In the first half of 2020, the PGNiG Group saw highest-ever growth of its financial results. Its net profit and EBIT increased fourfold and EBITDA tripled year on year. The Group reported increased volumes of natural gas sales and higher revenue from sale of heat.
In the first half of 2020, the PGNiG Group generated revenue of PLN 21.04bn and a net profit of PLN 5.92bn. Its EBITDA amounted to PLN 9.35bn and EBIT was PLN 7.65bn.
“Despite the turmoil caused by the coronavirus pandemic, we delivered excellent financial results in H1 2020. PGNiG achieved the best financial results among those reported for the first half of the year and the quarter by Polish listed companies, in the history of the Warsaw Stock Exchange,” commented Jerzy Kwieciński, President of PGNiG Management Board. The company was the best in quarterly terms in terms of EBIT and EBITDA as well as net profit, and in semi-annual terms in terms of EBIT and EBITDA.
“The figures reflect the decline in gas procurement costs caused be the change made to the pricing formula under the Yamal contract after PGNiG won the arbitration proceedings. As announced, we are pursuing the objective of growing the PGNiG Group shareholder value,” added Mr. Kwieciński.