2022 Results

April 27, 2023

1

ZE PAK Group - 2022 Summary

Key operational and financial data

2022

Change y/y

Sale of electricity:

6.03

TWh

+4.87%

• Electricity from own production:

3.49

TWh

-19.95%

• Electricity from resale:

2.54

TWh

+83.73%

Achieved average electricity sale price (1)

601.27

PLN/MWh

+85.53%

Average purchase price of EUA

313.63

PLN/MWh

+92.85%

Sale revenues:

4 200

m PLN

+71.35%

EBITDA:

391

m PLN

+60.96%

Net result:

215

m PLN

+167.86%

CAPEX:

623

m PLN

+170.05%

Indebtedness:

1 108

m PLN

+145.18%

Cash (2)

1 463

m PLN

+188.61%

Net debt / EBITDA:

(0.91)

x

  1. Average price, calculated as electricity sales revenues (own production, from resale and system service) divided by sales volume.
  2. Cash and cash equivalents and other financial short-term assets.

2

ZE PAK Group - 4Q 2022 Summary

Key operational and financial data

4Q 2022

Change y/y

Sale of electricity:

1.47

TWh

-9.26%

• Electricity from own production:

0.87

TWh

-31.50%

• Electricity from resale:

0.60

TWh

+71.43%

Achieved average electricity sale price (1):

628.84

PLN/MWh

+52.34%

Average purchase price of EUA

391.71

PLN/MWh

+51.14%

Sale revenues:

1 107

m PLN

+30.67%

EBITDA:

(34)

m PLN

-159.21%

Net result:

(73)

m PLN

+82.81%

CAPEX:

374

m PLN

+525.10%

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ZE PAK Group - 2022 Summary

REVENUES

EBITDA

NET RESULT

4200

573

1 684

2451

243

391

40756

215

1 943

586

388

1 477

351

-513

- 317

20222021

Other

Electricity from resale

Electricity from own production

20222021

Depreciation andimpairment write-downs

EBIT

20222021

The increase in total sales revenues was mainly due to the increase in revenues from the sale of electricity, mainly due to a higher price by 85.53% and a 4.87% increase in the total volume of electricity sales.

The higher result at the level of EBITDA and net profit is due to a much better ratio of energy sales prices to the purchase prices of carbon dioxide emission allowances than it was in 2021. In 2022, there was a decrease in revenues obtained from the main sources of support (LTC, capacity market and green certificates) compared to 2021, in the amount of PLN 100 million.

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SELECTED ELECTRICITY MARKET DATA

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Disclaimer

Zespól Elektrowni Patnów-Adamów-Konin SA published this content on 30 June 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 30 June 2023 10:55:06 UTC.