Top news from Polish politics, economy, business & financial markets - 17:00
Following is a digest of the day's top news as compiled by PAP Market Insider.
BUSINESS & EQUITY MARKET NEWS
POWER / ENEA - Listed power group Enea plans its capital expenditure in 2025 to reach PLN 7.94 billion (EUR 1.9 bln) against PLN 3.4 billion (EUR 793.9 mln) of expenditure completed in 2024, the company said in its annual report.
TMT / CYFROWY POLSAT - Listed TMT group Cyfrowy Polsat posted PLN 780.9 million (EUR 182.3 mln) in the fourth quarter EBITDA, a decrease of 7.5 percent year-on-year, the company's earnings report showed. PAP consensus for EBITDA was PLN 772.6 million (EUR 180.4 mln).
BANKING, RATINGS / MOODY'S, mBANK - Moody's Ratings has today upgraded listed lender mBank's long-term deposit ratings to A3 from Baa1 and changed the outlook to stable from positive, the agency wrote in a statement.
RAILWAY, LOANS / PKP PLK, EIB - The European Investment Bank offers Poland's railway infrastructure operator PKP PLK EUR 550 million in financing for, among other things, the modernisation of the 160-kilometres Skierniewice-Pilawa-Lukow railway section, the bank said on its website. The loan must still be approved by the bank's board of directors.
BANKING / MILLENNIUM - Listed lender Bank Millennium estimates the provision for legal risk related to foreign currency mortgage loans in the first quarter of 2025 at PLN 411 million (EUR 95.9 mln), the bank said in a market filing.
BGK, BONDS - Poland's state development bank BGK sold PLN 637.61 million (EUR 149.5 mln) in four series of FPC fund bonds (FPC0229, FPC0231, FPC0332 and FPC0235) at an auction on Thursday, the bank said in a statement.
CONSTRUCTION / BUDIMEX - Listed builder Budimex's management board has recommended to the group's shareholders to decide on the payment of dividend in the amount of PLN 25.43 (EUR 5.94) gross per share, Budimex said in a market filing. In total, the dividend paid from 2024 net profit will likely amount to over PLN 649.23 million (EUR 151.6 mln).
BGK, BONDS - Poland's state development bank BGK sold total of PLN 65 million (EUR 16.8 mln) in three series of FPC fund bonds (FPC0229, FPC0332 and FPC0235) at the top-up auction on Thursday, the bank said in a statement. The bonds were issued for the benefit of the Covid-19 Response Fund.
TMT / CYFROWY POLSAT - Listed TMT group Cyfrowy Polsat has decided to uphold the goals of the 2023+ strategy, which assumes, among other things, PLN 500 million (EUR 129.4 mln) of implementable EBITDA from the green energy segment in 2026, deputy CEO Maciej Stec told a videoconference. Due to the strategy that is coming to an end, there will be a gentle reduction in capital expenditure in the future quarters.
INSURANCE, BANKING - In 2024, gross premiums in Poland's bancassurance channel amounted to PLN 6.32 billion (EUR 1.64 bln), up 3.5 percent year on year, according to data on the bancassurance market from the Polish Chamber of Insurance (PIU).
ROAD INFRASTRUCTURE / STALEXPORT AUTOSTRADY - Listed road infrastructure company Stalexport Autostrady's shareholders have decided to pay out dividend of nearly PLN 155.78 million (EUR 36.5 mln) from its 2024 profit, which translates into PLN 0.63 (EUR 0.15) per share, according to the resolutions adopted by the ordinary general meeting.
FINANCIAL SERVICE / VOTUM - Listed legal advisor group Votum's management board has adopted a dividend policy for 2025-2027 and will recommend PLN 60 million (EUR 14 mln) to be earmarked each year covered by the policy for the payment of dividends, which translates into PLN 5 (EUR 1.17) per share, the company said in a market filing.
E-COMMERCE / ANSWEAR - Listed e-commerce group Answear has no plans to expand into new markets for now, wants to return to higher profitability sooner, group representatives told a meeting with investors.
AIR TRANSPORT / PLL LOT - Poland's Ministry of Infrastructure wants to settle the tender to supply country's flag airline PLL LOT with new aircraft by the middle of 2025, minister Dariusz Klimczak told an interview with Radio Zet. According to Klimczak, LOT seeks to buy from 40 to more than 70 aircraft.
WSE - The Warsaw Stock Exchange has announced an end of Exceptional Market Conditions at around 12:15 local time on Thursday, the WSE operator GPW said in a statement.
POWER / ENEA - Listed power group Enea has 1.29 GW of renewable energy projects in the pipeline for 2025-26, company representatives said. The group is planning further acquisitions in this area.
INDUSTRIAL REAL ESTATE / PANATTONI - Industrial real estate developer Panattoni has secured EUR 26 million in financing from listed lender mBank, Panattoni said in a press release. The loan will support the Panattoni Park Cracow East V logistics complex.
RAILWAY, INFRASTRUCTURE / PKP PLK - Poland's railway infrastructure operator PKP PLK has signed a contract with Capital City Development Authority for the construction of a tunnel under the tracks in the Wesola district of Warsaw, PKP PLK said in a press release. The cost of the investment is approximately PLN 73 million (EUR 18.9 mln) net.
REAL ESTATE / ATAL - Listed housing developer Atal has launched the sales of 169 flats and three commercial units as part of the second phase of the Niebieski Bursztyn development in Reda, northern Poland, the developer said in a market filing.
CONSTRUCTION, REAL ESTATE / UNIDEVELOPMENT - Listed builder Unibep's real estate unit, Unidevelopment group, sold 50 residential units in the first quarter of 2025, two of which were flats in development projects with third parties, Unibep said in a market filing. In the first quarter, the group carried out sales in nine investments.
REAL ESTATE / RONSON - Listed real estate developer Ronson Development sold 96 residential units in the first quarter of 2024 and handed over 300 flats in the period, according to company's preliminary figures.
REGON, ENTERPRISES - Poland has added 33,502 enterprises to its statistical register REGON in March, up by 20.0 percent month on month, the stats office GUS reported.
FINANCIAL MARKETS
FX - The Polish zloty weakened at 4.268 against the euro on Thursday at 16:45 local time.
ECONOMIC & FINANCIAL NEWS
EU, US, TARIFFS - EU had decided to put countermeasures on the US tariffs on hold for 90 days after Donald Trump announced a 90-day pause for nations hit by higher US tariffs, president of the EC Ursula von der Leyen announced.
INTEREST RATES - Any interest rate cut at present, given Poland's central bank NBP March projection, would deviate from the central bank's mandate and harm the Polish economy, Poland's Monetary Policy Council member Joanna Tyrowicz told an interview with Dziennik Gazeta Prawna daily.
POLITICAL & GOVERNMENT NEWS
----------------------------------------
nl/ ao/
