Slide 1: 1Q 2024 Results
1Q 2024 Results May 31st, 2024 1
Slide 2: 1Q 2024 Summary
1Q 2024 Summary Key operational and financial data 1Q 2024 Change y/y Sale of electricity: 0.50 TWh -41.86% • Electricity from own production: 0.27 TWh -43.75% • Electricity from resale: 0.23 TWh -39.47% Achieved average electricity sale price (1) 695.81 PLN/MWh -38.64% Average purchase price of EUA
Slide 3: 1Q 2024 Summary [m PLN]
1Q 2024 Summary [m PLN] REVENUES EBITDA NET RESULT 1 152 27 181 ( 5) 392 520 173 142 579 205 ( 378) ( 374) 1Q 2024 1Q 2023 Others 1Q 2024 1Q 2023 1Q 2024 1Q 2023 Electricity from resale Electricity from own production The conditions for conducting ZE PAK business in the 1Q of 2024 have changed signi
Slide 4: Selected Electricity Market Data
SELECTED ELECTRICITY MARKET DATA 4
Slide 5: Electricity prices
Electricity prices Electricity prices (TGeBase) 1200 900 max. PLN/MWh 600 615,61 min. 527,16 505,59 300 401,29 356,28 weighted average 0 1Q 2023 2Q 2023 3Q 2023 4Q 2023 1Q 2024 Prices of a futures contract for the supply of electricity (band with annual delivery) 1200 1000 804,74 PLN/MWh 800 708,66
Slide 6: Price of the futures contract for the supply of EUA
Price of the futures contract for the supply of EUA Prices of a futures contract for the delivery of EUAs 100 90 89,87 80 61,97 70 euro 60 50 40 30 2-Jan 2-Feb 2-Mar 2024 2023 arithmetical average 1Q2024 arithmetical average 1Q2023 6
Slide 7: Operational Data
OPERATIONAL DATA 7
Slide 8: Net production and sale of electricity
Net production and sale of electricity [TWh] NET PRODUCTION SALE In Q1 2024, a 41.86% decrease in total sales volume 0,86 compared to Q1 2023 was recorded, both from the sale of 0,48 0,01 own and purchased energy. 0,14 0,38 TWh 0,50 The reduction in production was mainly due to less 0,27 TWh 0,17 0,
Slide 9: Lignite consumption and CO2 emission
Lignite consumption and CO2 emission [m tons] LIGNITE CONSUMPTION CO2 EMISSION 0,43 0,44 CO2 Miions of tones 0,35 0,36 Millions of tones 1Q 2024 1Q 2023 1Q 2024 1Q 2023 Data on coal consumption and CO emissions in the three months period of 2024 show a decrease in coal consumption and lower emission
Slide 10: Average prices for electricity sales and purchase of EUAs
Average prices for electricity sales and purchase of EUAs Electricity sale price (1) Purchase price of CO2 emission permits (EUA)(2) (1) Average price calculated as revenue from Energy sales (own, from turnover 1 134,00 and system services) devided by sales 406,07 387,19 } 18,47 volume. PLN/MWh 438,
Slide 11: Employment
EMPLOYMENT 11
Slide 12: Employment
Employment [full time] BY SEGMENTS TOTAL 1200 1000 3 015 2 688 2 557 800 600 400 200 0 GENERATION MINING RENOVATIONS OTHER 31-03-2024 31-12-2023 31-03-2023 31-03-2024 31-12-2023 31-03-2023 12
Slide 13: Financial Data
FINANCIAL DATA 13
Slide 14: Revenues and operating costs
Revenues and operating costs [m PLN] The decrease in revenues from the sale of electricity produced by PLN 374.0 million was 579 1Q 2024 attributable to lower prices by 38.64% and a decrease in volume by 42.75%, as a result of less 1Q 2023 favourable conditions on the energy market for the Group. 39
Slide 15: EBITDA 1Q 2024
EBITDA 1Q 2024 (1) [m PLN] 1Q 2024 1Q 2023 (1) Total EBITDA from continued and discontinued operations. Sales revenues 520 1 152 (2) EBITDA higher by PLN 405 million (+107.14%) – > after comparability lower by PLN 179 million (-102.29%) Change % (54.88)% 15.66% comparable EBITDA for Q1 2024 amounted
Slide 16: EBITDA 1Q 2024 by segments
EBITDA 1Q 2024 by segments(1) [m PLN] Main reasons for EBITDA changes in segments: Generation: • no fee for the price difference payment fund, lower result on the sale of purchased energy, lower revenues from heat, lower revenues from own energy, 133 124 EBITDA • higher revenues from the Capacity Ma
Slide 17: Consolidated profit and loss account for 1Q 2024 by segments
Consolidated profit and loss account for 1Q 2024 by segments(1) Consolidation m PLN Generation Mining Renovations Others adjustments Total Sale revenues from external 497 - 21 1 - 520 customers External sale revenues % 98.03% 0.00% 61.76% 4.00% 0.00% 100.00% Sale revenues between 10 211 13 24 (258)
Slide 18: Financial activities, tax and net result
Financial activities, tax and net result(1) [m PLN] 1Q 2024 1Q 2023 EBIT 23 (391) (1) Financial revenues 6 12 EBIT --˃ net loss (2) Financial costs (21) (34) Gross profit (loss) 8 (414) Income tax (tax burden)(3) (13) 39 Effective tax rate (162.50)% 9.42% Net profit (loss) (5) (374) Margin % (0.96)%
Slide 19: Investments
INVESTMENTS 19
Slide 20: Project of the construction of CCGT in Turek
Project of the construction of CCGT - Combined Cycle Gas Turbine in Turek in the area of closed Adamów power plant PROJECT’S NAME LOCATION INSTALLED CAPACITY PROJECT’S PHASE PRODUCTION Unit: Turek, wielkopolskie voivodeship CCGT Adamów Gas pipeline: Turek commune, 561 MW Implementation 1Q 2027 Przyk
Slide 21: CCGT Turek project: status of work
Project of the construction of CCGT - Combined Cycle Gas Turbine in Turek in the area of closed Adamów power plant STATUS OF WORK Adamów lignite power plant ➢ On September 1, 2023, a contract was signed with the general contractor - the consortium of Siemens/Mytilineos for construction in the EPC fo
Slide 22: Disclaimer
Disclaimer This presentation ("Presentation") is prepared for information purposes only and should not be treated as investment advice. This presentation has been prepared by ZE PAK SA (“the Company”). Presentation Recipients are solely responsible for their own analysis and evaluation of the market