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31 Aug 2018, Gergana Bencheva, EMIS Editor

Polish PGNiG’s net profit rises 8% y/y in H1 2018

Polish gas major PGNiG saw its net profit jump by 8% on an annual basis to PLN 2.27 billion for the first half of 2018, the Polish News Bulletin (PNB) reported. Over the reported period, EBITDA rose by 3% to PLN 4.3 billion and revenues went up by 11% to PLN 20.89 billion.

The company also managed to diversify its imports, especially LNG supplies which rose by 18% between January and June this year. Its CEO, Piotr Wozniak, commented that over the reported period sales of gas in Poland climbed by 8% thanks to the country’s fast economic growth and the rising needs of gas-fuelled power plants.

PGNiG’s revenues for the second quarter of the year alone rose by 7% to PLN 7.64 billion and net profit soared by 41% year-on-year, PNB added.

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