Profil:
PGE SAPGE power estimates adj. EBITDA at PLN 2.46 bln in Q3 2024, above market expectations
Listed power utility PGE estimates it had posted an adjusted EBITDA of PLN 2.46 billion (EUR 566.5 mln) in the third quarter of 2024 and net profit at around PLN 730 million (EUR 168.1 mln), the company said in a press release. The PAP Biznes consensus was for an EBITDA of PLN 2.19 billion (EUR 504.4 mln) and a net take of PLN 711 million (EUR 163.7 mln).
PGE's capital expenditures in the third quarter amounted to approximately PLN 2.58 billion (EUR 594.2 mln).
Estimated net debt as of September 30 was around PLN 4.43 billion (EUR 1 bln), with estimated economic net debt (including future payments for CO2 emission allowances) of about PLN 19.02 billion (EUR 4.4 bln).
"The results in the third quarter of 2024 were affected by non-recurring events increasing the reported EBITDA by a total of approximately PLN 4 million," PGE said in the press release.
"The result of the period was mainly affected by a non-cash change in the value of the reclamation provision, which reduced the EBITDA result by PLN 0.41 billion, and an adjustment of electricity compensation for previous years, which increased the EBITDA result by PLN 0.45 billion," it added.
pr/ ao/
