Polish utility Enea's Q4 core profit drops on lower electricity prices

Enea SA

10/04/2025 05:12

GDANSK, April 10 (Reuters) -
Polish utility Enea ENAE.WA reported a 48.6% drop in fourth-quarter EBITDA to 1.47 billion zlotys ($380.7 million) late on Wednesday, hit by lower electricity prices and reduced sales volumes.

The result was in line with the company's preliminary estimates reported in early March.

WHY IT'S IMPORTANT

Enea, Poland’s third-largest power utility by market value, is under pressure as falling profitability in its coal-fired fleet coincides with a growing shift to renewables.

Coal accounted for about 57.1% of Poland’s electricity generation in 2024, down as the country works to cut its dependence, according to energy think tank Forum Energii.

CONTEXT

Enea said the decline in core profit was primarily due to lower revenues from electricity sales caused by decreased average sales prices and volumes.

Additionally, higher costs related to carbon dioxide emission allowances also impacted its earnings.

BY THE NUMBERS

Enea's fourth-quarter net loss widened to 1.86 billion zlotys from a loss of 1.26 billion zlotys a year earlier.

Fourth-quarter sales revenue fell 28.3% year-on-year to 8.81 billion zlotys.

($1 = 3.8613 zlotys)

 (Reporting by Rafal W. Nowak)

 ((RafalWojciech.Nowak@thomsonreuters.com; +48 58 769 66 63;))