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Preliminary operating and sales data for H1 2019

Specification Accrued since the beginning of the year 
H1 2019 H1 2018 Dynamics (%)
Net generation of electricity in PGE Group*, including: 29,50 TWh
32,92 TWh
-10%
- net generation from lignite.  17,06 TWh
19,29 TWh
-12%
Volume of retail sales to final off-takers.   21,89 TWh
20,73 TWh
+6%
Volume of electricity distribution. 18,13 TWh
17,99 TWh
+1%

Disclaimer: the above figures are estimated and were not audited.

Key financial indicators of PGE Capital Group

FY’11 FY’12 FY’13 FY’14 FY’15 FY’16 FY’17 FY'18
EBITDA margin
24%
24%
27%
29%
29%
26%
33%
25%
EBIT margin 15% 14% 16% 18% -13% 13% 15% 10%
Net margin
18%
12%
13%
13%
-11%
9%
11%
6%
Return on equity (ROE)
14%
10%
10%
9%
-7%
6%
6%
3%
Return on assets (ROA) 9%
7%
7%
6%
-5%
4%
4%
2%
Current ratio
1.38
1.57
1.67
1.94
1.37
1.59
1.06
0.73
Quick ratio
1.25
1.26
1.45
1.63
1.11
1.38
0.85
0.51
Debt ratio
0.30
0.28
0.28
0.32
0.34
0.37
0.36
0.37
Debt to equity
0.43
0.38
0.40
0.48
0.52
0.58
0.56
0.59
Debtor's days
25
25
28
33
34
37
49
47
Net debt (net cash) /EBITDA)
-0.61
-0.34
-0.37
-0.13
0.32
0.69
0.99
1.51

 

(1) ROE was computed as a quotient of net profit divided by end of year equity less net profit.

(2) ROA was computed as a quotient of net profit divided by end of year total assets less net profit.

(3) Current ratio was computed as a quotient of current assets divided by short term liabilities.

(4) Quick ratio was computed as a quotient of current assets less inventory divided by short term liabilities.

(5) Debtor days were computed based on formula:

(365 days * average trade receivables)/sales revenues, where average trade receivables mean arithmetic average of beginning of the year and end of year figures and each times involves gross value (i.e. before receivables impairments).

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