Tauron changes its strategy for 2016-2020
23:02
Listed power group Tauron eyes reducing 2016-2020 capital expenditures (capex) to some PLN 18 billion versus earlier plans at PLN 20.2 billion, the company said in a market filing.
"The largest capex cut of PLN 1.5 billion will come from mothballing the Lagisza project, PLN 400 million will be saved on capex in distribution, PLN 300 million in other generation projects and PLN 100 million in mining," the document read.
Apart from that, the company confirmed terms of a PLN 1.3 billion cost cutting strategy and said that new strategic initiatives could render PLN 1.2 billion in added earnings as the group seeks PLN 4 billion in EBITDA by 2020 on way to PLN 5 billion five years later.
Tauron believes its overall strategy will leave the group with added investment potential of above PLN 6 billion from 2020-2025, management said in its presentation.
