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.
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
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.
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
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
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.
Snam's 2014-2017 strategy focuses on delivering sustainable and profitable growth through selective investments, operational efficiency, financial discipline, and attractive returns. Key pillars include exploiting high-quality investment opportunities in Italy totaling €6 billion, focusing on two main European gas corridors to integrate assets, and maintaining cost control. Snam will strengthen security, flexibility and services in Italy while optimizing existing European assets like TIGF, PEG, and pursuing the acquisition of TAG to further integrate the East-West corridor.
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.
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
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.
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
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
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.
Snam's 2014-2017 strategy focuses on delivering sustainable and profitable growth through selective investments, operational efficiency, financial discipline, and attractive returns. Key pillars include exploiting high-quality investment opportunities in Italy totaling €6 billion, focusing on two main European gas corridors to integrate assets, and maintaining cost control. Snam will strengthen security, flexibility and services in Italy while optimizing existing European assets like TIGF, PEG, and pursuing the acquisition of TAG to further integrate the East-West corridor.
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.
The document discusses a presentation given by Ed Palmer from the Office for National Statistics (ONS) on UK statistics and the ONS's role and activities. Some key points:
- The ONS is an independent government body that produces official statistics to inform public policy and debate in an objective and trusted way.
- It is responsible for key economic statistics like GDP, inflation, employment as well as data on populations, health, and other social and environmental topics.
- The ONS is transforming how it produces statistics to take advantage of new data sources like administrative records and improve timeliness, detail, and accuracy of estimates.
- Examples provided include using VAT data to improve regional GDP estimates and exploring use
UGI Corporation is an energy products and services distributor presenting at the AGA Financial Forum. The presentation outlines UGI's business units including UGI Utilities, which operates a natural gas distribution system in Pennsylvania; AmeriGas, the largest propane distributor in the US; UGI International, which distributes LPG in Europe; and a Midstream & Marketing unit. The presentation discusses growth initiatives for each business unit such as infrastructure replacements and customer additions for UGI Utilities, expansion into commercial accounts and acquisitions for AmeriGas, and organic and acquisition growth opportunities for UGI International.
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.
Terna 2018 2022 Strategic Plan Grid and ValuesTerna SpA
This document provides an agenda and overview for Terna's 2018-2022 strategic plan. The key points are:
1) Terna will focus on reinforcing Italy's transmission grid through accelerated investments of €5.3 billion from 2018-2022 to support the energy transition toward renewables and system reliability.
2) Non-regulated activities like energy solutions, telecommunications, and O&M services will contribute an estimated €350 million in EBITDA over the period.
3) International projects in Latin America will involve up to €300 million in limited-risk investments leveraging Terna's grid expertise.
4) Innovation and digitization are emphasized as enabling factors to manage increasing grid complexity through data
Financial Statements Review 2013: Solid performance in services - focus on profitability improvement
Presentation material at the new conference on February 6, 2014.
The document provides an overview of Bucher Industries' annual press and analysts' conference held on 6 March 2014. It notes the company achieved its best results in history in 2013, with an EBIT margin of 10.7% and profit for the year of CHF 196 million. It also discusses continuity in investments for internal growth and acquisitions, a solid financial situation with zero net debt, and great financial scope for further growth. Each division - Kuhn Group, Bucher Municipal, Bucher Hydraulics, Bucher Emhart Glass, and Bucher Specials - is briefly highlighted with key figures and outlook for 2014.
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/
This document summarizes the Philippine experience in measuring Gross Regional Domestic Product (GRDP). It discusses the compilation process for GRDP by industrial origin using a top-down approach. It also describes the sources of data, estimation methodologies, development efforts made, and issues faced in GRDP measurement. Current improvements include revising the 1998-2009 series and shifting the base year to 2000 and eventually 2006. Next steps include compiling city/provincial product accounts and providing more training.
Klöckner & Co - Roadshow Presentation August 28, 2007Klöckner & Co SE
Klöckner & Co is a leading multi-metal distributor with a distribution network of approximately 250 warehouses across Europe and North America. In the first half of 2007, Klöckner reported sales of €3.2 billion, up 16.7% from the prior year, and EBITDA of €195 million. Klöckner pursues a strategy of profitable growth through acquisitions, organic expansion, and operational improvements like the STAR program to optimize purchasing and logistics. The company expects at least 15% sales growth for 2007 and for EBITDA to remain around 2006 levels.
The document discusses Canada's system for producing regional economic accounts, including regional input-output tables, regional income and expenditure accounts, and regional GDP by industry. It outlines the principles, legislative requirements, data sources, timing, detail, benchmarking, balancing, and deflation methods used to integrate these regional accounts and ensure they are consistent with national economic accounts.
Speech of Jose Manuel Entrecanales in the GMSacciona
1) ACCIONA had a positive 2015, overcoming difficult situations in recent years through an action plan that strengthened the company financially and organizationally.
2) Key financial figures for 2015 include €6.5 billion in revenue, €1.17 billion in EBITDA, and €207 million in net profit.
3) ACCIONA is well positioned to benefit from increasing global investment in renewable energy driven by commitments to reduce greenhouse gas emissions and decarbonize the economy.
- Marel reported strong orders received in Q3 2021 leading to a healthy order book, with strong performance in poultry and fish but softer orders for meat. Revenues were up 15.6% year-over-year.
- Gross profit was 37.1% in Q3 2021, impacted by higher costs of customer deliveries due to supply chain challenges. Profitability was also hampered by increased operating expenses to support growth.
- The order book at the end of Q3 2021 was EUR 528 million, representing 39.5% of trailing 12-month revenues, supported by a book-to-bill ratio of 1.09x in Q3 2021.
The document summarizes new policies by the Indian government related to gas pooling and pricing of urea production. Key points:
1) Gas pooling policy levels gas costs for all urea plants connected to the gas grid, removing the advantage of plants with access to cheaper domestic gas. This will incentivize competition based on energy efficiency rather than gas costs.
2) The new urea policy tightens energy consumption norms, reducing subsidies but incentivizing energy efficiency improvements. It also changes the pricing of production above reassessed capacity to a fixed contribution plus variable costs.
3) These policies aim to reduce subsidy costs, increase domestic production, and improve the industry's competitiveness through a common gas price and
- Revenues for Q1 2021 totaled EUR 334m, up 10.7% from Q1 2020. Orders received were also up year-over-year at EUR 369m.
- Gross profit was 37.2% of revenues, impacted by higher costs of customer deliveries due to logistical challenges. Operating expenses increased to support growth initiatives.
- Adjusted EBIT margin was 11.4%, up from 8.4% in Q1 2020. Net result increased 58.2% to EUR 21.2m.
On Thursday 22 July 2021, Marel hosted a virtual investor meeting where CEO Arni Oddur Thordarson and CFO Linda Jonsdottir gave an overview of the financial results and operational highlights in the second quarter.
- Revenues totaled EUR 287.2m in Q3 2020, down 8.1% from EUR 312.5m in Q3 2019, with 41% of revenues from recurring aftermarket sales.
- Gross profit was EUR 113m or 39.2% of revenues in Q3 2020, up from 38.2% in Q3 2019, due to favorable product mix and good project execution.
- Adjusted EBIT was EUR 44m or 15.4% of revenues in Q3 2020, up from 14.2% in Q3 2019, benefiting from lower operating expenses in addition to improved gross profit margins.
The document discusses the key principles of multi-year tariff (MYT) framework for electricity regulation in India. Some key points:
- MYT aims to incentivize efficiency, reduce regulatory uncertainty, assist utilities in planning, and introduce efficient tariff design.
- It determines the regulatory framework for a period of time including principles for regulating returns, costs, and ongoing regulation.
- The framework separates controllable and uncontrollable costs and treats them differently. Uncontrollable costs like fuel costs are passed through while utilities share gains/losses from controllable costs.
- Utilities file multi-year applications covering ARR, revenue, capital plans and performance targets for a control period of typically 5
Ballard Power Systems reported its first quarter 2009 results. Total product shipments decreased 32% from the previous year due to weak demand. Revenue declined 50% due to lower automotive sector business. The net loss increased compared to the prior year, which included significant one-time gains. Ballard confirmed its full year guidance and expects shipments and revenues to increase in the second half of 2009.
The Hera Group reported positive financial results for the first quarter of 2015, with revenues up 7.1% to €1.31 billion due to acquisitions. Net profit increased 3.8% to €92.5 million, helped by growth in the gas and water segments. Capital expenditures of €64.1 million reduced net debt from €2.64 billion at the end of 2014 to €2.56 billion at the end of the first quarter of 2015.
- Photographing the Moon - A quick Guide
o For SLR and Point and Shoot Cameras
o To know the moon phases including moonrise time and moonset time refer to www.timejones.com/moon/today
Ferris Haddad is a graphic designer graduating from Sanford-Brown University in 2016. He has two years of experience creating logos, page layouts, and coding. He is self-motivated, works well independently or with others, and ensures projects are completed on time and within budget. His skills include using Adobe Creative Suite, HTML5, CSS, WordPress, and Final Cut Pro 10/Motion 5. His previous work includes developing logos and branding for clients and working on websites for multiple companies.
The document discusses a presentation given by Ed Palmer from the Office for National Statistics (ONS) on UK statistics and the ONS's role and activities. Some key points:
- The ONS is an independent government body that produces official statistics to inform public policy and debate in an objective and trusted way.
- It is responsible for key economic statistics like GDP, inflation, employment as well as data on populations, health, and other social and environmental topics.
- The ONS is transforming how it produces statistics to take advantage of new data sources like administrative records and improve timeliness, detail, and accuracy of estimates.
- Examples provided include using VAT data to improve regional GDP estimates and exploring use
UGI Corporation is an energy products and services distributor presenting at the AGA Financial Forum. The presentation outlines UGI's business units including UGI Utilities, which operates a natural gas distribution system in Pennsylvania; AmeriGas, the largest propane distributor in the US; UGI International, which distributes LPG in Europe; and a Midstream & Marketing unit. The presentation discusses growth initiatives for each business unit such as infrastructure replacements and customer additions for UGI Utilities, expansion into commercial accounts and acquisitions for AmeriGas, and organic and acquisition growth opportunities for UGI International.
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.
Terna 2018 2022 Strategic Plan Grid and ValuesTerna SpA
This document provides an agenda and overview for Terna's 2018-2022 strategic plan. The key points are:
1) Terna will focus on reinforcing Italy's transmission grid through accelerated investments of €5.3 billion from 2018-2022 to support the energy transition toward renewables and system reliability.
2) Non-regulated activities like energy solutions, telecommunications, and O&M services will contribute an estimated €350 million in EBITDA over the period.
3) International projects in Latin America will involve up to €300 million in limited-risk investments leveraging Terna's grid expertise.
4) Innovation and digitization are emphasized as enabling factors to manage increasing grid complexity through data
Financial Statements Review 2013: Solid performance in services - focus on profitability improvement
Presentation material at the new conference on February 6, 2014.
The document provides an overview of Bucher Industries' annual press and analysts' conference held on 6 March 2014. It notes the company achieved its best results in history in 2013, with an EBIT margin of 10.7% and profit for the year of CHF 196 million. It also discusses continuity in investments for internal growth and acquisitions, a solid financial situation with zero net debt, and great financial scope for further growth. Each division - Kuhn Group, Bucher Municipal, Bucher Hydraulics, Bucher Emhart Glass, and Bucher Specials - is briefly highlighted with key figures and outlook for 2014.
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/
This document summarizes the Philippine experience in measuring Gross Regional Domestic Product (GRDP). It discusses the compilation process for GRDP by industrial origin using a top-down approach. It also describes the sources of data, estimation methodologies, development efforts made, and issues faced in GRDP measurement. Current improvements include revising the 1998-2009 series and shifting the base year to 2000 and eventually 2006. Next steps include compiling city/provincial product accounts and providing more training.
Klöckner & Co - Roadshow Presentation August 28, 2007Klöckner & Co SE
Klöckner & Co is a leading multi-metal distributor with a distribution network of approximately 250 warehouses across Europe and North America. In the first half of 2007, Klöckner reported sales of €3.2 billion, up 16.7% from the prior year, and EBITDA of €195 million. Klöckner pursues a strategy of profitable growth through acquisitions, organic expansion, and operational improvements like the STAR program to optimize purchasing and logistics. The company expects at least 15% sales growth for 2007 and for EBITDA to remain around 2006 levels.
The document discusses Canada's system for producing regional economic accounts, including regional input-output tables, regional income and expenditure accounts, and regional GDP by industry. It outlines the principles, legislative requirements, data sources, timing, detail, benchmarking, balancing, and deflation methods used to integrate these regional accounts and ensure they are consistent with national economic accounts.
Speech of Jose Manuel Entrecanales in the GMSacciona
1) ACCIONA had a positive 2015, overcoming difficult situations in recent years through an action plan that strengthened the company financially and organizationally.
2) Key financial figures for 2015 include €6.5 billion in revenue, €1.17 billion in EBITDA, and €207 million in net profit.
3) ACCIONA is well positioned to benefit from increasing global investment in renewable energy driven by commitments to reduce greenhouse gas emissions and decarbonize the economy.
- Marel reported strong orders received in Q3 2021 leading to a healthy order book, with strong performance in poultry and fish but softer orders for meat. Revenues were up 15.6% year-over-year.
- Gross profit was 37.1% in Q3 2021, impacted by higher costs of customer deliveries due to supply chain challenges. Profitability was also hampered by increased operating expenses to support growth.
- The order book at the end of Q3 2021 was EUR 528 million, representing 39.5% of trailing 12-month revenues, supported by a book-to-bill ratio of 1.09x in Q3 2021.
The document summarizes new policies by the Indian government related to gas pooling and pricing of urea production. Key points:
1) Gas pooling policy levels gas costs for all urea plants connected to the gas grid, removing the advantage of plants with access to cheaper domestic gas. This will incentivize competition based on energy efficiency rather than gas costs.
2) The new urea policy tightens energy consumption norms, reducing subsidies but incentivizing energy efficiency improvements. It also changes the pricing of production above reassessed capacity to a fixed contribution plus variable costs.
3) These policies aim to reduce subsidy costs, increase domestic production, and improve the industry's competitiveness through a common gas price and
- Revenues for Q1 2021 totaled EUR 334m, up 10.7% from Q1 2020. Orders received were also up year-over-year at EUR 369m.
- Gross profit was 37.2% of revenues, impacted by higher costs of customer deliveries due to logistical challenges. Operating expenses increased to support growth initiatives.
- Adjusted EBIT margin was 11.4%, up from 8.4% in Q1 2020. Net result increased 58.2% to EUR 21.2m.
On Thursday 22 July 2021, Marel hosted a virtual investor meeting where CEO Arni Oddur Thordarson and CFO Linda Jonsdottir gave an overview of the financial results and operational highlights in the second quarter.
- Revenues totaled EUR 287.2m in Q3 2020, down 8.1% from EUR 312.5m in Q3 2019, with 41% of revenues from recurring aftermarket sales.
- Gross profit was EUR 113m or 39.2% of revenues in Q3 2020, up from 38.2% in Q3 2019, due to favorable product mix and good project execution.
- Adjusted EBIT was EUR 44m or 15.4% of revenues in Q3 2020, up from 14.2% in Q3 2019, benefiting from lower operating expenses in addition to improved gross profit margins.
The document discusses the key principles of multi-year tariff (MYT) framework for electricity regulation in India. Some key points:
- MYT aims to incentivize efficiency, reduce regulatory uncertainty, assist utilities in planning, and introduce efficient tariff design.
- It determines the regulatory framework for a period of time including principles for regulating returns, costs, and ongoing regulation.
- The framework separates controllable and uncontrollable costs and treats them differently. Uncontrollable costs like fuel costs are passed through while utilities share gains/losses from controllable costs.
- Utilities file multi-year applications covering ARR, revenue, capital plans and performance targets for a control period of typically 5
Ballard Power Systems reported its first quarter 2009 results. Total product shipments decreased 32% from the previous year due to weak demand. Revenue declined 50% due to lower automotive sector business. The net loss increased compared to the prior year, which included significant one-time gains. Ballard confirmed its full year guidance and expects shipments and revenues to increase in the second half of 2009.
The Hera Group reported positive financial results for the first quarter of 2015, with revenues up 7.1% to €1.31 billion due to acquisitions. Net profit increased 3.8% to €92.5 million, helped by growth in the gas and water segments. Capital expenditures of €64.1 million reduced net debt from €2.64 billion at the end of 2014 to €2.56 billion at the end of the first quarter of 2015.
- Photographing the Moon - A quick Guide
o For SLR and Point and Shoot Cameras
o To know the moon phases including moonrise time and moonset time refer to www.timejones.com/moon/today
Ferris Haddad is a graphic designer graduating from Sanford-Brown University in 2016. He has two years of experience creating logos, page layouts, and coding. He is self-motivated, works well independently or with others, and ensures projects are completed on time and within budget. His skills include using Adobe Creative Suite, HTML5, CSS, WordPress, and Final Cut Pro 10/Motion 5. His previous work includes developing logos and branding for clients and working on websites for multiple companies.
The document requests a filming location for an advertisement at Eccles Sixth Form College located at Chatsworth Road in Eccles, Manchester with the postal code M30 9FJ. It was written by Kendell Burgess for Advertising Production.
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.
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
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.
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.
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.
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'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.
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
ES-SYSTEM Presentation of data for Q1 2015ES-SYSTEM
The document provides financial results and prospects for ES-SYSTEM Capital Group for the 1st quarter of 2015. Revenues increased 10.4% to PLN 37.4 million compared to a 0.8% decrease in the prior year. However, net loss was PLN 0.5 million compared to PLN 0.1 million loss in the prior year due to seasonal factors. Domestic and export sales increased, with LED lighting comprising 41% of total sales. While prospects for the 2nd quarter look positive, seasonal factors impacted 1st quarter results. A dividend of PLN 0.35 per share was also declared.
ES-SYSTEM Presentation of data for Q3 2015ES-SYSTEM
The document provides financial results and business prospects for ES-SYSTEM Capital Group for the third quarter of 2015. It reports that net revenues increased by 9% year-over-year to 132.41 million PLN, net profit increased by 54% to 7 million PLN, and EBIT increased by 59% to 6.99 million PLN. Domestic sales increased by 7.7% driven by the architectural, industrial, and LED lighting segments. Export sales grew by 18% in key markets like Sweden, Czech Republic, and Germany. The company expects continued growth for the full year 2015 and provides examples of lighting projects completed in the third quarter in countries like Poland, Sweden, Portugal, and others.
This document provides a year-end report and outlook for 2011 from Billerud AB. It summarizes that while Billerud achieved a 6% increase in net sales in 2011, earnings declined due to price pressure and higher costs in the second half of the year. It also announces the acquisition of UPM-Kymmene's packaging paper business in Finland, which will strengthen Billerud's packaging offerings and reduce its market pulp exposure.
This document summarizes the financial results of CIECH for 2015. Key highlights include:
- Revenue increased 0.9% to PLN 3.27 billion while adjusted EBITDA grew 46.4% to PLN 748 million, driven by higher soda prices and sales volumes as well as lower energy costs.
- Net profit increased 108% to PLN 346 million due to improved operating performance and significant decrease in financing costs from debt refinancing.
- All business segments saw increases in profits and margins except for the glass and silicates segment which was impacted by the end of a trading contract.
- The outlook for 2016 remains positive but faces challenges from the soda market environment and energy prices.
This document provides key financial data for Vattenfall for the full year and fourth quarter of 2020. Some key points:
- Full year net sales decreased 5% to SEK 158.8 billion due to lower electricity prices and sales volumes in Nordic countries, Netherlands, and Germany.
- Underlying operating profit was stable at SEK 25.8 billion despite challenges, due to business diversification and hedging.
- Profit decreased to SEK 7.7 billion due to large impairment losses from coal-fired assets in Germany.
- Electricity generation decreased 17% to 112.8 TWh mainly from lower nuclear and fossil production, partly offset by higher hydro and wind.
ES-SYSTEM Presentation of data for Q1 2014ES-SYSTEM
The document summarizes the financial results and business prospects of ES-SYSTEM Capital Group for the first quarter of 2014. Key points include:
- Net revenues decreased 0.8% year-over-year to PLN 33.89 million.
- Net loss was PLN 0.126 million compared to a net loss of PLN 0.212 million in Q1 2013.
- Domestic sales increased 2% year-over-year while export sales decreased 12%.
- Management expects single-digit sales growth in Q2 2014 compared to Q2 2013.
- Participation in trade fairs generated new contracts and orders, particularly for LED lighting solutions.
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.
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
- Hera Group reported another year of sound growth in 2015, with revenues increasing 6.7% to €4.8 billion and net profit rising 15.4% to €188.7 million.
- EBITDA grew 1.9% to €884.4 million, driven by organic growth, synergies from acquisitions, and contributions from recent M&A activity.
- The results demonstrate the reliability of Hera's growth model, with consistent increases in key financial figures over the past 5 years.
Interim Review January-June 2014: Strong development in orders received continued - profitability improvement proceeding according to plan
Presentation material at the news conference on July 31, 2014.
AkzoNobel reported strong financial results for Q2 2015, with operating income up 38% year-over-year. All business areas showed improved performance driven by cost reductions and currency effects. The company completed the divestment of its Paper Chemicals business and concluded the triennial review of its ICI Pension Fund, reducing future cash contributions. AkzoNobel is on track to meet its targets for 2015 and continues progressing its strategic initiatives.
Enea CG is a Polish energy group that operates across electricity generation, distribution, mining, and sales. It has a 58 thousand km2 distribution area serving 2.5 million clients. Some key facts about Enea CG:
- It has a 15% share in Polish energy generation capacity and a 18% share in the coal market.
- The corporate strategy until 2030 aims to guarantee competitive advantage and shareholder value growth.
- Consistent implementation of strategic goals strengthens the group's market position.
Prezentacja inwestorska dotycząca wyników finansowych i operacyjnych w III kwartale 2016 r. Omówienie wyników finansowych i najważniejszych wydarzeń w III kwartale 2016 r.:
Enea CG’s development strategy until 2030 (english)Enea
The document outlines Enea Capital Group's development strategy until 2030. The key goals are to become an innovative leader in the energy sector through diversification, new services, and a focus on technological progress. The strategy involves 60 initiatives across seven areas, including over 50% aimed at developing innovative technologies and new business lines. A new entity, Enea Innovation, will be established to identify and implement innovative products, services, and coordinate innovation efforts. The strategy expects to increase key performance indicators such as EBITDA, returns on equity and assets, and customer satisfaction through strategic initiatives and capital expenditures totaling PLN 27.8 billion from 2016-2030.
Prezentacja inwestorska dotycząca wyników finansowych i operacyjnych w I półroczu 2016 r.
Omówienie wyników finansowych i najważniejszych wydarzeń w I półroczu 2016 r.:
1) Rynek węgla, energii. kluczowe dane operacyjne i sprzedażowe
2) Wyniki finansowe GK Enea w IIQ i IH 2016
3) Wyniki finansowe GK LW Bogdanka w IIQ i IH 2016
4) Kluczowe inicjatywy w IH 2016
Prezentacja inwestorska dotycząca wyników finansowych i operacyjnych w I kwartale 2016 r.
Omówienie wyników finansowych i najważniejszych wydarzeń w I kwartale 2016 r.:
1) Rynek energii i paliw. kluczowe dane operacyjne
2) Wyniki finansowe GK Enea w IQ 2016
3) Wyniki finansowe i operacyjne GK LW Bogdanka w IQ 2016
4) Inwestycje i inicjatywy GK Enea w IQ 2016
Prezentacja inwestorska dotycząca wyników finansowych i operacyjnych w 2015 r.
Omówienie wyników finansowych i najważniejszych wydarzeń w 2015 r.:
1) Rynek energii i paliw, kluczowe dane operacyjne
2) Wyniki finansowe GK Enea w IVQ 2015 i 2015
3) Wyniki finansowe GK LW Bogdanka w IVQ 2015 i 2015
4) Zrównoważony i długofalowy rozwój GK Enea
Prezentacja inwestorska dotycząca wyników finansowych i operacyjnych w III kwartale 2015 r.
Omówienie wyników finansowych i najważniejszych wydarzeń w 2015 r.:
1) Rynek energii i kluczowe dane operacyjne
2) Wyniki finansowe GK Enea w IIIQ i I-IIIQ 2015
3) Aktualizacja strategii na lata 2015-2020
4) Nowy blok w elektrowni Kozienice
5) Akwizycja LW Bogdanka
Prezentacja inwestorska dotycząca wyników finansowych i operacyjnych w I półroczu 2015 r.
Omówienie wyników finansowych i najważniejszych wydarzeń w 2015 r.
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Methanex is the world's largest producer and supplier of methanol. We create value through our leadership in the global production, marketing and delivery of methanol to customers. View our latest Investor Presentation for more details.
Cleades Robinson, a respected leader in Philadelphia's police force, is known for his diplomatic and tactful approach, fostering a strong community rapport.
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UnityNet World Environment Day Abraham Project 2024 Press ReleaseLHelferty
June 12, 2024 UnityNet International (#UNI) World Environment Day Abraham Project 2024 Press Release from Markham / Mississauga, Ontario in the, Greater Tkaronto Bioregion, Canada in the North American Great Lakes Watersheds of North America (Turtle Island).
UnityNet World Environment Day Abraham Project 2024 Press Release
Enea 2015 Q1
1. Enea Group is changing for Customers
Q1 2015
Warsaw, 15 May 2015
2. 2
Agenda
Energy market and key operating data
Enea CG's financial results in Q1 2015
Enea Group invests and grows for Customers
3. Enea Group holds a stronger and stronger position
on a difficult energy market
4. Energy market and key operating data
• Lower average price of baseload in Q1 by 9.7% yoy
• SPOT market was influenced by:
• relatively high level of power available for OTSs
• high level of wind generation
• mild winter
• high level of market participants' contracting
Energy prices are under pressure of unfavourable market environment
4
• Baseload price for 2016 dropped from 181 PLN/MWh at
the beginning of January to slightly below 170 PLN/MWh
at the end of March
• Decreases in electricity prices stemmed from:
• difficult situation on fuel market reflected in low coal
prices
• planned increases in capacity in wind power plants
• planned growth in possibilities of importing energy to
Poland in conjunction with low energy prices on foreign
markets
BASE Y-15, BASE Y-16 prices vs. SPOT prices
PLN/MWh
130
140
150
160
170
180
190
200
210
I II III IV V VI VII VIII IX X XI XII I II III
2014 2015
BASE_Y-15 BASE_Y-16 SPOT 2014-15
5. Energy market and key operating data
Prices of proprietary interests are changing in a downward trend
5
100
150
200
250
300
I II III IV V VI VII VIII IX X XI XII I II III
2014 2015
PLN/MWh
Indeks sesyjny OTC
• The changes in the prices of PMOZE_A in Q1 2015
were affected mainly by:
• legislative works over the RES act
• growing surplus of allowances in the register
resulting from an intensive issue of certificates
of origin by ERO - in Q1 almost 7 TWh allowances
entered the market which resulted in the estimated
growth in the oversupply of allowances to 17 TWh
(as at 31 March 2015)
• In Q1 the average weighted value of the index
dropped by 9.2% amounting to 147.63 PLN/MWh
• Currently, there are no fundamental grounds for
the situation to improve on the PMOZE_A market
Prices of Proprietary Interests
Trading index
6. Energy market and key operating data
• The emission allowance market was affected by:
• fundamental factors - a significant oversupply
of allowances on the market
• activities performed on the European Union's
political scene, mainly as regards the market
stabilisation reserve (MSR)
• EUA allowance price on the forward market with
delivery in December 2015 dropped by 1.7% in Q1 2015
• Upholding the downturn trend of coal prices
on foreign markets
• Prices reported at the end of Q1 2015:
• Amsterdam-Rotterdam-Antwerp: 61.20 USD/t
• Richards Bay: 60.95 USD/t
• Newcastle: 62.87 USD/t
Global prices of coal decrease invariably
6
4
5
6
7
8
I II III IV V VI VII VIII IX X XI XII I II III
2014 2015
EUR/t
EUA price
Cena CO2 gru-15CO2 Dec-15 price
50
60
70
80
90
100
110
120
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
IV
V
VI
VII
VIII
IX
X
XI
XII
I
II
III
2012 2013 2014 2015
USD/t
Monthly indices of coal prices (globalCOAL)
Richards Bay (RPA) Newcastle (Australia) Amsterdam-Rotterdam-AntwerpiaRSA
7. Energy market and key operating data
7
In Q1 2015 we continued the reconstruction of the electricity sales portfolio
956
923
1 047
3 417
3 961
4 227
2 000
2 500
3 000
3 500
4 000
4 500
900
1 000
1 100
1 200
Q1 2013 Q1 2014 Q1 2015
PLNmln
GWh
Sales revenue Sales volume
In Q1 2015, due to alternative activities in the area of trade Enea Group increased the volumes
of electricity sold to retail users by 7% and revenue from sales of energy - by over 13%
Sales of electricity to end users
8. Energy market and key operating data
Conventional generation - lower volumes of energy sales stemming
from a drop in energy market prices
8
In Q1 2015 Enea Group produced almost 3 TWh energy
[GWh] Q1 2014 Q1 2015 Change
Total generation of energy, including: 3 142 2 963 -5.7%
Conventional generation 2 866 2 692 -6.1%
RES generation 276 271 -1.8%
Generation from RES - low flows in rivers resulting from unfavourable
hydrological conditions in Q1 2015
9. 9
Agenda
Energy market and key operating data
Enea CG's financial results in Q1 2015
Enea Group invests and grows for Customers
10. A consistently realised reconstruction of the Group
allows for a regular improvement in financial results
11. Enea CG's financial results in Q1 2015
11
Enea Group improved financial results in Q1 2015
[PLN mln] Q1 2014 Q1 2015 Change
Net sales revenue 2 373.7 2 446.4 +3.1% √
EBITDA 464.3 509.1 +9.6% √
Net profit 211.7 265.3 +25.4% √
Net debt/EBITDA -0.36 0.69 1.04
12. Enea CG's financial results in Q1 2015
12
In Q1 2015 Enea Group reported the highest EBITDA on distribution,
and the greatest growth in EBITDA result on generation
269.6
327.3
194.7
181.7
52.7 6.8
16.1
-11.2
-19.7
0
100
200
300
400
500
600
EBITDA Q1 2014 Trade Distribution Generation Other activity Exclusions EBITDA Q1 2015
EBIT
Amortisation/
depreciation
Growth in segment
Drop in segment
Change in segment yoy [%]
EBITDA margin [%]
19.6% 35.1% 21.3% 11.3% 20.8%3.3%
-18.4% -6.7% 42.6% 88.0%
464.3
509.1
1)
1) Includes undistributed expenses
of the whole Group and exclusions
[PLN mln]
13. Enea CG's financial results in Q1 2015
Segment of trade
Drop of EBITDA by PLN 11.2 mln (18.4%)
• higher volumes of sales of electricity to retail customers by 266 GWh
with average selling price higher by 6.3% √
• lower volumes of electricity sold in the wholesale trading by 887 GWh
• higher average purchase price of energy by 12%
• higher costs of ecological and cogeneration obligations by PLN 52 mln
Segment of distribution
Drop of EBITDA by PLN 19.7 mln (6.7%)
• higher volumes of sales of distribution services to end users by 94 GWh
with concurrently higher fees in 2015 Tariff vs. 2014 Tariff by 2.5% √
• employment and exploitation process optimisation √
• recognition in Q1 2014 of the final settlement of electricity purchases
for covering the book-tax difference relating to 2013 (PLN 32 mln)
• higher costs of legal regulations relating to the grid assets
(by PLN 11.7 mln) and lower revenue from removal of collisions
on grid assets (by PLN 7 mln)
Segment of generation
Increase of EBITDA by PLN 52.7 mln (42.6%)
• higher margin on trade and balancing market (by PLN 20 mln)
and margin on generation (by PLN 19 mln) √
• higher volumes of sales of heat energy √
13
In Q1 2015 Enea Group reported the highest EBITDA on distribution,
and the greatest growth in EBITDA result on generation
[PLN mln] Q1 2014 Q1 2015 Change
Generation 123.7 176.4 42.6%
[PLN mln] Q1 2014 Q1 2015 Change
Trade 61.1 49.9 -18.4%
[PLN mln] Q1 2014 Q1 2015 Change
Distribution 292.5 272.8 -6.7%
14. Enea CG's financial results in Q1 2015
14
In February, we successfully performed the issue of the first series of bonds
totalling to PLN 1 billion
[PLN mln]
687
1 410
265
182
1 000
82
-240
-567
0
500
1 000
1 500
2 000
Cash
1 January 2015
Net profit Amortisation/
depreciation
Working capital External
financing
Capex Other Cash
31 March 2015
15. Enea CG's financial results in Q1 2015
15
Enea Group generated good quarterly financial results in the difficult market environment
Enea CG's financial results above market expectations
Higher level of margins generated in Q1 2015:
Enea Group has been consistently realising an ambitious investment programme
- in Q1 2015 the Group's CAPEX amounted to PLN 597 mln (growth by 86% yoy)
with a low value of net debt/EBITDA ratio totalling to 0.7
Debut of the Company's corporate bonds totalling to PLN 1 billion on Catalyst market
EBIT margin grew yoy by 2.2 p.p. to 13.4%
EBITA margin grew yoy by 1.4 p.p. to 20.8%
Net profitability grew yoy by 1.9 p.p. to 10.8%
16. 16
Agenda
Energy market and key operating data
Enea CG's financial results in Q1 2015
Enea Group invests and grows for Customers
18. Enea Group invests and grows for Customers
18
Enea Group, as the first one, will obtain benefits from new generating capacities
Modernisation of unit No. 7 in Kozienice
Assembly of 6 kV switching station for IOS IV in Kozienice
Completion of the flue gases denitrification installation
- SCR for 200 MW unit No. 7 in Kozienice
Completion of the construction of the heat recovery
installation from K6 boiler's flue gases in Białystok
Completion of the construction of a gaseous
cogeneration unit in Piła
1,075 MW unit - tasks completed in Q1 2015
Performance of the main steel structure of engine room building
Performance of the post and beam skeleton for electrical devices building
Installation of four coal bunkers
Delivery of: feeding water tank and pumps, low-speed and high-speed heaters
Generator start-up trials at producer's
Investments completed in Q1 2015
19. Enea Group invests and grows for Customers
19
Enea becomes a modern and efficient energy company
Completion of works over the new website
Implementation of a central billing system
Development of gaseous fuel sales on
the wholesale and retail markets
Commencement of sales within GDA-C
Development of custom, structured origination products
Extension of the trading system and implementation of advanced IT tools supporting the trading functions
Modernisation and extension of power grid
Launching sales of products by Call Centre
Initiatives completed in Q1 2015
20. Enea Group invests and grows for Customers
20
The Group develops a uniform economic body under Enea brand
Standardisation of companies' names: name of "Enea"
+ an element describing the scope of operations
Logotype refreshment - underlining the brand professionalism
and making the Group's image more modern
Launching the new internet portal designed with the thought
of the comfort of existing and future Customers
Initiatives completed in Q1 2015
Standardisation of trade marks of the Group companies
– all companies (except Enea Operator) use the Enea's logotype
21. Enea Group invests and grows for Customers
21
Introduction of new products for individual Customers:
ENERGY+ Health
ENERGY+ Peace of Mind
ENERGY+ Fixed Price
Development of the platform for the promotion of new products
and services - energiaplus.pl - promotional actions:
ENERGY+ Power of Prizes
ENERGY+ Power of Excitements
Development of the product and service range
for business Customers:
New product: "ENEA INDEX DIMINISHING OPTION"
Building relations based on the dedicated offer
- "Always cheaper+"
Enea introduces new attractive products
Initiatives completed in Q1 2015
22. Enea Group invests and grows for Customers
22
In 2015 Enea Group implements next initiatives
Growth in the value of Enea Group
• Introduction of new bundle products
• Launching sales within GDA-C
in the whole of Poland
• Completion of the central billing
system implementation
• Launching new channels of Customer
Service - e-CSC, e-Invoice
• Launching the e-commerce platform
• CSC network optimisation
• Opening new CSCs
• Developing origination
product operations
• Entry into foreign energy
markets - EEX and EPEX SPOT
• Developing prop-trading
operations
• Integration of the sales and
hedging portfolio management
• Dynamic development
of gaseous fuel sales
• Continuation of the construction
of the unit No. 11
• Modernisation of generating units
• Construction of installations
limiting emissions of SO2, NOx
and dust
• Developing and modernising
the distribution network
• Management Information Model
• Further non-core companies
restructuring
Key initiatives planned for 2015
23. Enea Group is changing for Customers
Q1 2015
IR contact: gielda@enea.pl
25. Additional information
Attachment No. 1 – Lower first contribution margin charged the results of the segment of trade in Q1 2015
25
-27.4
4.2
12.0
61.1
49.9
0
10
20
30
40
50
60
70
EBITDA Q1 2014 First contribution margin Cost of sales Other factors EBITDA Q1 2015
[PLN mln]
Trade – EBITDA Q1 2015 bridge
Growth
Drop
26. Additional information
Attachment No. 2 – High base Q1 2014 (settlement of the purchase of electricity for covering the book-tax
difference relating to 2013) and growth in the costs of legal regulations under grid assets affected lower
EBITDA on distribution yoy
26
-13.3
-12.2
6.1
20.3
-20.6
292.5
272.8
0
50
100
150
200
250
300
350
EBITDA Q1 2014 2nd contribution
margin
Revenue - non-
licenced activity
Operating costs Other operating
activity
Other companies EBITDA Q1 2015
[PLN mln]
Distribution – EBITDA Q1 2015 bridge
Growth
Drop
27. Additional information
Attachment No. 3 - Higher margin on trade, balancing market and margin on generation and higher
revenue in the area of heat affected higher EBITDA in the segment of generation in Q1 2015
27
44.0
18.7
-10.0
123.7
176.4
0
20
40
60
80
100
120
140
160
180
200
EBITDA Q1 2014 Segment of
System Power Plants
Segment of Heat Segment of RES EBITDA Q1 2015
[PLN mln]
Generation – EBITDA Q1 2015 bridge
Growth
Drop