Estimated selected financial and operating data for the first quarter of 2022

The Management Board of PGE Polska Grupa Energetyczna S.A. (“PGE”) publishes initial selected consolidated financial and operating data for the first quarter of 2022.

According to the initial estimates net electricity production at PGE generating units in Q1’ 2022 amounted to 17.3 TWh, distribution volume arrived at 9.8 TWh and sales to final off-takers came out at 9.1 TWh. Heat sales volume amounted to 21.3 PJ.

Consolidated recurring EBITDA for Q1’ 2022 amounted to approximately PLN 2 592m, including:

Conventional Generation segment PLN 438m,

District Heating segment PLN 201m,

Distribution segment PLN 798m,

Supply segment PLN 569m,

Renewables segment PLN 500m.

In addition, the results for Q1’ 2022 were influenced by one-off event (the non-cash item of release of provision for prosumers) increasing EBITDA result by approx. PLN 19m.

In effect, consolidated reported EBITDA for Q1’ 2022 amounted to approximately PLN 2 611m, including:

Conventional Generation segment PLN 438m,

District Heating segment PLN 201m,

Distribution segment PLN 798m,

Supply segment PLN 593m,

Renewables segment PLN 500m.

Consolidated net profit attributable to equity holders of the parent company amounted to approximately PLN 1 022m. CAPEX amounted to PLN 895m. Estimated net debt amounted to approximately PLN 4 192m as at March 31, 2022.

Average electricity wholesale price realized in Q1’ 2022 by:

- Conventional Generation segment amounted to PLN 457.0 per MWh,

- Conventional Generation and District Heating segments amounted to PLN 443.4 per MWh.

At the same time, the average cost of CO2 emission rights for both segments amounted to PLN 278.0 per ton in Q1’ 2022.

Disclaimer: Presented values are estimated and may change. Consolidated financial statements of the PGE Group are still in the preparation process. The consolidated report for Q1’ 2022 is planned to be published on May 24, 2022.