PGE shares jump 10% on 'clearly strong' Q1 results

PGE Polska Grupa Energetyczna SA

16/05/2025 08:22

** Shares of Poland's biggest utility PGE PGE.WA rise around 10% after it reported strong preliminary Q1 results

** PGE expects to post a Q1 net profit of 2.42 billion zlotys ($638.94 million) and EBITDA of 4.31 billion zlotys

** Erste Securities analyst Petr Bartek says the numbers are "clearly strong", resulting from much lower hedged CO2 prices y/y, colder weather and low generation from renewable energy sources

** Bartek adds revenue from capacity and ancillary payments also exceeded expectations

($1 = 3.7875 zlotys)

 (Reporting by Julia Kotowska)

 ((julia.kotowska@thomsonreuters.com))