Nearly 1.9 billion EBITDA. Tauron estimates the consensus above

Tauron estimates that in the second quarter of 2025 his EBITDA result amounted to PLN 1.893 billion, and net profit reached PLN 924 million. PAP Biznes consensus assumed PLN 1,789.3 million EBITDA and PLN 818.7 million net profit.

Tauron announced in a statement that his estimated sales and compensation revenues in the second quarter of 2025 reached PLN 7.667 billion, and the market was at PLN 8.052 billion.

EBIT is estimated at PLN 1.236 billion, compared to PLN 1.186 billion expected by the market.

According to the estimates, the EBITDA of the distribution segment amounted to PLN 1,271 million, renewable energy sources (renewable energy) PLN 138 million, the production segment of PLN 211 million, the heat segment heat PLN 66 million, and the segment of sales and wholesale trade PLN 129 million.

Gross profit is estimated at PLN 1.048 billion. Investment outlays amounted to PLN 1.211 billion.

In the whole first half of 2025, Tauron estimates that he had PLN 17.3 billion in revenues, EBITDA PLN 4.224 billion, nearly PLN 3 billion EBIT and PLN 2.06 billion net profit. Gross profit amounted to approx. PLN 2.5 billion.

In the first half of 2025, the EBITDA segment of the distribution amounted to PLN 2,497 million, renewable segment of energy sources (renewable energy) PLN 318 million, the production segment of PLN 506 million, the heat segment heat PLN 189 million, and the sales and wholesale segment PLN 577 million.

The EBITDA margin reached the level of 24 percent. (increase at 4 pp rdr).

Capex in the first half of 2025 amounted to PLN 2.283 billion, i.e. by 23 percent more than in the first half of 2024, of which 87 percent They were incurred in distribution segments (mainly construction of new connections and modernization of the distribution network) and renewable energy (primarily the construction of wind and photovoltaic farms).

At the end of June 2025, the net debt was PLN 10.796 billion, and the Neto Long/EBITDA indicator 1.5x.

“In the first half of 2025, the Tauron group achieved very good financial results, as a result of which the net/EBITDA debt indicator at the end of June 2025 fell to 1.5x. The increase in the results of the group segment distribution, which generated about 60 percent of the group EBITDA, contributed to the increase in the results. Surma.

“Lower level of debt indicator in conjunction with financial resources obtained under the National Plan of Reconstruction and Increase Increability enable acceleration of investments in the modernization of distribution networks and connecting new customers to the network and development in the area of ​​renewable energy sources, as well as battery energy storage” – he added.

Other segments, i.e. sales and wholesale trade, manufacturing, renewable energy and heat had, respectively: 14 %, 12 percent, 8 percent and 4 percent Participation in the total eBITDA of the group.

The distribution of electricity in the first half of 2025 was 26.02 TWh, including to final recipients of 25.29 TWh, and the production of gross electricity 5.95 TWH, including RES 0.92 TWH. The heat production was 6.33 PJ, and the retail sales of electricity 12.77 TWH.

In the second quarter of 2025, the distribution of electricity was 12.30 TWh, including 12.06 TWh end recipients, and the production of gross electricity 2.46 TWh, including RES 0.44 TWH. The heat production was 1.62 PJ, and the retail sales of electricity 5.77 TWH.

Tauron plans to publish a report for the first half of 2025. September 17, 2025.

Below we present the estimated results of Tauron in the second quarter of 2025 and their reference to PAP consensus and previous results.

(PAP)

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