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The Management Board of PGE Polska Grupa Energetyczna has decided to terminate projects and programmes planned for the years 2020-2030 that do not bring expected benefits for the PGE Group. The total value of these undertakings exceeds the amount of PLN 1 billion.

After a review of its sponsorship projects the PGE Group has decided to reduce the related expenditures by half, or nearly PLN 27 million in 2020.

The Management Board of PGE Polska Grupa Energetyczna decided to close projects with unsatisfactory rate of return, in particular those not directly related to the core business of the Group, and obliged all PGE Group companies to optimization and rationalization activities.

PGE Group's EBITDA with strong support from free EUA allowances. Net profit under pressure from impairment losses in Conventional Generation segment.

• PGE's EBITDA in 2019 reached PLN 7.1 billion, up 12% year-on-year.
• Adjusted net profit reached 2.1 billion, up 17% year-on-year.
• In 2019, PGE produced 58.3 TWh of electricity and sold 50.3 PJ of heat.
• Year-on-year electricity production from low-emission gas fuel increased by 9% to 4.5 TWh, while wind farms generated 20% more electricity, reaching 1.27 TWh.
• Expenditures on investments increased by 2% year-on-year in the reported period to PLN 7 billion.

Wojciech Dąbrowski, President of the Management Board of PGE Polska Grupa Energetyczna, was appointed to the position of the President of the Management Board of the Polish Electricity Association (PKEE).