Polish PGE 1Q Net Profit Drops 25%, Beats Forecast
15 Maggio 2013 - 7:33AM
Dow Jones News
WARSAW--Poland's top energy utility PGE Polska Grupa
Energetyczna S.A. (PGE.WA) said first-quarter net profit dropped
25% to 1.23 billion zlotys ($380 million) due to lower prices amid
an economic slowdown.
MAIN FACTS:
- Net profit dropped 25% to PLN1.23 billion, analysts expected a
fall to PLN1.04 billion.
- Operating profit down to PLN1.55 billion from PLN1.96 billion
a year earlier.
- Analysts expected EBIT to reach PLN1.3 billion.
- Revenues declined less than expected to PLN7.8 billion.
- Decline in earnings a result of lower energy prices and lower
margins due to economic slowdown in Poland.
Write to Patryk Wasilewski at patryk.wasilewski@dowjones.com
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