Polish utility Tauron's full-year net profit falls 48% as revenues drop

Tauron Polska Energia SA

16/04/2025 07:40

GDANSK, April 15 (Reuters) - Polish power utility Tauron TPE.WA on Wednesday posted a 48% fall in its full-year net profit, mainly due to lower revenues from electricity sales.

The results were slightly below the company's preliminary figures published in March.

WHY IT'S IMPORTANT

Tauron, Poland’s second-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 use has declined as the country works to cut its dependence, according to energy think tank Forum Energii, accounting for about 57.1% of the nation's electricity generation in 2024.

BY THE NUMBERS

The company's net profit reached 585 million zlotys ($154.6 million) in 2024, down from 1.12 billion zlotys a year earlier.

Revenues fell 22% year-on-year to 32.54 billion zlotys, hurt by lower electricity sales. Tauron's retail electricity sales slipped to 26.7 terawatt hours from 30.75 TWh in 2023.

CONTEXT

In December Tauron unveiled a new strategy aimed at resuming dividend payments from 2029 and investing 100 billion zlotys by 2035, with a focus on modernizing distribution infrastructure and expanding renewable energy sources.

The company plans to decommission coal-fired units by 2030, aligning with Poland's efforts to cut carbon emissions and transition to cleaner energy.

($1 = 3.7832 zlotys)

 (Reporting by Rafal W. Nowak and Anna Banacka; Editing by Jan Harvey)

 ((Rafalwojciech.nowak@thomsonreuters.com; anna.banacka@thomsonreuters.com;))