Tauron's Q1 net profits above expectations

Poland's second largest electricity distributor Tauron Polska Energia reported a consolidated net profit of PLN 502 million in Q1 2015, an increase of 27 percent y/y, thanks to one-off tax return and savings. The company's operating profit came in at PLN 585.57 million in the first quarter of the year, while in Q1 2014 it stood at PLN 632.43 million. Sales fell by 2.7 percent to PLN 4.754 billion in Q1 2015, while EBITDA amounted to PLN 1.02 billion.