Polenergia revenues up 40%; shares up 3x in 12 months

Polenergia, a WSE-listed Polish energy group, achieved sales revenues in Q1 of nearly 637 million PLN compared to 459 million PLN in 2020 Q1, and EBITDA of almost 76 million PLN compared to over 94 million PLN.


The beginning of 2021 was marked by a significant increase in sales revenues of the Polenergia group. The result achieved in the first quarter of 2021 at the level of PLN 636.9 million is PLN 177.9 million higher than that achieved in the corresponding period of the previous year.

This is the effect, as the company explains, of higher by PLN 207.9 million revenues in the trading and sales segment, which was partially offset by lower revenues by PLN 26.6 million in the onshore wind farms and the gas and clean fuels segment.

The EBITDA of the trading and sales segment was higher by PLN 3.2 million, amounting to almost PLN 9 million, thanks to the better result on the group’s generation assets and partial implementation of the new Strategy.
In the first quarter of 2021, the adjusted net profit turned out to be lower by PLN 16.8 million compared to the previous year and amounted to PLN 34.3 million

The event of the last weeks, which opens a new chapter in the history of Polenergia, is the decision of the President of the ERO granting the OWF Bałtyk II and OWF Bałtyk III offshore wind farm projects with a total capacity of 1,440 MW the right to cover the negative balance for electricity generated and fed into the grid.

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