Energa net profits drop by 98% in Q1 y/y

Power utility Energa recorded a net profit of PLN 8 million in Q1 2016, compared with PLN 352 million y/y in Q1 2015. The company’s operating profit amounted to PLN 106 million, versus PLN 457 million a year before. Energa’s consolidated sales revenue totaled PLN 2.6 billion, compared with PLN 2.9 billion in Q1 2015. Energa's EBITDA fell to PLN 645 million in comparison with PLN 691 million a year earlier. The company has been listed on the WSE since 2013.