PGNiG Q4 net profit drops

WSE-listed gas giant PGNiG had PLN 430 million net profit in Q4, down from PLN 720 million profit a year ago, according to the company’s preliminary figures. Revenues amounted to PLN 10.97 billion, compared to PLN 10.15 billion last year, while the adjusted EBITDA stood at PLN 1.84 billion, slightly up from PLN 1.83 billion last year. For the whole 2017, PGNiG had PLN 2.9 billion net profit, up from PLN 2.35 billion in 2016, with revenues at PLN 35.86 billion (up from PLN 33.2 billion) and EBITDA at PLN 6.55 billion compared to PLN 5.97 billion in 2016. The company will release its final financial results on March 14.