Enea confirms PLN 321 mln Q1 net profit

WSE-listed power utility Enea confirmed its preliminary Q1 financial results with PLN 321.2 million net profit (10.16 percent y/y growth), and PLN 666 million EBITDA (0.3 percent y/y decline) Earnings fell in the core segment of distribution on account of costs, a decline offset by strong volumes in mining and a surge in first margin in the segment of trade. Enea sold 4.714 GWh of electricity to end-clients in Q1, a 5.2 percent y/y gain visible exclusively amongst business clients while sales to households dropped.