Profil:
PGE SAPGE power assumes EBITDA growth to PLN 30 bln in 2035
Listed power utility PGE assumes an EBITDA growth from PLN 11 billion (EUR 2.6 bln) in 2024 to PLN 17 billion (EUR 4 bln) in 2030 and PLN 30 billion (EUR 7 bln) in 2035; the return to regular dividend payments is foreseen after reaching recurring net profit, the group said in a market filing on the strategy by 2035.
"(...) the PGE group assumes change of operating profit structure in such a way that - beside regulated segments and energy from RES - new segments of flexible gas capacities and energy storage facilities will have a larger contribution what will translate into EBITDA growth from PLN 11 bln in 2024 to PLN 17 bln in 2030 and PLN 30 bln in 2035," PGE said in the market filing on the new strategy.
According to plans and assumptions, the projected ratio of net financial debt to EBITDA will allow for meeting the covenants in current financing agreements.
The strategy assumes the return to regular dividend payments after reaching recurring net profit, perspective of positive free cash flows for a minimum of 2 years, maintaining investment grade rating and lack of one-offs with significant impact on cash flow.
ao/