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Polish utility PGE reports lower Q1'19 EBITDA YOY

PGE Polska Grupa Energetyczna SA reported EBITDA of 1.89 billion Polish zlotys for the first quarter of 2019, down from 2.21 billion zlotys recorded in the corresponding period of 2018.

Net profit for quarter was 612 million zlotys, compared to 986 million zlotys in the same quarter of 2018.

Operating profit was 950 million zlotys, compared with operating profit of 1.32 billion zlotys for the first quarter of 2018.

Total sales revenue was 9.56 billion zlotys, compared to 7.14 billion zlotys reported in the first quarter of 2018.

As of May 27, US$1 was equivalent to 3.83 Polish zlotys.