Estimated selected financial data for the first quarter of 2016 and information on non-cash one-off items affecting the consolidated results of PGE Group for the first quarter of 2016
24/2016
24.04.2016 22:00
Art. 56 section 1 p. 1 of Act on Public Offering – confidential information
Contents of the report
The Management Board of PGE Polska Grupa Energetyczna S.A. (“PGE”) discloses initial consolidated financial results for the first quarter of 2016.
According to preliminary estimates, consolidated EBITDA in the first quarter of 2016 will amount to approx. PLN 1.8 billion while net profit attributable to equity holders of the parent company will amount to approx. PLN 0.9 billion.
The above estimates include significant non-cash one-off items that were recognized in the first quarter of 2016:
- Revenues due to termination of long term contracts for sale of capacity and electricity (so-called „LTC compensations”) in amount of approx. PLN 278 million (including PLN 148 million resulting from court verdicts in cases relating to stranded costs and costs arising in gas-fired units), accordingly increasing reported EBITDA.
Disclaimer: The data presented above are estimated and may change.
The quarterly consolidated report for the first quarter of 2016 shall be published on May 11, 2016.
Legal ground: Art. 56 section 1 point 1 of the Act on public offering, conditions governing the introduction of financial instruments to organised trading, and public companies (Dziennik Ustaw 2013, item 1382, as amended).
According to preliminary estimates, consolidated EBITDA in the first quarter of 2016 will amount to approx. PLN 1.8 billion while net profit attributable to equity holders of the parent company will amount to approx. PLN 0.9 billion.
The above estimates include significant non-cash one-off items that were recognized in the first quarter of 2016:
- Revenues due to termination of long term contracts for sale of capacity and electricity (so-called „LTC compensations”) in amount of approx. PLN 278 million (including PLN 148 million resulting from court verdicts in cases relating to stranded costs and costs arising in gas-fired units), accordingly increasing reported EBITDA.
Disclaimer: The data presented above are estimated and may change.
The quarterly consolidated report for the first quarter of 2016 shall be published on May 11, 2016.
Legal ground: Art. 56 section 1 point 1 of the Act on public offering, conditions governing the introduction of financial instruments to organised trading, and public companies (Dziennik Ustaw 2013, item 1382, as amended).
Signatures of persons representing the company
| Date | Name | Position and function |
|---|---|---|
| 2016-04-25 | Emil Wojtowicz | Vice-President of the Management Board |
| 2016-04-25 | Marek Pastuszko | Vice-President of the Management Board |