Estimated selected financial and operating data for the first quarter of 2025

The Management Board of PGE Polska Grupa Energetyczna S.A. (“PGE”) publishes initial selected consolidated financial and operating data for the first quarter of 2025.

Consolidated recurring EBITDA in the first quarter of 2025 amounted to approx. PLN 4.33 bn, including:

EBITDA of Renewables segment PLN 0.45 bn,

EBITDA of Gas-fired Generation segment PLN 0.09 bn,

EBITDA of Conventional Generation segment PLN 0.29 bn,

EBITDA of District Heating segment PLN 0.90 bn,

EBITDA of Distribution segment PLN 1.32 bn,

EBITDA of Energy Railway Services segment PLN 0.35 bn,

EBITDA of Supply segment PLN 0.77 bn,

EBITDA of Other Operations and consolidation adjustments PLN 0.17 bn.

The results for the first quarter of 2025 were influenced by one-off events decreasing reported EBITDA result by PLN 24 m. As a result consolidated reported EBITDA amounted to approx. PLN 4.31 bn, including PLN 0.74 bn in Supply segment (no differences in other segments).

The consolidated net profit attributable to equity holders of the parent company amounted to approx. PLN 2.42 bn, i.e. PLN 1.08 per share and the consolidated net profit attributable to equity holders of the parent company excluding impairment of property, plant and equipment, intangible assets and right-of-use assets amounted to approx. PLN 2.43 bn, i.e. PLN 1.08 per share.

Capital expenditures in the first quarter of 2025 amounted to approx. PLN 1.72 bn and estimated net debt amounted to approx. PLN 8.14 bn as at March 31, 2025, while estimated economic net financial debt (including future payment for CO2 allowances) amounted to approx. PLN 16.68 bn.

According to the initial estimates following volumes were achieved in the first quarter of 2025:

- net electricity production: 16.1 TWh,

- electricity distribution: 10.8 TWh,

- electricity sales to final off-takers: 8.6 TWh,

- heat sales: 20.9 PJ.

Average electricity wholesale price realized in the first quarter of 2025 amounted to, respectively:

- PLN 500 per MWh in Conventional Generation segment,

- PLN 607 per MWh in Gas-fired Generation segment,

- PLN 482 per MWh in District Heating segment,

- PLN 504 per MWh in Conventional Generation, Gas-fired Generation and District Heating segments jointly.

At the same time, the average cost of CO2 emission rights for above mentioned segments related to electricity generation amounted to PLN 282 per MWh.

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 the first quarter of 2025 is planned to be published on May 27, 2025.