In Q3 2013 consolidated sales revenues amounted to PLN 7.48bn as compared to PLN 6.93bn last year (a rise of 8%). Quarterly EBITDA reached PLN 2.27bn as compared to PLN 2.14bn in the same period of 2012 (an increase of 6%). Net profit remained at the same level of PLN 1.25bn. Taking into consideration the very demanding market environment, these are very good results. For the next time PGE's quarterly net profit is one of the highest among those reported by Polish companies listed on the Warsaw Stock Exchange.
In Q3 2013, PGE generated 14.5 TWh of electricity, which constitutes a 6% increase over the corresponding last year's result. Higher generation volumes result, among other things, from progressing economic recovery, but also from the more effective management of the PGE Group's power generation assets.
For Q3 2013, PGE reports 9.5 TWh of power sold to end users. This was also an impressive 23% improvement over the result achieved in the same period of 2012. For another quarter in a row PGE managed to increase its sales of electricity to end users at the expense of its competitors.
After the commissioning of another wind farm the Company's wind-based generation capacities rose to 283 MW. Thus, PGE remains Poland's largest producer of power from this renewable energy resource. EBITDA margin exceeded 30%, which is one of the best results among large European power utilities. It should be underlined that PGE remains the least indebted large European power utility, which, in combination with a strong financial standing, constitutes good news for shareholders implementing their long-term dividend policy.
The detailed Q3 financial results of the PGE Capital Group are available at Consolidated quarterly report for Q3 2013.
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The PGE Capital Group is the largest company in Poland's energy sector with respect to revenues and generated earnings. Thanks to the combination of its own fuel resources and power generation capacities as well as the possession of its own distribution networks, PGE guarantees a safe and reliable supply of electricity to over five million customers. PGE CG's business activities comprise the mining of lignite, the generation of electricity and heat as well as the wholesale trade, distribution and retail sales of electricity. Within the PGE Capital Group, the integration of the activities of the particular segments is the responsibility of the following companies: PGE Polska Grupa Energetyczna S.A., PGE Górnictwo i Energetyka Konwencjonalna S.A., PGE Energia Odnawialna S.A., PGE Energia Jądrowa S.A., PGE Dystrybucja S.A. and PGE Obrót S.A. PGE CG is the undisputed leader in terms of installed capacities and volumes of generated electricity. The PGE Capital Group has a 38% share in Poland's power generation market and a 26% share in the electricity distribution market.