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Wednesday, February 21, 2024

The Tauron Group boasted of its profit. Double-digit growth

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In the first quarter of 2023, the Tauron Group generated a net profit of PLN 1.036 billion. For comparison, in the same period last year it was PLN 901 million. That’s an increase of 15 percent year-on-year, according to a report published on Tuesday.

The Tauron Group announced that in the first quarter of this year. revenues of PLN 13 billion 559 million were achieved. They were higher by 38 percent. compared to the corresponding period of 2022 – PLN 9 billion 813 million, “mainly as a result of a significant increase in market electricity prices and due to higher revenues from the sale of distribution and commercial services as a consequence of the increase in the rate of distribution and transmission services.

The Tauron Group boasted of its profit

In the reporting period, the net profit amounted to PLN 1.03 billion and was higher by 15%. compared to the first quarter of 2022.

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In the first three months, the Tauron Group achieved PLN 2.2 billion EBITDA (operating profit before interest on liabilities incurred), i.e. 14 percent more than in the previous year. more than last year. The largest share in the total EBITDA had the “Distribution” segment, which is responsible for 58 percent. EBITDA of the Group and the “Generation” segment, whose share amounted to 21%. Segment EBITDA “RES” and “Sales” accounted for 8% and 7% of the Group’s total EBITDA, respectively.

The company announced in a statement that in the first quarter of this year. capital expenditures increased by 28% on an annual basis. up to PLN 780 million, including PLN 574 million in the “Distribution” segment.

Tauron CEO Paweł Szczeszek emphasized that the company is building four wind farms with a total capacity of 140 megawatts (MW) and two photovoltaic farms with a total capacity of 82 MW. “We have several RES projects in the analysis phase. Works related to the separation of coal-generating assets to the National Energy Security Agency are also at an advanced stage. The success of the energy transformation depends on the development and modernization of distribution networks towards the so-called smart grids. no matter how much energy we produce from RES, the power system will not function effectively” – stressed Szczeszek, quoted in the communiqué.

The Tauron Group provides electricity distribution services to 5.87 million customers. In the first quarter of this year In 2018, a total of 13.66 TWh of electricity was delivered, which meant a decrease by 4%. Every year. As explained, the main reason for the decrease in volume was the economic downturn.

The Łagisza power plant belongs to Taurontauron.pl

Main photo source: tauron.pl

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