• Good results strenghten PGE Group’s position as energy and heat market leader


    • The Group’s series of good operating results continued in the first half of 2018 with solid EBITDA of over PLN 3.7 billion (up by 7% y/y) and PLN 1.3 billion in net profit
    • The Group is continuing to integrate the assets held by PGE Energia Ciepła and is consistently implementing its District Heating Strategy, announced in December 2017, concluding additional cooperation agreements with local authorities intended to combat smog
    • Consolidation of the assets purchased from EDF contributed to the good operating results, with electricity output reaching 32.9 TWh (up by 18% y/y), retail electricity sales of 20.7 TWh (up by 5% y/y) and sales of heat at 29.0 PJ (up by 174% y/y)
    • The acquisition of new assets also had an overall contribution of PLN 579 million in recurring EBITDA
    • The Group increased its hard coal-based output by 97%, gas-based output by 53% and pumped-storage output by 11%. Wind farm output fell by 15% due to adverse weather conditions
  • PGE Group announces tender offer for 100% of Polenergia shares


    • PGE Polska Grupa Energetyczna is interested in purchasing all of the shares of WSE-listed energy group Polenergia.
    • The acquisition of this vertically integrated enterprise is aligned with PGE Group’s business strategy as it presents an opportunity for development and growth in all of its operating segments.
    • Polenergia generates electricity, including from renewable energy sources, produces heat in an ecological cogeneration process based on gas fuel as well as distributes and trades electricity.
    • The acquisition of Polenergia’s assets would lead to a reduction in PGE Group’s average emissions, mainly due to expansion of its wind capacity portfolio.
    • Polenergia’s on-going development projects complement the activities already being undertaken by PGE Group. These include electromobility, energy storage and photovoltaics.
  • PGE Group - good financial and operating results after first quarter of 2018


    • PGE Group’s operating results continue trending up, with solid 14% growth y/y in EBITDA to over PLN 2.2 billion
    • PGE posted PLN 1 billion in net profit, up by 2% on the previous year
    • The Group is integrating assets held by PGE Energia Ciepła and is consistently implementing its District Heating Strategy announced in December 2017
    • Consolidation of assets drove very good operating results – net electricity generation reached 17.7 TWh (18% growth y/y), electricity sales 10.5 TWh (+5% y/y) and district heating sales 23.5 PJ (+198% y/y)
  • PGE in transition. Good financial and operating results in 2017, in line with expectations.


    • PGE Group reinforced its top position on the Polish power market and became the largest supplier of district heating.
    • The Group’s total electricity output reached 57 TWh, up by 6% from 2016, with gas-fired generation up by 23%. PGE Group’s assets also produced approx. 25 million GJ of heat.
    • The Group is continuing to post good financial results, generating PLN 3.5 billion in net profit and over PLN 7.6 billion in EBITDA, up by 4% from 2016.
    • Investment expenditures reached PLN 6.8 billion in 2017. New units in Opole are about 90% complete and the new unit in Turów is at approx. 50%.
    • PGE Group is analysing the construction of three gas-fired units with total capacity of 1500 MW.
    • A 1000 MW offshore wind farm project may be built half way through the next decade.
    • Expenditures on adaptation to EU environmental standards, i.e. BAT conclusions, for the entire PGE Group, including new assets, are expected to reach approx. PLN 1.9 billion. This is less than had been expected.
  • PGE Group is shaping the energy of tomorrow


    The market leader is placing clients and the environment at the centre of its district heating strategy

    • PGE will lead environmental changes in the sector, actively supporting the battle for clean air in Polish cities.
    • PGE Group is announcing its District Heating Strategy and intends to cement its position as the leading supplier of competitively priced heat.
    • It plans to manage district heating networks in at least two-thirds of PGE Energia Ciepła’s existing locations by 2023 and build 1000 MW of new cogeneration capacities by 2030, including in new locations.
    • A key business objective in the Strategy is to generate approx. PLN 250 million of additional EBITDA in 2023 and approx. PLN 1 billion from 2030 onwards.
    • Low-emission energy sources are expected to account for 50% of PGE Energia Ciepła’s fuel mix by 2030.
    • PGE will also introduce a new product and service offering tailored to client needs, utilising the innovation potential of district heating.
    • The development of the district heating segment will enhance the security of district heating supplies to millions of Polish homes and will contribute to the economic development of the country.
    District Heating Strategy of PGE Group