The excellent results generated throughout 2024 are mainly due to the onshore wind farms owned by Polenergia. The Group's very good financial position creates a solid foundation for further development and a leap in wind energy production in the coming years - this time thanks to the Bałtyk offshore wind farm projects we are developing together with Equinor.
In Q4 2024 alone, Polenergia achieved EBITDA of PLN 97.3 million and adjusted net profit of PLN 10.5 million. This was largely influenced by non-recurring events, including write-offs, provisions and one-time costs. Excluding them from the Q4 account, EBITDA for the period would have been PLN 152.2 million.
In the last quarter of 2024, there were one-time events. The results were affected by, among other things, inventory write-downs in the trading and sales segment and provisions made in the distribution segment. In addition, the past year was charged with the cost of salaries of board members whose terms of office expired at the end of the year. In total, the impact of non-recurring events in the period amounted to PLN 54.9 million. Excluding them from the results, EBITDA for the fourth quarter would have increased by 19% compared to the same period a year ago. This shows that the business is generating recurring profits, and that the group is ready to implement groundbreaking offshore wind farm projects.
The presented results are preliminary and subject to change. The final figures will be presented in detail in Polenergia’s consolidated annual report for 2024. Its publication is scheduled for March 25, 2025.
Polenergia is a leading producer of renewable energy in Poland. The group currently operates 13 onshore wind farms with a capacity of 493 MW and six photovoltaic farms with a total capacity of 82 MW.
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