PGE estimates PLN 3 bln loss

Poland's largest utility PGE expects to post some PLN 8.2 billion EBITDA and an attributable net loss of ca. PLN 3 bln in FY 2015, while the net result adjusted for impairment losses is seen at a positve PLN 4.3 billion, the company said in a market filing with preliminary numbers. The EBITDA estimate includes non-cash one-offs: a boost of some PLN 546 mln on compensations for the termination of long-term contracts and a ca. PLN 171 mln release of a number of provisions, the filing read. Attributable net profit adjusted for impairments is seen at ca. PLN 4.3 bln, while the reported net result will be a loss of some PLN 3 bln. Impairment losses for FY 2015 will not be significantly different from the value recognized after 9 months of 2015, the company said. PGE will publish its 2015 report on February 16.