. EPS increased 25% to 5.76 euros, driven mainly by strong performance below EBITDA. Net debt was reduced further despite higher growth capex. Portfolio optimization efforts led to close to 600 million euros in disposals in 2018. Solid EBITDA growth and further net debt reduction are expected in 2019.
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Vattenfall reported financial results for the first half of 2017, with key highlights including:
- Net sales decreased 3% to SEK 69.4 billion, while underlying operating profit increased to SEK 13.2 billion.
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3) Wyniki finansowe GK LW Bogdanka w IIQ i IH 2016
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2) Wyniki finansowe GK Enea w IVQ 2015 i 2015
3) Wyniki finansowe GK LW Bogdanka w IVQ 2015 i 2015
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Omówienie wyników finansowych i najważniejszych wydarzeń w 2015 r.
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1. Consistent implementation of the goals set in the strategy
strengthens the Group’s market position
25 May 2017
Q1 2017
2. 2
Our priority is the Group’s sustainable development in all the links
of the value chain
Financial data
Q1 2017
• PLN 2 710 mln net sales
revenue
• PLN 666 mln EBITDA
• PLN 321 mln net profit
• PLN 1 841 mln CAPEX
Operating data
Q1 2017
• PLN 2 422 thou. tonnes
coal net production
• PLN 3 756 GWh
electricity generation
• 4 975 GWh sales
of distribution services
to end users
• 5 023 GWh sales
of electricity and gas
to retail users
Key
investments
Q1 2017
• 98% progress in
the construction of a new unit
in Kozienice Power Plant 1)
• Acquisition of
Połaniec Power Plant
• Capital interest in
Polska Grupa Górnicza
• Taking up shares in
Polimex-Mostostal
Safety and stable development of an innovative commodity and energy group
1) State as at May 2017
3. RESOURCES
3
We are increasing the efficiency and value for Shareholders
GOALS
UNTIL 2025
FINANCE
Q1 2017
5.2 GW
installed
electric power
3
mining
fields
15.7 thou.
Employees
121.3 thou. km
of distribution lines
including connections
2.5 mln
Customers
PLN 2 710 mln
net sales revenue
PLN 666 mln
EBITDA
PLN 321 mln
net profit
PLN 1 841 mln
CAPEX
10.9 mln t
own demand
for bituminous
coal
144 min/1.69
SAIDI/SAIFI
20.1 TWh
electricity
sales
5.8-6.3 GW
installed
conventional
electrical power
PLN 26.4 bln
basic investment
budget
4. 4
Agenda
Enea CG's financial results in Q1 2017
Key initiatives in Q1 2017
LW Bogdanka CG's financial results
in Q1 2017
Coal, energy markets, operating data
5. 30
40
50
60
70
80
90
100
110
I II III IV V VI VII VIII IX X XI XII I II III IV V VI VII VIII IX X XI XII I II III
2015 2016 2017
USD/t
Monthly indices of coal prices
Richards Bay (RPA) Newcastle (Australia)
Amsterdam-Rotterdam-Antwerpia (Europa Zach.) Nowy Orlean (USA)
8,4
8,8
9,2
9,6
10,0
10,4
I II III IV V VI VII VIII IX X XI XII I II III IV V VI VII VIII IX X XI XII I II III
2015 2016 2017
zł/GJ
Coal dust prices
Energetyka zawodowa - miały Indeks PSCMI - miały
Average price in Q1 2017
of coal dust for
commercial power industry
dropped by ca. 0.2% yoy, and in
relation to Q4 2016 it grew by 2%
Q1 2017 characterised with decreasing coal prices on global markets
Coal, energy market, operating data 5
Average prices in Q1 2017
• Amsterdam - Rotterdam
- Antwerp: 81.65 USD/t
• Richards Bay: 83.47 USD/t
• Newcastle: 81.54 USD/t
• New Orleans: 76.10 USD/t
(West Europe)
Commercial power industry – fuel dusts Index PSCMI – fuel dusts
(RSA)
6. 130
140
150
160
170
180
190
200
210
I II III IV VI VI VII VIII IX X XI XII I II III
2016 2017
PLN/MWh
SPOT BASE Y-17 BASE Y-18
Coal, energy market, operating data
In Q1 2017 we observed a slight growth yoy in the energy price
on the spot market
6
• Growth in the average price of baseload on SPOT market in Q1 2017 by 1.7% yoy to 154.87 PLN/MWh
• The average energy price on forward market - baseload for 2018 dropped by 1.1% yoy to 160.20 PLN/MWh in Q1 2017
BASE Y and SPOT prices
7. 20
40
60
80
100
120
140
160
180
I II III IV V VI VII VIII IX X XI XII I II III
2016 2017
PLN/MWh
Indeks sesyjny Indeks OTC
Coal, energy market, operating data
InQ12017pricesofproprietaryinterestsdemonstratedadownwardtrend
Prices of proprietary interests
• In Q1 2017 the weighted average value of the session index dropped by 12.8% yoy to 26.97 PLN/MWh in relation to Q4 2016
• OTCmarketindexinthatperiodalmosttripledinrelationtothesessionindexandamountedaveragelyto101.95PLN/MWh
7
Tradingindex OTC index
8. EUA price on the forward market for EUA Dec-17 during Q1 2017
dropped by 23.6% to the level of 4.69 EUR/t in relation to Q4 2016
Coal, energy market, operating data 8
Prices of allowances for emissions of CO2 were also decreasing in Q1 2017
3
4
5
6
7
8
9
I II III IV V VI VII VIII IX X XI XII I II III
2016 2017
EUR/t
EUA Dec-17 prices
9. Coal, energy market, operating data 9
In Q1 2017 the Group generated good operating results
Enea CG’s operating data Q1 2016 Q1 2017 Change
Generation of electricity [GWh] 3 351 3 756 12.1%
from conventional sources 3 198 3 549 11.0%
from renewable energy sources 153 207 35.3%
Gross generation of heat [TJ] 2 280 2 282 0.1%
Sales of distribution services
to end users [GWh]
4 727 4 975 5.2%
Sales of electricity and gas
to retail customers [GWh]
4 903 5 023 2.4%
10. 1 105
5 023
Przychody ze sprzedaży Wolumen sprzedaży
1 105
4 903
0
1 000
2 000
3 000
4 000
5 000
6 000
0
500
1 000
1 500
2 000
2 500
3 000
Sales revenue Sales volume
Coal, energy market, operating data 10
In Q1 2017 there was a growth in the total sales volume of electricity
and gas to retail customers
Q1 2016
Q1 2017
Electricity
309
4 714
4 483
420
25
1 0801 060
45
GWhPLN mln 2.4%
Q1 2016
Q1 2017
Gas
11. Coal, energy market, operating data 11
In Q1 2017 LW Bogdanka CG sold by over 9% coal more in volume
than in the previous year
LW Bogdanka CG’s operating results
[‘000 tonnes]
Q1 2016 Q1 2017 Change
Gross output 3 733 3 630 -2.8%
Net production 2 335 2 422 3.7%
Yield 62.6% 66.7% 4.1 p.p.
Sale of coal 2 184 2 389 9.4%
Closing stocks 380 158 -58.4%
12. Agenda
12
Enea CG's financial results in Q1 2017
Key initiatives in Q1 2017
LW Bogdanka CG's financial results
in Q1 2017
Coal, energy markets, operating data
13. Enea CG's financial results in Q1 2017 13
In Q1 2017 Enea Group’s financial performance was on an anticipated level
[PLN mln] Q1 2016 Q1 2017 Change
Net sales revenue 2 936.7 2 709.7 -7.7%
EBIT 388.6 382.6 -1.6%
EBITDA 668.3 666.4 -0.3%
Net profit 290.4 321.2 10.6%
Net debt / EBITDA 1) 1.8 2.4 33.3%
1) Debt = long-term and short-term: credits, loans and debt securities + financial lease liabilities
14. In Q1 2017, the highest growth in EBITDA, by PLN 33 mln, was generated
in the area of trade
Enea CG's financial results in Q1 2017 14
Q1 2017 [PLN mln] 178.3 202.2 262.4 50.8 6.1 -33.4 666.4
Share in EBITDA
in Q1 2017
26.7% 30.3% 39.4% 7.6% 0.9% -5.0% -
EBITDA margin 38.3% 22.7% 31.2% 3.5% 4.7% - 24.6%
Change [PLN mln] 28.0 -1.3 -42.8 33.0 -7.5 -11.3 -1.9
Change [%] 18.6% -0.6% -14.0% 185.4% -55.3% -51.3% -0.3%
Mining
• growth in quantitative
sales of coal (both in
Enea CG and for export)
by over 9% √
• higher revenue from sale
by almost 11% √
Generation1)
• higher margin
on generation
by PLN 18.6 mln √
• higher revenue from
Regulatory System Services
by PLN 7.5 mln √
• lower margin on trade
and the Balancing Market
by PLN 23.7 mln
Distribution
• higher revenue from
the sale of distribution services
to end users by PLN 60 mln √
• lower costs of purchasing energy
for coverageof book-tax
difference byPLN 8 mln √
• higher costs of purchasing
transmission services
by PLN 57 mln
Trade
• growth in energy sale
volumes by 5.2% √
• lower average energy
selling price by 3.1%
• lower average purchase
price of energy by 9.5% √
• lower costs of ecological
obligations by 48.5% √
666.4
178.3
202.2
262.4
50.8 6.1
-33.4
Mining Generation Dystribution Trade Other activity Undistributed
items and
exclusions
EBITDA Q1 2017
1) Descriptions of divergences relate to the area of generation excluding Enea Elektrownia Połaniec
15. Agenda
15
Enea CG's financial results in Q1 2017
Key initiatives in Q1 2017
LW Bogdanka CG's financial results
in Q1 2017
Coal, energy markets, operating data
16. LW Bogdanka CG's financial results in Q1 2017 16
Solid financial performance despite continuously low coal prices
LW Bogdanka CG's financial results [PLN mln] Q1 2016 Q1 2017 Change
Net sales revenue 420.6 465.2 10.6%
EBIT 78.9 89.7 13.8%
EBITDA 1)
173.3 179.8 3.7%
Net profit 54.4 68.2 25.2%
CAPEX 60.8 65.7 8.0%
Net debt / EBITDA 2)
0.136 0.002 -98.5%
1) Explanation of EBITDA presentation difference of LW Bogdanka CG and area of mining in Enea CG in Q1 2017 is given in attachments 1-2
2) Debt = long-term liabilities due to bond issue + long-term credits and loans + short-term credits and loans
17. We are balancing the share of individual areas in the Group’s EBITDA
LW Bogdanka CG's financial results in Q1 2017 17
• growth in EBITDA by PLN 6.5 mln (+3.7%) √
• growth in sale volumes of coal by 9.4% √
• growth in the price of sold coal by 0.7% √
• higher unit costs of goods sold excl. depreciation by 3%, with the balance of changes in provisions and actuarial adjustments
Q1 2017 to Q1 2016 PLN +30 mln; eliminating the impact of the balance of changes in provisions and actuarial adjustments
a drop was reported in unit costs of goods excl. depreciation by 9% √
• higher selling and administration costs - logistics and custom service costs of coal sold to Ukraine, the balance of the change
in provisions and actuarial adjustments Q1 2017 to Q1 2016
173.3 179.817.8
3.0
-7.0 -7.1 -0.2
EBITDA Q1 2016 Volume
of coal sold
Coal price Unit costs
of goods sold
excl. depreciation
Selling and
administration
costs
Result on the other
operating activity
EBITDA Q1 2017
Q1 2017 [PLN mln] 207.4 429.0 239.3 36.2 8.5 179.8
Q1 2016 [PLN mln] 189.6 426.0 232.3 29.1 8.7 173.3
Change [PLN mln] 17.8 3.0 7.0 7.1 -0.2 6.5
Change [%] 9.4% 0.7% 3.0% 24.4% -2.3% 3.7%
18. 18
Agenda
Enea CG's financial results in Q1 2017
Key initiatives in Q1 2017
LW Bogdanka CG's financial results
in Q1 2017
Coal, energy markets, operating data
19. Due to investments we are increasing the Group’s competitiveness
Key initiatives in Q1 2017 19
• Execution of 7.9 km
of new excavations
• Application for a new
mining licence
in Ostrów area
• Extension of the plant
for mining waste
neutralisation
• Replacement investments
in Zakład Przeróbki
Mechanicznej Węgla
• Tower crane installation
Kozienice Power Plant
• Launching unit 3 after
modernisation
• Installation of the catalytic
denitrogenation of flue gases
(SCR):
• units 4, 5, 6, 7 - completion
of the construction
• units 8 - continuation
of the installation
• units 9 and 10 - selection
of the contractual engineer
• Operating permit for
rainwater and sewage
treatment plant
Połaniec Power Plant
• Execution of connection
between SCR installation
and boiler for unit 7
• Improved index of
grid losses by 1.43 p.p.
• Improvement of
connection processes
• Completion of a series
of investments
implemented on high
and medium voltage
• Development of IT tools
supporting the grid
management,
e.g. launching the Power
Dispatch Centre
Sales:
• Completion of
the implementation of
the 1st stage of a multichannel
Contact Centre platform
• Development of the Customer
loyalty programme
• Implementationofthesystem
aidingthesale-purchaseportfolio
managementandprojection
Wholesale trading:
• Improvement of a model of
long-term price paths for
products listed on wholesale
markets
• Initiation of integration
processes in the area
of wholesale trade
Key initiatives Q1 2017
Mining Generation Distribution Trade
20. • Assembly of electrical installations and Control
and Measurement Instruments and Automation
of air compressor room
• Cold start-up relating to the electrostatic precipitator,
starting boiler room and raw water pumping station
• Report on readiness of 400kV field for power supply
• Completion of the assembly of Control and Measurement
Instruments and Automation of the light-up oil system
• Flushing the main system of the service water
and system and generator sealing oil system
• Conducting trials and tests as regards weights
and samplers
• Completion of a hot start-up of the carburising system
within coal unloading to col storing sites, unloading of
12 thou. tonnes of coal to coal sites
• Supplying power to 400 kV transformers
BAT 10-30, BBT 10-20
Key initiatives in Q1 2017 20
Preparations are in progress for the project to enter the start-up phase
of individual installations
Unit 11 - works realised in Q1 2017
progress in the new unit’s
construction 1)
1) State as at May 2017
98%
21. We are consistently implementing the development strategy
Key initiatives in Q1 2017 21
Equity
investments
Generation
Distribution
Mining
Support and other
PLN 38 mln
on investment relating to
environmental protection
in Q1 2017
73%
13%
8%
4% 2%
Capital expenditures
[PLN mln]
Q1 2016 Q1 2017 Change % 2017 Plan
Generation 135.4 244.6 80.6% 1 229.9
Distribution 174.9 150.0 -14.2% 970.5
Mining 60.8 65.4 1
7.6% 385.6
Support and other 9.7 34.3 253.6% 172.5
Equity investments - 1 347.1 - -
TOTAL 380.8 1 841.4 383.6% 2 758.5
Capital expenditures Q1 2017
1) The amount does not include PLN 0.3 mln expenditures incurred in Q1 2017 by subsidiaries of LW Bogdanka SA
24. 179.82
178.27
-0.15-1.40
170
172
174
176
178
180
182
EBITDA LWB CG
statutory data
Difference in amortisation
recognition method
Other presentation
adjustments
EBITDA LWB CG
data in Enea CG's report
PLN mln
Attachments 24
Att. 1 - Explanation of EBITDA presentation difference in LW Bogdanka CG
and Enea CG’s area of mining in Q1 2017
Q1 2017
25. Attachments
Att. 2 – Performance of the segment of system power plants in Q1 2017
supported the results generated by the area of generation
25
[PLN mln]
Generation, including:
System Power Plants Heat RES
Q1 2016 Q1 2017 Change Q1 2016 Q1 2017 Change Q1 2016 Q1 2017 Change
Revenue
from sales
692 710 18 165 153 -12 21 28 7
EBIT 81 81 - 59 56 -3 3 -2 -5
EBITDA 122 129 7 72 69 -3 10 5 -5
CAPEX 120 220 100 11 25 14 4 0 -4