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PGPKY PGE Polska Energetyczna SA (PK)

4.13
0.00 (0.00%)
02 Jul 2024 - Closed
Delayed by 15 minutes
Name Symbol Market Type
PGE Polska Energetyczna SA (PK) USOTC:PGPKY OTCMarkets Depository Receipt
  Price Change % Change Price Bid Price Offer Price High Price Low Price Open Price Traded Last Trade
  0.00 0.00% 4.13 2.22 4.84 0.00 21:00:02

Poland's PGE Sees 4Q Earnings Weighed by One-Time Events

20/02/2013 7:14am

Dow Jones News


PGE Polska Energetyczna (PK) (USOTC:PGPKY)
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WARSAW--Poland's PGE Polska Grupa Energetyczna SA (PGE.WA) said late Tuesday it expects a series of one-time events to weigh on its fourth-quarter net profit by about 1.21 billion zloty ($391 million).

MAIN FACTS:

-The state-controlled company plans to write-down the value of its Dolna Odra power plant by PLN1.49 billion.

-PGE will write-down by PLN156 million its project to capture and store carbon dioxide because a lack of joint financing from the European Union prevented it from getting other financing for the experimental project.

-The company will report a gain of about PLN1.25 billion at its conventional energy core business.

-This gain results from higher compensation for favorable long-term contracts made in previous years, since cancelled, whose formula has taken into account that power prices have fallen.

-PGE is scheduled to release its fourth-quarter consolidated earnings reports March 14.

Write to Marynia Kruk at marynia.kruk@dowjones.com

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1 Year PGE Polska Energetyczna (PK) Chart

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