Segment performance
Revenue in the Generation segment in 2018–2021
| Generation financial data | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|
| Revenue from non- PGNiG Group customers | 2,381 | 1,844 | 1,606 | 1,617 |
| Inter-segment revenue | 1,042 | 929 | 959 | 770 |
| Total revenue, including: | 3,423 | 2,773 | 2,565 | 2,387 |
| heat | 1,753 | 1,469 | 1,330 | 1,322 |
| electricity | 1,239 | 1,053 | 997 | 802 |
| heat distribution | 96 | 78 | 75 | 74 |
| Operating profit before interest, taxes, depreciation and amortisation (EBITDA) | 1,134 | 930 | 856 | 788 |
| Operating profit (EBIT) | 55 | 135 | 149 | 316 |
Operating expenses in the Generation segment in 2018–2021
| 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|
| Total costs, including: | -3,368 | -2,638 | -2,416 | -2,071 |
| raw materials and consumables used | -1,636 | -1,166 | -1,120 | -1,034 |
| employee benefits expense | -238 | -234 | -219 | -205 |
| services | -244 | -207 | -195 | -191 |
| taxes and charges | -76 | -65 | -65 | -77 |
| other income and expenses | -95 | -171 | -111 | -93 |
| work performed by the entity and capitalised | 0 | 0 | 1 | 1 |
| recognition and reversal of impairment losses on property, plant and equipment and intangible assets | 0 | -7 | 0 | 16 |
| amortisation | -1,079 | -795 | -707 | -472 |
- revenue from sales of electricity generated from the segment’s own sources higher by 19% year on year, at PLN 1,084m, with market prices rising and with sales volumes lower by -4% year on year;
- higher revenue from sales of heat (19% year on year) at PLN 1.75bn, with lower average temperature and a rise in sales volumes (+6% year on year);
- costs of coal stable year on year, at PLN 808m in 2021, and cost of biomass lower by PLN 9m year on year, at PLN 71m in 2021;
- PLN -284m year-on-year increase in depreciation and amortisation expense, includin CO2 depreciation and amortisation of PLN 972m.
Capital expenditure made in 2021 on the PGNiG Group’s property, plant and equipment in the Generation segment was PLN 2,135m (including PLN 582m attributable to CO2).
PGNiG TERMIKA’s financial performance
| PGNiG TERMIKA (PLNm) | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|
| Revenue | 2,894 | 2,357 | 2,176 | 2,016 |
| EBITDA | 985 | 836 | 777 | 687 |
| EBIT | 68 | 150 | 147 | 286 |
| Net profit/loss | 7 | (519)* | (89) | 208 |
| Total assets | 7,543 | 6,533 | 6,876 | 5,949 |
| Equity | 2,656 | 2,612 | 3,133 | 3,415 |