Estimation of selected financial and operating data for 2017
Accordingly to preliminary estimates:
- sales of electricity after 12 months of 2017 amounted to 2 442 GWh (including Parent Company 1,048 GWh),
- sales of heat after 12 months of 2017 amounted to 10 898 TJ (including Parent Company 9 617 TJ),
- the consolidated EBITDA after 12 months of 2017 amounted to approximately PLN 307.4 million,
- the consolidated EBITDA includes a decrease in revenues of compensation for stranded costs in the amount of PLN 27.2 million,
- the consolidated net profit attributable to the shareholders of the Parent Company amounted to approximately PLN 131.1 million (PLN 8.81 per share),
- capital expenditures amounted approximately to PLN 81.2 million.
During the preparation of the consolidated financial statements for the financial year ended on December 31, 2017, the accounting and reporting recognition of settlements for stranded costs compensations was verified in EC Zielona Góra S.A.
As part of the analysis, the accounting treatment presented in the consolidated financial statements for the year ended 31 December 2016 was considered different in relation to the accounting policy in Capital Group PGE Polska Grupa Energetyczna S.A. (the ultimate parent company of Zespół Elektrociepłowni Wrocławskich KOGENERACJA S.A.). Therefore, in the consolidated financial statements for the year ended 31 December 2017, the methodology of accounting for stranded costs was changed and the opening balance was adjusted accordingly.
The company reserves that the values presented above are estimated and still in the process of preparations. The final values will be presented in the consolidated annual report for 2017, the publication of which is scheduled for March 6, 2018.