Locked content PGE completes EDF assets takeover

WSE-listed power utility finalized the purchase of Polish assets of French utility EDF for PLN 4.27 billion. The price includes PLN 2.45 billion in equity, the intra-group debt of PLN 1.68 billion, as well as interest. The price is slightly lower than the PLN 4.51 billion price tag announced back in...

Locked content PGNiG Q3 net profit inches up

WSE-listed gas giant PGNiG had PLN 367 million attributable net profit in Q3, up from PLN 358 million loss a year ago. Revenues amounted to PLN 6.07 billion, compared to PLN 5.7 billion last year, while EBITDA stood to PLN 1.07 billion, down from PLN 1.13 billion last year. Gas purchase costs were u...

Locked content PKO BP Q3 net profit grows

WSE-listed, state-controlled lender PKO BP had a PLN 902 million consolidated net profit a 17.3 percent y/y growth. Net interest income amounted to PLN 2.19 billion vs. PLN 1.97 billion a year earlier. Net fee and commission income amounted to PLN 766 million compared to PLN 686 million last year. A...

Locked content Poland joins the EU defense pact

Poland, along with 22 other EU member states has signed the joint notification on the Permanent Structured Cooperation (PESCO) defense pact. The agreement will allow countries to cooperate more closely on security operations and building up military capability. “What we can do together, we can do be...

Locked content Eurocash Q3 profit below consensus

WSE-listed FMCG retailer had PLN 35.7 million attributable net profit in Q3 2017, 39.1 percent lower y/y, and below the PLN 60.6 million expectations. Group sales were up 7.4 percent y/y to PLN 6.18 billion, mostly due to consolidated sales from acquired companies such as EKO Holding and PDA. Q3 EBI...

Locked content Agora with smaller Q3 loss

WSE-listed media group Agora recorded a consolidated net loss of PLN 2.2 million in Q3, against PLN 14.5 million loss a year earlier, the company said in its report. Revenues amounted to PLN 251.4 million, compared to PLN 273.4 million a year earlier. EBIT loss was PLN 9.1 million, compared to a PLN...

Locked content Fuel prices soar

Average fuel and diesel prices grew by PLN 0.11, while LPG prices inched up by PLN 0.03 last week, according to BM Reflex, a fuel branch consultancy company. Currently, gasoline sells at PLN 4.73/liter, diesel at PLN 4.61/liter and LPG at PLN 2.18. This week, prices should continue to grow, as to-da...

Locked content Tauron picks Torpol for PLN 367 mln contract

WSE-listed railway infrastructure builder Torpol won the tender organized by WSE-listed utility Tauron for design, construction, and launch of a rail system the new power block at the Jaworzno plant. The value of the deal is PLN 367.28 million net (PLN 451.75 million gross), and Torpol was the only ...

Locked content PiS support slightly drops – Kantar Public poll

According to the latest poll by Kantar Public, if elections took place now, 38 percent of Poles would vote for ruling Law and Justice (PiS), while 18 percent would vote for Civic Platform (PO). PiS support declined by 3 percent, while PO’s remained unchanged. Other parties that would get into ...