ZE PAK 2017 net profit down 26.4% y/y

Fourth largest electricity producer in Poland ZE PAK recorded a drop of 26.4 percent y/y in net profit to PLN 184 million in 2017, the company stated. The group’s EBITDA decreased by 13.8 percent y/y to PLN 512 million, while consolidated revenue came in at PLN 2.44 billion (9.69 percent lower than in 2016). The company’s net profit was PLN 79 million lower due to a one-off event, the firm said. ZE PAK produced 8.39 TWh of electricity (down 9.1 percent y/y), and sold PLN 11.76 TWh (a drop of 12.69 percent y/y).