REG - Tauron Polska - TAURON Preliminary results for 2024 and Q4 2024

Tauron Polska Energia SAAnnouncement

20/03/2025 07:00

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RNS Number : 3803B  Tauron Polska Energia S.A.  19 March 2025

Estimated results for FY 2024 and Q4 2024

19 March 2025

 

 

 

TAURON Polska Energia S.A.

(LEI No: 259400NAPDFBOTNCRL54)

 

 

 

TAURON Polska Energia Capital Group's estimated results for FY 2024 and Q4
2024

 

 

 

TAURON Polska Energia S.A. ("Issuer") announces selected estimated
consolidated financial and operating figures of TAURON Polska Energia S.A.
Capital Group ("TAURON Group") for FY 2024 and Q4 2024

 

Selected estimated consolidated financial figures for:

 

(a) 2024

 

Sales revenue and compensations: PLN 35,399 million

EBITDA (operating profit increased by depreciation, amortization and write
downs for non-financial assets): PLN 6,469 million, out of which:

- Distribution Segment's EBITDA: PLN 3,963 million

- RES Segment's EBITDA: PLN 684 million

- Generation Segment's EBITDA: PLN 746 million

- Heat Segment's EBITDA: PLN 301 million

- Supply Segment's EBITDA: PLN 598 million

 

EBIT (operating profit): PLN 2,650 million

Gross profit: PLN 1,885 million

Net profit: PLN 589 million

 

CAPEX: PLN 5,127 million

Net debt as of December 31, 2024: PLN 11 153 million

Net debt/ EBITDA as of December 31, 2024: 1.7x

 

(b) Q4 2024

 

Sales revenue and compensations: PLN 9,467 million

EBITDA (operating profit increased by depreciation, amortization and write
downs for non-financial assets): PLN 1,457 million, out of which:

- Distribution Segment's EBITDA: 864 mln zł

- RES Segment's EBITDA: PLN 190 million

- Generation Segment's EBITDA: PLN 437 million

- Heat Segment's EBITDA: PLN 78 million

- Supply Segment's EBITDA: PLN (109) million

 

EBIT (operating profit): PLN 939 million

Gross profit: PLN 748 million

Net profit: PLN 467 million

CAPEX: PLN 1,478 million

 

Selected estimated operating figures for:

(a) 2024

Electricity distribution: 51.7 TWh, out of which to end customers: 50.2 TWh

Gross electricity production: 11.5 TWh, out of which from RES: 1.7 TWh

Heat production: 10.3 PJ

Retail electricity supply: 26.7 TWh

 

(b) Q4 2024

Electricity distribution: 13.2 TWh, out of which to end customers: 12.7 TWh

Gross electricity production: 3.5 TWh, out of which from RES: 0.5 TWh

Heat production: 4.1 PJ

Retail electricity supply: 7.0 TWh

 

In December 2024 the Group, as a result of carried out analyses, changed the
method of settlement of sale and purchase of electricity to cover the
balancing difference (i.e. the difference between electricity delivered to the
grid and the electricity that was taken out of the grid by the Group's
companies). The change is related to settlements between companies from Supply
and Distribution Segments as well as to the adjustments of revenues on sales
of electricity to entities from outside of TAURON Group, presented in Supply
Segment. The change that has been introduced allows, in the opinion of the
issuer, to reflect the financial result of the Group (in particular in
Distribution segment), by eliminating major variations between periods that
result mainly from fluctuations of market electricity prices. The introduced
change caused increase of consolidated EBITDA of the Issuer's Capital Group
for 2024 by PLN 367 million, which covers a PLN 394 million increase in
Distribution Segment and a PLN 27 million decrease in Supply Segment.

 

The change in the method of settlement will be presented by the Issuer
retrospectively with effect as of January 1, 2023 which translates into
adjustment of the 2023 figures as presented to date (decrease of consolidated
EBITDA by PLN 680 million) as well as of individual 2024 quarterly figures
(impact on consolidated EBITDA respectively for Q1 - PLN 343 million increase,
Q2 - PLN 62 million increase, Q3 - PLN 2 million increase, Q4 - PLN 40 million
decrease).

 

In addition the Issuer informs that the consolidated financial results of
TAURON Group for Q4 2024 were also impacted by:

 

- completion of analyses carried out as part of asset impairment tests in
relation to the assets of TAURON Capital Group as of December 31, 2024 of
which the Issuer informed in current report No. 8/2025 of March 4, 2025. The
above mentioned analyses caused an increase of consolidated gross financial
result of the Issuer's Capital Group for 2024 by PLN 113 million,

- decrease of the value of the recognized asset due to deferred tax, mainly in
the company from Generation Segment due to worse perspectives of its recovery,
which caused decrease of Q4 2024 consolidated net financial result of TAURON
Capital Group by PLN 141 million.

 

The above presented financial results are estimates and may be subject to
change. The final figures will be presented in TAURON Group's FY 2024
consolidated report which is scheduled to be published on April 16, 2025.

 

Legal basis: Art. 17 sec. 1 of MAR - inside information

 

 

 

 

 Enquiries to:

 TAURON Polska Energia S.A.

 3 Ks. Piotra Ściegiennego Street

 40-114 Katowice, Poland

 Paweł Gaworzyński - Head of IR

 tel. no. +48 32 774 25 34

 Katarzyna Heinz - IR Officer

 tel. no. +48 516 111 038

 

 

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