As at December 31st 2021, the share capital of PGNiG was approximately PLN 5.78bn.
|Shareholders||Number of shares/voting rights as at December 31st 2020||Percentage ownership/voting interest in the Company as at December 31st 2020||Change in 2021||Number of shares/voting rights as at December 31st 2021||Percentage of share capital/voting rights at GM as at December 31st 2021|
For information on shares in PGNiG and its related companies held by members of the Management and Supervisory Boards, see Corporate governance chapter.
Since September 23rd 2005, the PGNiG shares have been listed in the continuous trading system of the main market on the Warsaw Stock Exchange. The issue price per share in the Company’s public offering was PLN 2.98. In 2021, PGNiG shares were included in the following indices: WIG, WIG20, WIG30, WIG-Poland, WIG-ESG, WIGdiv, WIG-PALIWA sectoral index and WIG. MS-PET macrosectoral index.
In 2021, the annual rate of return on Company shares, net of dividend, was 13%. Over the same period, the sectoral index WIG PALIWA and the blue-chip index WIG20, yielded rates of return of 29% and 13%, respectively. The PGNiG share price movements ranged from -12% (the lowest closing price of PLN 5.46 on November 30th 2021) to +12% (the highest closing price of PLN 6.98 on April 14th 2021) relative to the 2021 average closing price of PLN 5.46. To compare, the range of movements of the WIG20 index was from -14% (year low of 1,876.85 points on March 25th 2021) to +14% (year high of 2,472.33 points on October 12th 2021) relative to the 2021 average.
Source: WSE – Warsaw Stock Exchange.
* Rebased to PGNiG share price.
|Key metrics||Unit||2021||2020||2019||2018||2017||Change (%)
|Net profit attributable to owners of the parent||PLNm||6,014||7,340||1,371||3,209||2,923||-16%|
|Earnings per share1||PLN||1.04||1.27||0.24||0.56||0.51||-16%|
|Share price at the close of the last session of the year||PLN||6.3||5.54||4.33||6.91||6.29||14%|
|Average stock price in the year2||PLN||6.2||4.4||5.59||6.12||6.33||41%|
|Number of shares outstanding||million
|Capitalisation at year end||PLNm||36,401||32,023||25,019||39,928||36,346||14%|
|Average daily trading volume||million
|Average daily trading value||PLNm||25.75||24.45||27.62||24.2||21.7||5%|
|P/E at average share price||–||5.79||3.46||23.56||11.02||12.52||67%|
|P/E at year end||–||5.89||4.36||18.25||12.44||12.44||35%|
|P/BV at year end||–||0.36||0.73||0.66||1.09||1.08||-51%|
|Dividend per share3||PLN||0.21||0.09||0.18||–||0.2||133%|
In 2021, in the performance of its disclosure obligations, PGNiG published 52 current reports, including reports on: amendments to trade contracts, execution of letters of intent, acquisition and merger processes, administrative decisions, as well as operating and financial results.
The Company held four public teleconferences (for analysts and investors) and press conferences following each release of its periodic reports. It also prepared an integrated report for 2020, presenting a wealth of information on the oil and gas market and the PGNiG Group growth initiatives. In 2021, representatives of PGNiG held close to 30 meetings with investors and stock analysts, mostly in the form of video conferences.
As part of the ‘Best Annual Report 2020’ competition, in October 2021 PGNiG was ranked among the ‘Best of the Best’ group of entities whose financial reporting is a benchmark and may serve as an example of good practices in communication with stakeholders. The competition was organised by the Institute of Accountancy and Taxes.
The PGNiG Group's Strategy for 2017–2022 provides for distribution of up to 50% of consolidated net profit as dividend, with the proviso that in recommending dividend payments the PGNiG Management Board must always take into account the PGNiG Group’s current financial condition and investment plans.
|Dividend for financial year (PLNbn)||1.21||0.52||1.04||–||1.16||1.06||1.18|
|Dividend per share (PLN)||0.21||0.09||0.18||–||0.2||0.18||0.2|
|Average annualised share price (PLN)||4.4||5.59||6.12||6.33||5.16||5.94||4.85|
On July 9th 2021, the Annual General Meeting of PGNiG, acting in line with the recommendation of the PGNiG Management Board of May 25th 2021, resolved to distribute PLN 6,908,548,870.60, comprising PGNiG S.A.’s net profit for 2020 of PLN 6,908,551,193.11 and accumulated loss brought forward of PLN 2,322.51 resulting from correction of prior period, as follows:
The Annual General Meeting of PGNiG also set the dividend record date for July 19th 2021 and the dividend payment for August 3rd 2021.
Since its IPO, PGNiG has paid a total dividend of PLN 1.29 per share. The absolute rate of return on the shares since the IPO, including dividends, was 155% as at the end of 2021.
Credit rating is an evaluation of the creditworthiness of a business entity or of the risk associated with various financial instruments. Credit ratings are assigned by credit rating agencies, which apply a rating scale with letter and number designations and plus or minus signs to adjust the rating upwards or downwards.
PGNiG received two rating outlooks listed below:
|Agency*||Rating||Outlook||The last update||Link|
|Fitch Ratings||BBB||stable||19.05.2022||Press release|
|Moody’s Investors Service||Baa2||stable||22.07.2020||Press release|
* On January 29th Standard & Poor’s withdrew the rating „BBB-„, outlook „stable” at the issuer’s request.