capital Group PGNiG generated over PLN 15.5bn in EBITDA – the president of PGNiG, Paweł Majewski, announced in a press release. In 2020, it was PLN 13 billion.
–
One segment screwed up the results
Segment Exploration and Production in the entire year 2021 recorded PLN 13.53 billion EBITDA, compared to PLN 0.93 billion a year earlier. The negative EBITDA result, in turn, was generated by the Trade and Storage segment – it was at the level of minus PLN 1.7 billion, compared to PLN 9.58 billion in 2020.
–
In the fourth quarter alone, PGNiG estimates EBITDA at PLN 8.2bn, compared to just over PLN 2.3bn a year earlier. – Virtually all of the EBITDA from the fourth quarter remained just developed in the Exploration and Production segment – emphasized the president. The segment generated – according to estimates – PLN 8.1 billion.
–
See also: Where does inflation come from? “I am irritated by the two-sidedness of this discussion”
—
This is primarily the result of a consistently developed activity in the upstream segment, including thanks very favorable the transaction acquisition of 21 Norwegian concessions from the INEOS concern – assessed Paweł Majewski.
–
The turmoil in the gas market hit the giant
This year, it is particularly difficult for PGNiG there were high prices and large fluctuations in natural gas quotations. Hence the negative result of the Trade and Storage segment.
–
—
The extreme market conditions we dealt with throughout the entire fourth quarter of 2021 posed a challenge to the liquidity situation of many European gas trading companies, stressed Przemysław Wacławski, vice president of finance.
–
As he recalled, in connection with the increased demand for working capital, PGNiG concluded additional bank loan agreements, which secured the group’s liquidity needs.
–
Thanks to this, PGNiG maintained the efficient functioning of the entire group, even in the most critical moments of December 2021, when gas fuel prices fluctuated around EUR 150 per MWh and were several hundred percent higher than a year earlier – assessed Przemysław Wacławski.
–
—
Polskie Górnictwo Naftowe i Gazownictwo SA is a listed company. It deals with the exploration and production of natural gas and oil oil, gas imports, and, through key companies, storage, sale, distribution of gaseous and liquid fuels and the production of heat and electricity. In Poland, PGNiG is the largest importer and supplier of natural gas.
–
–
Source:
