ZE PAK SA 1Q 2023 Results
May 30, 2023
1
1Q 2023 Summary
Key operational and financial data | 1Q 2023 | Change y/y | |
Sale of electricity: | 0.86 | TWh | -45.57% |
• Electricity from own production: | 0.48 | TWh | -46.67% |
• Electricity from resale: | 0.38 | TWh | -44.12% |
Achieved average electricity sale price (1) | 1 134.00 | PLN/MWh | +107.50% |
Average purchase price of EUA | 387.19 | PLN/MWh | +49.41% |
Sale revenues: | 1 152 | m PLN | +15.66% |
EBITDA: | (378) | m PLN | - |
Net result: | (374) | m PLN | - |
CAPEX: | 215 | m PLN | +290.91% |
Indebtedness: | 1 216 | m PLN | +101.66% |
Cash (2) | 836 | m PLN | +159.63% |
Net debt / EBITDA: | (3.28) | x | - |
- Average price, calculated as electricity sales revenues (own production, from resale and system service) divided by sales volume.
- Cash and cash equivalents and other financial short-term assets.
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1Q 2023 Summary [m PLN]
REVENUES | EBITDA | NET RESULT | ||
1 152 | 129 | |||||||||||||||||||||||||||||||||
996 | 11 | |||||||||||||||||||||||||||||||||
181 | ||||||||||||||||||||||||||||||||||
118 | 103 | |||||||||||||||||||||||||||||||||
392 | 130 | 13 | ||||||||||||||||||||||||||||||||
383 | ||||||||||||||||||||||||||||||||||
( 391) | ||||||||||||||||||||||||||||||||||
579 | ||||||||||||||||||||||||||||||||||
483 | ||||||||||||||||||||||||||||||||||
( 378) | ||||||||||||||||||||||||||||||||||
1Q 2023 | 1Q 2022 | |||||||||||||||||||||||||||||||||
Other | 1Q 2023 | 1Q 2022 | ( 374) | |||||||||||||||||||||||||||||||
Electricity from resale | Depreciation | EBIT | ||||||||||||||||||||||||||||||||
Electricity from own production | ||||||||||||||||||||||||||||||||||
1Q 2023 | 1Q 2022 | |||||||||||||||||||||||||||||||||
The increase in total sales revenues in Q1 2023 was mainly influenced by the increase in revenues from the sale of electricity due to a 107.50% higher price.
In Q1 2023, the financial results achieved were adversely affected by the increase in provisions for the reclamation of open pits, including the operating result - PLN 553 million and the net result - PLN 508 million.
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SELECTED ELECTRICITY MARKET DATA
4
Electricity prices
2150 | |||||
1850 | |||||
1550 | max. | ||||
PLN/MWh | 1250 | 1126,15 | |||
950 | 702,47 | 754,89 | min. | ||
629,94 | 615,61 | ||||
650 | |||||
350 | weighted average | ||||
50 | |||||
1Q 2022 | 2Q 2022 | 3Q 2022 | 4Q 2022 | 1Q 2023 |
2600 | 1723,76 | ||||||||||||||||||||||
2300 | |||||||||||||||||||||||
PLN/MWh | 2000 | ||||||||||||||||||||||
1700 | 999,69 | 1085,77 | |||||||||||||||||||||
1400 | |||||||||||||||||||||||
1100 | 651,76 | 804,74 | |||||||||||||||||||||
800 | |||||||||||||||||||||||
500 | 3-May-2022 | 29-Dec-2022 | 18-Jan-2023 | ||||||||||||||||||||
3-Jan-2022 | 23-Jan-2022 | 12-Feb-2022 | 4-Mar-2022 | 24-Mar-2022 | 13-Apr-2022 | 23-May-2022 | 12-Jun-2022 | 2-Jul-2022 | 22-Jul-2022 | 11-Aug-2022 | 31-Aug-2022 | 20-Sep-2022 | 10-Oct-2022 | 30-Oct-2022 | 19-Nov-2022 | 9-Dec-2022 | 7-Feb-2023 | 27-Feb-2023 | 19-Mar-2023 | ||||
price | quarterly average |
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Disclaimer
Zespól Elektrowni Patnów-Adamów-Konin SA published this content on 04 July 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 04 July 2023 08:31:04 UTC.
