Polenergia with almost PLN 274 million net profit for 2023

Polenergia has published its financial report for 2023. Poland’s largest private energy group achieved PLN 547.6 million in adjusted EBITDA. This result is PLN 193.3 million higher than in 2022. The net profit generated by Polenergia in 2023 ranks at PLN 273.6 million. This is PLN 111.6 million more than in the same period last year.

– Polenergia closes 2023 boasting record results, but this is only the beginning of our expansion. Our offshore projects will take the Group to another level of development,” says Jerzy Zan, CEO of Polenergia S.A.

Poland’s largest private energy group has published its consolidated financial report for 2023. Last year, Polenergia achieved an adjusted EBITDA of PLN 547.6 million, a year-on-year increase of PLN 193.3 million. In the fourth quarter of last year, the Group’s adjusted EBITDA amounted to PLN 127.8 million, an increase of PLN 17.8 million compared to the result in the same period of the previous year.

– The strategy we have chosen is yielding results, which we welcome with great satisfaction. In the last 12 months, Polenergia has commissioned three new wind farms, exceeding 0.5 GW of installed RES capacity. We are on the eve of launching the largest photovoltaic farm in the company’s history, and in Poland our portfolio of onshore projects in development reaches a total capacity of 2.1 GW. Polenergia closes 2023 boasting record results, but this is only the beginning of our expansion. Our offshore projects will take the Group to another level of development,” says Jerzy Zan, CEO of Polenergia S.A.

In 2023, the Group’s adjusted net profit amounted to PLN 273.6 million, an increase of PLN 111.6 million compared to the result in the same period last year. In the fourth quarter of 2023 alone, the Group’s adjusted net profit amounted to PLN 59.9 million, an increase of PLN 5.7 million over the result in the corresponding period of 2022.

– Year by year, Polenergia plays an increasingly important role in Poland’s energy transition. In the coming months, our attention will be directed towards wind farms in the Baltic Sea. The construction of offshore wind farms will not only open a new chapter in the history of the Polish energy industry, but will also be a huge development leap for Polenergia. The launch of three offshore wind projects in the Baltic Sea will open the door for our Group to be a leader in this area in this part of Europe, says Jerzy Zan, President of the Management Board of Polenergia S.A.

Sales revenues for 2023 amounted to PLN 5,615.4 million and were lower by PLN 1,473.8 million than revenues for 2022. Lower revenues in the segment were mainly due to a decrease in revenues in trading and sales (by PLN 1,652.4 million) and in the gas and clean fuels segment (by PLN 37 million). These decreases were partially offset by higher revenues in the onshore wind farms (by PLN 186.8 million) and distribution (by PLN 21.3 million) segments.

Key figures from Polenergia’s financial report for 2023:

PLN 5.6 billion – sales revenues in 2023
PLN 547.6 million – adjusted EBITDA in 2023
PLN 273.6 million – adjusted net profit in 2023
530 MW – capacity of onshore RES projects in operation
2100 MW – capacity of onshore RES projects in development in Poland
3000 MW – capacity of wind farms in the Baltic Sea in development

Source: PortalMorski.pl