TAURON Group s results presentation Q1 213 9 May 213
Disclaimer This presentation serves for information purposes only and should not be treated as investment-related advice. This presentation has been prepared by TAURON Polska Energia S.A. ( the Company ). Neither the Company nor any of its subsidiaries shall be held accountable for any damage resulting from the use of this presentation or a part thereof, or its contents or in any other manner in connection with this presentation. The recipients of this presentation shall bear exclusive responsibility for their own analyses and market assessment as well as evaluation of the Company s market position and its potential results in the future based on information contained in herein. To the extent this presentation contains forward-looking statements related to the future, in particular such terms as designed, planned, anticipated, or other similar expressions (including their negation), they shall be connected with the known and unknown risks, uncertainty and other factors which might result in actual results, financial situation, actions and achievements being materially different from any future results, actions or achievements expressed in such forward-looking statements. Neither the Company nor any of its subsidiaries shall be obliged to provide the recipients of this presentation with any additional information or to update this presentation. 2
Key events TAURON Polska Energia Q1 213 and recent events 15 January TAURON Group s Efficiency Improvement Program for 213-215 launched 24 January Offer of consortium: RAFAKO and MOSTOSTAL WARSZAWA selected for construction of 91 MW coal-fired unit at Jaworzno III power plant 1 March 3-year long contract for hard coal supply signed with Kompania Węglowa. Estimated value of the contract from 213 to 215 is approx. PLN 2.4bn 15 March Letter of Intent signed with Polska Telefonia Cyfrowa (T-Mobile) for strategic cooperation. The goal of the cooperation is to introduce new solutions (in terms of both, products and technologies) for telecommunication and energy markets 25 March Polish Appeals Chamber dismissed appeals against decision of TAURON Wytwarzanie S.A. concerning selection of contractor for construction of the unit at Jaworzno III power plant 11 April Management Board issued recommendation on dividend payout in the amount of PLN 262 882 49.1 from net profit for the financial year 212 attributable to the Company s shareholders (PLN.15 per share). On 17 April the Supervisory Board approved of the Management Board s recommendation 18 April Ordinary General Meeting convened for 16 May 213 Energy market Q1 213 and recent events 4 April President of Energy Regulatory Office adopted the model and method for calculation and recognizing WACC in heat tariffs for the years 23-215 5 April PGE decided to quit construction of unit at Opole power plant 16 April European Parliament rejected proposal of the European Commission for so-called backloading, i.e. rescheduling auctions for 9m CO 2 emission allowances after 213 3
Implementation of CAPEX program The CAPEX program is aimed at upgrading generation assets and cost-effectively increasing generation capacity located in the vicinity of TAURON Group s existing assets (brownfield projects) Katowice new CCGT unit (135 MW e / 9 MW t ) Wind farms: 4 MW in Wicko and 1 MW in Marszewo Blachownia new CCGT unit (85 MW e ) Stalowa Wola new CCGT unit (45 MW e / 24 MW t ) ZEC Bielsko-Biała new heat unit (5 MW e / 182 MW t ) Stalowa Wola boiler conversion to biomass burning (2 MW e ) Investment commissioned in Q1 213 Tychy new CHP unit (5 MW e / 86 MW t ) Jaworzno III new coal-fired unit (91 MW e ) Łaziska upgrade of boilers to comply with future nitrogen emission standards Tychy fluidized bed boiler conversion to biomass burning (4 MW e ) Investment commissioned in Q1 213 Jaworzno III upgrade of boilers to comply with future nitrogen emission standards 4
Capital expenditures PLNm 6 51 541 5 4 2 6 1 6 6% 7 16 246 3 5 3 223 2 5 123 1 188 111 25 3 I kwartał Q1 212 212 I kwartał Q1 213 213 Wydobycie Mining Wytwarzanie Generation OZE Dystrybucja Sprzedaż Obsługa Klienta Ciepło Pozostałe After Q1 213 TAURON Group s CAPEX amounted to PLN 541m and was higher than in comparable period last year by approx. 6% (PLN 51m after Q1 212). This was mainly due to increase of investments in Distribution and RES Segments. The main investment projects executed in Q1 213 included: - construction of new generation assets (capital expenditures: PLN 48m) and construction of installations for No x emission reduction (capital expenditures: PLN 45m) in Generation - construction of wind farms: Marszewo and Wicko (capital expenditures: PLN 18m) in RES - construction of new connections (capital expenditures: PLN 78m); upgrade and restoration of grid assets (capital expenditures: PLN 147m) in Distribution 5
Electricity generation Macroeconomic figures Macroeconomic and market figures 1,% 8,% 6,% 4,% 2,%,% -2,% -4,% (TWh) 5 45 4 35 3 9.3% 1 61 GWh 4.5% 1.5% 4.9% 1 158 GWh 3.5% 1.6% 1 772 GWh 1.1% (forecast for Q1 213)* -2.% -1.8% Q1 211 Q1 212 Q1 213 43 294 +.5% 43 55 -.5% 43 3 3 822 +29.1% 3 95 +6% 3 89 1 47 1 817 1 926 1 8 1 6 1 4 1 2 1-3.6% 12 998 +1.4% 14 353 13 843 2 GWh 8 6 4 2 - Industrial production GDP Electricity consumption Export (GWh) Pozostałe Other Odnawialne RES Źródła Energii 25 2 El. Lignite-fired cieplne na power węgiel plants brunatny 15 1-6.5% +1.2% 25 68 23 43 23 721 El. Hard cieplne coal-fired na węgiel power kamienny plants 5 I kwartał Q1 211 211 I kwartał Q1 212 212 I kwartał Q1 213 213 6
Key operating data Q1 212 Q1 213 Change Production of commercial coal (million t) 1.21 1.52 25.6% Electricity generation (net production) (TWh) 4.98 5.15 3.4% including: from renewable sources.3,28-6.7% Heat generation (PJ) 7.8 7.7-1.3% Distribution (TWh) 12.7 12.42-2.2% Electricity supply (TWh) 11.89 1.93-8.1% Number of customers Distribution (thousand) 5 284 5 37 +23 thousand 7
Financial results for Q1 213 7 6 5 4 3 2 1 7 6 5 4 3 2 1 TAURON Group s revenue (PLNm) 6 455-4.4% -2% 6 173 5 163 I kwartał Q1 212 212 I kwartał Q1 213 213 - - - Comparable sales level (including: revenue from LTC and sale of 1% generated electricity through power exchange, similar to Q1 212) TAURON Group s net profit (PLNm) 395 46,9% 3,4% 3,7% I kwartał Q1 212 212 I kwartał Q1 213 213 Share of minority shareholders in profit 58 1 4 1 2 1 8 6 4 2 9 8 7 6 5 4 3 2 1 TAURON Group s EBITDA per segment (PLNm); EBITDA structure 975 1% 1% 46% 43% 6% 23% 14% 2% 5% 6% 559 1% 1.4% 25.2% 1 221 8% 28% I kwartał Q1 212 212 I kwartał Q1 213 213 788 I kwartał Q1 212 212 I kwartał Q1 213 213.2% 1% Wydobycie Wytwarzanie OZE Dystrybucja Sprzedaż Obsługa Klienta Ciepło Pozostałe TAURON Group s EBIT (PLNm) 41.1% 8
EBITDA Q1 213 PLNm 14 Change in EBITDA per segment (PLN and %); EBITDA margin per segment (%) 15.1% 19.6% 13.3% 65.4% 34.1% 7.3% 11.6% 23.9% 2.3% - 23.7% 12 246,7 (1,2) (5,1) (8,6) (1,1) 1 221 1 975 23,9 (6,) (26,3) 77,9 8 49% -26% -49% 17% 244% -9% -5% -79% - 6 4 788 559 2 EBITDA Q1 212 Wydobycie Mining Wytwarzanie Generation OZE RES Dystrybucja Distribution Sprzedaż Supply Customer Obsługa Service klienta Ciepło Heat Pozostałe Other Unallocated Pozycje nieprzypisane items/ / wyłączenia exclusions EBITDA Q1 213 EBIT Increase in segment Change in segment in % Depreciation Decrease in segment EBITDA margin 9
Cash as of 1.1.213 Total operating cash flows Gross profit Depreciation Change in liabilities and receivables Other gross profit adjustments Total cash flow from investment Purchase of fixed assets and intangible assets Granting / repayment of loans Other cash flows from investment activity Total cash flows from financial operations Inflows from credits and loans Repayment of credits and loans Interest paid Other cash flows from financial operations Cash as of 31.3.213 Cash flow changes PLNm 2 5 Cash flow changes in Q1 213 2 433 1 5 736 (384) (12) 665 1 892 1 167 451 815 5 7 425 (8) (9) (9) (1 141) (33) Increase Decrease 1
Group s debt level PLNm Group s debt level 6 5 4 535 1 141 (5) 26 55 5 115 4 351 3 (1 169) 2 1 net debt / EBITDA 1.33x Zadłużenie Net debt as netto of na 1.1.213 Operating Przepłwy operacyjne cash flow przed opodatkowaniem before tax Zmiana Change kapitału in pracującego working capital CAPEX Wydatki inwestycyjne Sales Sprzedaż of fixed rzeczowych assets and aktywów intangible trwałych i wartości assets niematerialnych Income Podatek tax dochodowy paid zapłacony Pozostałe Other Zadłużenie netto Net debt as of na 31.3.213 31.3.213 In Q1 213 net debt increased by approx. PLN 57m (among others, as a result of drawing new tranches of the loan from EIB in the amount of PLN 542m) 11
Prime cost structure PLNm 3 2 5 2 1 5 2 618 1% 29% 6% 24% 6.% 2 775 1% 23% 8% 21% 1 32% 27% 5 13% 15% I kwartał Q1 212 212 I kwartał Q1 213 213 Consumption of energy and Amortyzacja Amortization i odpisy and impairment aktualiz. Zużycie materials materiałów i energii Usługi Outsourced obce services Podatki Taxes i and opłaty fees Koszty Costs świadczeń of employee pracowniczych benefits Pozostałe Other prime koszty costs rodzajowe Cost increase in Q1 213 is mainly attributable to: consumption of energy and materials taxes and fees cost of provision set up in Q1 213 for CO 2 emission allowances depreciation In Q1 213 variable costs (excluding the value of goods and materials sold) constituted approx. 37% and fixed costs constituted approx. 63% of the total costs. Change in comparison to Q1 212 when variable costs constituted 46% and fixed costs constituted 54% results from lower variable costs of Generation and Heat (lower fuel costs) and Distribution (lower costs of transmission fee) 12
Efficiency improvement program PLNm 1 9 8 Efficiency improvement program for 213-215 Cumulative OPEX savings 34 PLN.9bn 87 7 6 5 4 3 2 44 7 1 2 Wydobycie Mining Generation Wytwarzanie Ciepło Dystrybucja oszczędności 213 Heat Distribution 213 Savings Voluntary Redundancy Program: since the program s launch 89 persons enrolled, as of the end of Q1 213. Over that period employment contracts were terminated with 297 persons. Savings resulting from redundancies, decreased by costs incurred to generate those savings, are included in the amounts presented per segment. Having completed the first efficiency improvement program, TAURON Group has launched a similar program planned for 213-215, which should bring an approx. PLN 86m OPEX reduction. As a result of the program implementation the Group expects OPEX reduction in most segments with the biggest savings coming from Distribution and Generation. 13
Regulated segments Distribution + Heat (approx. 57% of EBITDA in total) Outlook for 213 (1) 1% 9% 8% 7% 6% 5% 4% 3% 2% 1% % PLN 3.84bn 1% 12% 6% 51% 4% 22% 7% Strengths growth in regulated segments (Distribution and Heat) decrease of coal prices in the Group s generation assets by approx. 12% on average in 213 means lower average variable cost of generation per unit by approx. 1% to approx. PLN 123/MWh lower prices of green certificates (drop of certificate price on the market by PLN 1 translates into lower costs of cancelling green certificates by approx. PLN 22m) exposure to CO2 (carbon credits received under KPRU III (Free Carbon Credit Allocation System): 13.5m Mg; 4.m Mg transferred from 212 to 213) OPEX planned execution in 213 approx. PLN 24m savings, employment reduction by approx. 11 FTEs final settlement of LTC program expected cash income of approx. PLN 5m possibile funding acquisition (state-owned bank BGK, bond issue on domestic market, EIB) Weaknesses lost revenue due to falling prices of certificates (assuming electricity generation level similar to 212) in the following segments: a) Generation: in biomass co-firing at estimated certificate price of PLN 185/ MWh approx. PLN 14m b) RES: approx. PLN 75m end of LTC compensation program (PLN 567m in 212) decrease of coal sale prices in Mining segment (coal for electricity generation purposes lost revenue of approx. PLN 19m per quarter; coal sold outside the Group by approx. PLN 4m) possible impairment loss of certain generation assets due to permanent decrease of value (in the case of further electricity price drops that impact profitability of the Group s own generation) Forecasted decrease by up to 15% compared to 212 EBITDA 212 EBITDA 213 Wydobycie Mining Wytwarzanie Generation OZE RES Dystrybucja Distribution Ciepło Heat Sprzedaż Supply Customer Obsługa Service Klienta Pozostałe Other (~) (~) (+) (+) (+) (~) (-) (-) Regulated segments (approx. 65-67% of EBITDA in total) (+) forecasted increase in segment (-) forecasted decrease in segment (~) forecasted stability in segment 14
Regulated segments Distribution + Heat (approx. 57% of EBITDA in total) Outlook for 213 (2) 1% 9% 8% 7% 6% 5% 4% 3% 2% 1% % PLN 3.84bn 1% 12% 6% 51% 4% 22% 7% Opportunities negotiations with PSE/URE (Transmission System Operator/ Energy Regulatory Office) concerning cold reserve/ spinning reserve possible liberalization of G tariff by the President of Energy Regulatory Office implementation of so-called Energy law threepack, including regulations on cogeneration growing demand (expected economy bounce back in H2 213) lower interest rates translate into lower financial costs for the TAURON Group Threats possible adjustment of G tariff from H2 213 lower volume of distributed electricity (by 1-1.5%) due to economic slowdown possible renegotiation of electricity supply agreements by clients reduction of electricity prices (connected with profitability of generation from own sources) EBITDA 212 EBITDA 213 Customer Wydobycie Mining Wytwarzanie Generation OZE RES Dystrybucja Distribution Ciepło Heat Sprzedaż Supply Obsługa Klienta Pozostałe Other Service Forecasted decrease by up to 15% compared to 212 (~) (~) (+) (+) (+) (~) (-) (-) Regulated segments (approx. 65-67% of EBITDA in total) (+) forecasted increase in segment (-) forecasted decrease in segment (~) forecasted stability in segment 15
Thank you Q&A Investor Relations Marcin Lauer marcin.lauer@tauron-pe.pl tel. + 48 32 774 27 6 Paweł Gaworzyński pawel.gaworzynski@tauron-pe.pl tel. + 48 32 774 25 34 Magdalena Wilczek magdalena.wilczek@tauron-pe.pl tel. + 48 32 774 25 38 17
Additional Information 18
Electric energy market price trends Electric energy Platforms: TGE, TFS, GFI, GPW-POEE Forward BASE (Y+Q+M) Forward PEAK (Y+Q+M) Price PLN/MWh 212 213 (until 17.4.213) 213/212 Volume GWh Price PLN/MWh Volume GWh Price % Volume % 2.8 139 358 188.37 127 764-5.9% - 8.4% 225.56 17 161 27.35 13 377-8.1% - 22.1% Forward (weighted average) SPOT (TGE + GPW-POEE) Total weighted average CO 2 emission allowances (EUR/t): 22.88 156 519 19.17 141 14-6.3% - 9.8% 173.58 2 388 155. (Forecast) 21 (Forecast) - 1.7% + 3% 199.5 176 97 185.62 162 14-7.% - 8.3% Certificates (PLN/MWh) Survey of CO 2 market analysts* Average in 213 Average in 214 Average in 215 Price (EUR/t) 2 5 EUR/t 5 9 EUR/t 6 1 EUR/t Type of certificate Market prices (average in April 213) Substitution fee and obligation for 213 RES (green) 12.6 297.35 (12.%) Coal co-generation (red).84 29.84 (not announced) EUA average price in 213 (TAURON forecast) 2 4 EUR/t *Source: Deutsche Bank, Barclays Capital, Point Carbon Gas co-generation (yellow) 44.44 149.3 (not announced) Methane (violet) 58. 6. (.9%) 19
Price [PLN/MWh] BASE contracts for 213 Prices of BASE contracts concluded for 213 215 25 195 185 175 165 155 145 212-1-1 212-2-23 212-4-16 212-6-8 212-7-31 212-9-22 212-11-14 213-1-6 213-2-28 213-4-22 Y-13 Q1-13 Q2-13 Q3-13 Q4-13 Average price of concluded contracts [PLN/MWh]: Volume [GWh] Annual 191.6 18 861 Quarterly 171.69 15 578 Monthly 161.2 3 325 TOTAL 188.37 127 674 2
Price [PLN/MWh] PEAK contracts for 213 25 Prices of PEAK contracts concluded for 213 24 23 22 21 2 19 18 17 212-1-1 212-2-22 212-4-14 212-6-5 212-7-27 212-9-17 212-11-8 212-12-3 213-2-2 213-4-13 Y-13 Q1-13 Q2-13 Q3-13 Q4-13 Average price of concluded contracts [PLN/MWh]: Volume [GWh] Annual 29.9 12 37 Quarterly 191.37 834 Monthly 192.21 56 TOTAL 27.35 13 337 21
Price [PLN/MWh] BASE contracts for 214 23 Prices of BASE contracts concluded for 214 22 PLN 23/MWh prices of first BASE Y-14 transactions concluded in July 211 21 2 19 18 17 16 15 213-1-1 213-1-16 213-1-31 213-2-15 213-3-2 213-3-17 213-4-1 213-4-16 Y-14 Q1-14 Q2-14 Q3-14 Q4-14 Average price of concluded contracts [PLN/MWh]: Volume [GWh] Annual 174.9 51 596 Quarterly 163.99 149 Monthly TOTAL 174.87 51 745 22
Price [PLN/MWh] PEAK contracts for 214 215 Prices of PEAK contracts concluded for 214 21 25 2 195 19 185 18 213-1-6 213-1-2 213-2-3 213-2-17 213-3-3 213-3-17 213-3-31 213-4-14 Y-14 Q1-14 Q2-14 Q3-14 Q4-14 Average price of concluded contracts [PLN/MWh]: Volume [GWh] Annual 188.84 639 Quarterly Monthly TOTAL 188.84 639 23
Implementation of CAPEX program ZEC Bielsko-Biała new heat unit Elektrociepłownia Tychy new CHP unit Capacity 5 MW e / 182 MW t Scheduled commissioning H1 213 Status as of 31 March 213: 15 March adjustment completed, trial run commenced. General Contractor: Polimex-Mostostal Capacity 5 MW e / 86 MW t Scheduled commissioning H1 216 Status as of 31 March 213: Contractor selection for the new unit is underway Elektrownia Stalowa Wola upgrade of K-1 boiler (biomassfired) Capacity 2 MW e Scheduled commissioning Q1 213 Status as of 31 March 213: 28 March K-1 boiler was commissioned. General Contractor: Rafako Wind farm Wicko Capacity 4 MW e Scheduled commissioning 213 Status as of 31 March 213: General Contractor Consortium: Kraków-based Aldesa Nowa Energia and Madrid-based Aldesa Construcciones Engineering works are completed for access roads and assembly sites for 12 wind turbines Production of gondolas, towers and blades for 2 wind turbines Elektrociepłownia Tychy upgrade of fluidized bed boiler (biomass-fired) Capacity 4 MW e Status as of 31 March 213: biomass boiler construction: 15 February licence for energy generation granted by the Energy Regulatory Office, contractor: Metso Power Oy construction of biomass feeding system: construction works are underway, contractor: Mostostal Warszawa (commissioning H1 213) WR 4 boiler construction: preparation of installation for warranty measurements, trial operation underway, contractor: SEFAKO (commissioning H1 213) 24
Implementation of CAPEX program (2) Elektrownia Stalowa Wola new CCGT unit Wind farm Marszewo Capacity 45 MW e / 24 MW t Scheduled commissioning 215 Status as of 31 March 213: General Contractor Abener Energia Construction works have started Detailed design works are completed: for the river bar on San river and foundations of the main buildings. Works on remaining detailed designs are underway Capacity 1 MW e Scheduled commissioning 214 Status as of 31 March 213: Finish works and tests of the Main Supply Station are underway Works involving medium-voltage grid have been completed and commissioned Wind turbine assembly underway (33 out of 41 turbines have been assembled) Elektrociepłownia Katowice new CCGT unit Capacity 135 MW e / 9 MW t Scheduled commissioning 216 Status as of 31 March 213: Contractor selection is underway 5 March final Terms of Reference and invitations to submit final offers were sent Elektrownia Blachownia new gas unit Capacity rzędu 85 MW e Scheduled commissioning 217 Status as of 31 March 213: Terms of Reference preliminary requirements for the tender for General Contractor of the unit are under preparation 25
Implementation of CAPEX program (3) Elektrownia Jaworzno III boilers upgrade Scope upgrading six OP-65k type boilers to comply with the lower NO x emission standards to be binding in Poland from 218 Commencement of the works 21; scheduled commissioning 216 Status as of 31 March 213: Upgrade of units No. 2 and No. 4 is completed. Works on unit No. 6 have commenced General contractor: consortium of Fortum Power and Heat (consortium leader) and Zakłady Remontowe Energetyki Katowice (consortium member) Elektrownia Jaworzno III new coal-fired unit Capacity 91 MW e Scheduled commissioning 218 Status as of 31 March 213: 24 January TAURON Wytwarzanie selected the offer submitted by consortium of Rafako and Mostostal Warszawa as the winning bid in the tender for construction of the unit at Jaworzno 25 March Polish Appeals Chamber dismissed appeals filed by consortium: SNC-Lavalin Polska, SNC-Lavalin Inc. And Hitachi Power Europe GmbH and consortium: China National Electric Engineering and China Overseas Engineering Group Elektrownia Łaziska boilers upgrade Scope upgrading four OP-65k type boilers to comply with the lower NO x emission standards to be binding in Poland from 218 Commencement of the works 21; scheduled commissioning 215 Status as of 31 March 213: Works at units No. 12 and No. 11 are completed Warranty measurements at unit No. 11 are underway General contractor: STRABAG 26
Reporting model Generation SEGMENT Mining SEGMENT RES SEGMENT Heat SEGMENT Distribution SEGMENT Supply SEGMENT Customer Service SEGMENT Other SEGMENT Mining Segment: Południowy Koncern Węglowy Generation Segment: TAURON Wytwarzanie RES Segment: TAURON Ekoenergia BELS INVESTMENT MEGAWAT MARSZEWO Lipniki Distribution Segment: TAURON Dystrybucja TAURON Serwis GZE Supply Segment: TAURON Sprzedaż TAURON Sprzedaż GZE TAURON Polska Energia TAURON Czech Energy Customer Service Segment: TAURON Obsługa Klienta Other Segment: Kopalnia Wapienia Czatkowice PE-PKH Heat Segment: TAURON Ciepło EC Tychy EC Nowa In Q1 212 TAURON introduced the new reporting model dividing the Group s operations into eight segments 27
Mining key financial data Change of: Revenue EBITDA EBIT in the segment (in PLNm) 4 35 3 25 2 15 37 373 1 5 73 49 23 Q1 212 Q1 213 46 28
Mining EBIT bridge PLNm 5 4 46 4 (2) 8 3 23 2 1 (23) EBIT I-III 212 (wyk.) EBIT Q1 212 (result) Wolumen Coal sprzedaży sales volume węgla Cena sprzedaży Coal sales węgla price Jedn. Own koszt cost własny of coal sprzedanego sold per unit węgla Pozostałe Other revenue/ przychody / koszty costs EBIT I-III EBIT 213 (wyk.) Q1 213 (result) Increase Decrease 29
Generation from conventional sources key financial data Change of: Revenue EBITDA EBIT in the segment (in PLNm) 1 6 1 4 1 2 1 8 6 4 2 1 396 1 262 227 167 11 35 Q1 212 Q1 213 3
Generation from conventional sources EBIT bridge PLNm 16 1 14 61 1 12 1 11 46 8 3 6 4 (56) (51) 4 35 2 (121) EBIT EBIT I-III Q1 212 (wyk.) 212 (result) Electricity Cena sprzedaży sales energii price Jednostkowy Variable koszt zmienny cost of wytwarzania electricity energi el. generation per unit Rezerwa Provision na for koszty costs niedoboru to cover CO2 CO 2 shortage Margin Marża na on electricity obrocie energią el. trading Koszty Fixed costs stałe bez less amortyzacji depreciation Volume Wolumen of sprzedaży electricity energi z sold own własnej generation produkcji Marża na Margin cieple on heat Przych. z tyt. Revenue due rekompensaty to LTC KDT compensation Pozostałe Other przychody / koszty revenue/ costs EBIT EBIT I-III 213 Q1 (wyk.) 213 (result) Increase Decrease 31
Generation from renewable sources key financial data Change of: Revenue EBITDA EBIT in the segment (in PLNm) 7 67 6 5 4 54 43 42 3 2 1 27 Q1 212 Q1 213 18 32
RES EBIT bridge PLNm 5 43 4 (4) 3 (7) 2 1 18 (15) (,5) 1 EBIT I-III 212 EBIT Q1 212 (result) (wyk.) Supply Wolumen volume sprzedaży hydro power - el. wodne plants Supply Wolumen volume sprzedaży wind farms - el.wiatrowe Cena Certificate sprzedaży sales certyfikatu price Amortyzacja Depreciation Other Pozostałe revenue/ przychody costs / koszty EBIT EBIT I-III Q1 213 (wyk.) 213 (result) Increase Decrease 33
Distribution key financial data Change of: Revenue EBITDA EBIT in the segment (in PLNm) 1 8 1 6 1 4 1 2 1 8 6 4 2 1 562 1 541 447 525 229 31 Q1 212 Q1 213 34
Distribution EBIT bridge PLNm 35 3 7 17 (6) (7) 31 25 229 21 2 (17) (8) 15 1 5 EBIT EBIT I-III Q1 212 (wyk.) 212 (result) Sales Wolumen volume Cena Sales sprzedaży price Poz. Other przychody revenue sprzedaży usług usług dystr. zw. z dystrybucją distribution distribution from dystr. services services distribution Jedn. Variable koszty zmienne costs per unit Fixed Koszty costs stałe Wynik Result na on pozostałej other działalności operations podst. Pozostałe Other przychody revenue/ / costs koszty EBIT EBIT I-III Q1 213 (wyk.) 213 (result) Increase Decrease 35
Supply key financial data Change of: Revenue EBITDA EBIT in the segment (in PLNm) 6 5 4 3 2 4 55 4 791 1 348 339 11 94 Q1 212 Q1 213 36
Supply EBIT bridge PLNm 4 35 19 2 339 81 (6) 3 25 93 2 15 84 1 94 5 (32) EBIT I-III 212 EBIT (wyk.) Q1 212 (result) Wolumen sprzedaży Electricity energii sales elektrycznej volume Cena Electricity energii elektrycznej sales price Cena PM Price zielonych of green certificates Lack Brak of PM red czerwonych i and yellow zółtych certificates Excise Akcyza tax Other Poz. towary, goods, usługi commercial handlowe services Pozostałe przychody Other / revenue/ koszty costs EBIT EBIT I-III Q1 213 (wyk.) 213 (result) Increase Decrease 37
Heat key financial data Change of: Revenue EBITDA EBIT in the segment (in PLNm) 45 4 35 3 25 2 15 1 5 384 4 11 96 78 7 Q1 212 Q1 213 38
Heat EBIT bridge PLNm 12 1 12 7 8 78 4 (9) 7 (19) (2) 6 4 2 EBIT EBIT I-III Q1 212 (wyk.) 212 (result) Wolumen Heat dystrybucji ciepła distribution volume Cena Heat sprzedaży sales ciepła price Marża na Margin on certyfikatach certificates Koszty Fixed stałe costs bez amortyzacji less depreciation Rezerwa Provision na koszty for niedoboru costs to cover CO2 CO 2 shortage Pozostałe Other przychody revenue/ / costs koszty EBIT EBIT I-III Q1 213 (wyk.) 213 (result) Increase Decrease 39
Customer Service key financial data Change of: Revenue EBITDA EBIT in the segment (in PLNm) 12 1 8 6 4 2 84 14 13 12 1 9 Q1 212 Q1 213 4
Customer Service EBIT bridge PLNm 45 11 4 35 3 21 (13),5 25 2 15 1 1 (21),3 9 5 EBIT I-III 212 EBIT Q1 (wyk.) 212 (result) Increase Przychody CUW IT Przychody CUW R Shared Shared Services IT Services revenue Accounting revenue Przychody Shared CUW Services OK Customer Service revenue Przychody CUW Shared HR Services HR revenue Costs Koszty of services Pozostałe Other revenue/ świadczonych provided usług przychody / koszty costs EBIT I-III 213 EBIT Q1 (wyk.) 213 (result) Decrease 41
Other key financial data Change of: Revenue EBITDA EBIT in the segment (in PLNm) 12 1 8 6 4 112 14 2 11 9 2,1 Q1 212 Q1 213 42