Refile: Enea Q2 profit slumps on weaker mining, generation

Enea SA

26/08/2025 16:50

Corrects date in dateline

GDANSK, Aug 26 (Reuters) - Polish state-controlled utility Enea ENAE.WA on Wednesday reported a 31% fall in second-quarter net profit from a year ago, as weaker mining and conventional generation offset a stronger performance in distribution and retail.

WHY IT'S IMPORTANT

Enea, Poland's third-largest power utility by market value, is contending with the government's withdrawal from earlier coal spin-off plans.

This comes amid uncertain capacity payment rules after 2028, highlighting a broader industry challenge to manage the expense of coal operations while pursuing financial stability as renewables gain momentum.

CONTEXT

Poland is reducing its reliance on coal, which accounted for about 57.1% of the country's electricity generation in 2024, according to the energy policy think tank Forum Energii.

The utility said in May it plans to reintroduce dividend payouts by distributing 30% to 60% of its annual net profit to shareholders when its financial health permits.

BY THE NUMBERS

Enea's preliminary second-quarter net profit reached 874 million zlotys, above the 611 million zlotys expected by analysts polled by Reuters.

Earnings before interest, taxes, depreciation, and amortization (EBITDA) came in at 1.45 billion zlotys, while analysts polled by Reuters expected 1.27 billion zlotys.

WHAT'S NEXT

The utility is scheduled to release its full second-quarter results on September 8.

 (Reporting by Rafal Nowak and Marta Maciag; Editing by Matt Scuffham)

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