Polish utility Tauron's first-quarter net profit falls on weaker trading

Tauron Polska Energia SA

06/05/2026 17:17

May 6 (Reuters) - Polish state-controlled utility Tauron TPE.WA reported an over 13% drop in its preliminary first-quarter net profit on Wednesday, pressured by weaker results in its sales and trading segment.

Like its domestic peers, the company is increasingly reliant on its stable, regulated distribution business to drive profits as it faces pressure to fund a costly shift away from coal.

• Tauron's core profit declined 10.3% year-on-year to 2.09 billion zlotys ($580 million), dragged down by its sales and trading unit, which saw core profit drop 37.7% to 279 million zlotys

• The distribution segment remained the company's main profit driver despite its core profit falling over 3% year-on-year to 1.18 billion zlotys

• The company's heating segment's core profit improved to 205 million zlotys from 123 million zlotys a year ago

• Tauron increased its first-quarter capital expenditures by 7.1% to 1.15 billion zlotys, with the vast majority spent on new connections, grid modernization, and building wind and solar farms

• Poland's second-largest utility by market capitalisation plans to invest 100 billion zlotys by 2035 mainly to expand its power grid, renewable energy capacity and energy storage.

($1 = 3.6005 zlotys)

 (Reporting by Rafal Nowak in Gdansk; Editing by Shailesh Kuber)

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