Locked content PGE with Q4 loss. PLN 2.64 bln profit for 2017

WSE-listed, state-controlled power utility PGE had a PLN 2.64 billion net profit in 2017, according to the company’s preliminary results. In Q4 alone, PGE had PLN 319 million loss. EBITDA amounted to PLN 7.6 billion last year, while in Q4 it stood at PLN 1.49 billion, down by 42 percent y/y due to a...

Locked content Energy market to be consolidated?

According to the Energy Minister Krzysztof Tchórzewski, the government is mulling further consolidating power companies it controls, however he claimed that he is not an instigator of such discussions. “Various discussions are being conducted, including this subject, but such ideas are not inspired ...

Locked content PGE announces tender offer for Kogeneracja shares

WSE-listed power group PGE announced a tender offer for 2.38 mln shares in its cogeneration unit Kogeneracja for PLN 81.8 apiece. After acquiring the Polish assets of EDF, which included Kogeneracja, PGE owned 50 percent plus one share in the cogeneration unit. After the tender, it plans to own 66 p...

Locked content PGE to book PLN 807 mln in impairments

WSE-listed power utility PGE will book PLN 897 million in impairments on its conventional and renewable generation assets in its financial report for last year, the company said in a market filing. The write-downs include PLN 473 million for its power plant in Szczecin and PLN 110 million for select...

Locked content PGE to sell energy on Facebook

WSE-listed utility PGE announced that it will sell energy and heat to its users through Facebook. “PGE has launched a special digital tool for Facebook users.The chatbot’s task is to quickly and efficiently identify the needs of current and potential PGE customers based on the responses they p...

Locked content PGE to announce tender offer for 66% stake in Kogeneracja

WSE-listed power utility PGE will announce a tender offer in order to reach 66 percent stake in Kogeneracja, the company said in a market filing. This is one of the conditions set up by antitrust watchdog UOKiK, after PGE acquired Polish assets of the French utility EDF. It was ordered to increase i...

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 PGE confirms Q3 profit

WSE-listed, state-controlled power utility PGE confirmed its previous estimates of PLN 1.46 billion net profit in Q3. The result is 123 percent better than last years’. EBITDA was likewise confirmed at PLN 2.66 billion, up by 62.1 percent y/y. The result was boosted by a one-off set of strande...