Tauron plans huge investments, profit up in Q4

Major Polish power utility Tauron recorded a consolidated net profit of PLN 132.19 million in Q4 2014, compared with PLN 92.02 million in Q4 2013, the company said on Friday. The company’s EBITDA stood at PLN 711.79 million, versus PLN 660.77 million in the previous year. In 2014, Tauron had a consolidated net profit of PLN 1.181 billion, compared with PLN 1.308 billion in 2013. The company’s sales revenue amounted to PLN 4.837 billion in Q4 2014, while in Q4 2013, it was PLN4.917 billion. Tauron’s investment expenditures reached more than PLN 3 billion in 2014, which is a decline of 18.3 percent year-on-year. In 2014-2023, the company plans to spend some PLN 37 billion on investments, of which PLN 29 billion will be invested until the end of 2020. Tauron has earmarked some PLN 4.5 billion this year.