All because of coal? Enea Group estimates its results for the second quarter

The Enea Group estimates that in Q3 2025 it had PLN 1,271 million of EBITDA, and the net profit of jd amounted to PLN 747 million – the company reported in a press release. The PAP Biznes consensus assumed EBITDA of PLN 1.187 billion and net profit of PLN 650 million.

Moreover, estimated sales revenues amounted to PLN 6.58 billion. Estimated capital expenditure on tangible fixed assets and intangible assets amounted to PLN 1,010 million.

The EBITDA result in the mining area amounted to PLN -106 million, in the production area: PLN 467 million, in the distribution area: PLN 701 million, and in the turnover area: PLN 170 million.

In the third quarter, net coal production amounted to 1.3 million tons; total net electricity generation: 4.5 TWh, including: 0.3 TWh from biomass and 0.2 TWh from renewable energy sources; sale of distribution services to end users: 4.9 TWh; sales of electricity and gas fuel to retail customers: 5.9 TWh.

It was reported that in the mining area, the lower EBITDA result was the result of lower revenues from coal sales. With a lower coal sales volume, a lower sales price was realized.

It was indicated that a lower EBITDA result was achieved in the production area. The System Power Plants Segment recorded a decline in EBITDA, mainly as a result of a decline in the result of licenses for electricity generation, a decline in the margin on electricity trading and lower revenues from Balancing Capacity, with simultaneously higher revenues from the Capacity Market.

In the renewable energy segment, a decrease in EBITDA was recorded due to a lower margin on the Green Block (mainly the result of lower electricity prices with a simultaneous decrease in unit costs of biomass). The Heat Segment recorded an increase in EBITDA, which was due to an increase in the unit margin (mainly a decrease in unit fuel costs).

In turn, in the distribution area, the increase in EBITDA is the result of a higher realized margin from licensed activities. At the same time, an increase in operating costs was recorded. In the area of ​​turnover, the higher EBITDA results mainly from the increase in margins on the retail market. At the same time, there was a decrease in recognized compensation revenues.

“Enea for the use of settlements with eligible customers, in accordance with the provisions of the Act of October 7, 2022 on special solutions for the protection of electricity consumers in 2023 and in 2024 in connection with the situation on the electricity market and for the application of a maximum price, in accordance with the provisions of the Act of October 27, 2022 on emergency measures aimed at limiting the level of electricity prices and support for certain customers in the years 2023-2025 recognized revenues from compensation in the total amount of PLN 462 million for the period of 9 months of 2025, and in the third quarter of 2025 in the total amount of PLN 142 million,” it was written. (PAP Business)

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