Reported Earnings • May 29
First quarter 2026 earnings released: EPS: zł1.88 (vs zł1.19 in 1Q 2025) First quarter 2026 results: EPS: zł1.88 (up from zł1.19 in 1Q 2025). Revenue: zł6.30b (up 9.2% from 1Q 2025). Net income: zł778.0m (up 58% from 1Q 2025). Profit margin: 12% (up from 8.5% in 1Q 2025). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 12% per year but the company’s share price has increased by 36% per year, which means it is well ahead of earnings. お知らせ • May 18
Energa SA, Annual General Meeting, Jun 12, 2026 Energa SA, Annual General Meeting, Jun 12, 2026, at 10:00 Central European Standard Time. お知らせ • May 13
Energa SA has filed a Follow-on Equity Offering in the amount of PLN 5.106828 billion. Energa SA has filed a Follow-on Equity Offering in the amount of PLN 5.106828 billion.
Security Name: Series CC Shares
Security Type: Common Stock
Securities Offered: 276,044,742
Price\Range: PLN 18.5
Transaction Features: Rights Offering お知らせ • May 19
Energa SA, Annual General Meeting, Jun 13, 2025 Energa SA, Annual General Meeting, Jun 13, 2025. お知らせ • Jan 30
Energa Group Appoints Pawel Olechnowicz as Member of the Supervisory Board, Effective 1 February 2025 As of 1 February 2025 Pawel Olechnowicz, former CEO of Lotos, is due to be appointed to the position of member of the Supervisory Board of Energa Group, one of four largest energy companies in Poland, after in December 2024 he was appointed as direct adviser to ORLEN's CEO Ireneusz Fafara. At Orlen, which is the majority shareholder of Energa, Olechnowicz is to oversee the development of renewable energy and energy storage solutions while according to unofficial sources, he may also be tasked with regaining total control over the Gdansk Refinery. Reported Earnings • Nov 17
Third quarter 2024 earnings released: EPS: zł0.22 (vs zł0.50 in 3Q 2023) Third quarter 2024 results: EPS: zł0.22 (down from zł0.50 in 3Q 2023). Revenue: zł5.22b (up 3.1% from 3Q 2023). Net income: zł93.0m (down 55% from 3Q 2023). Profit margin: 1.8% (down from 4.1% in 3Q 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 49% per year but the company’s share price has increased by 21% per year, which means it is well ahead of earnings. Reported Earnings • Aug 22
Second quarter 2024 earnings released: EPS: zł0.99 (vs zł0.32 loss in 2Q 2023) Second quarter 2024 results: EPS: zł0.99 (up from zł0.32 loss in 2Q 2023). Revenue: zł5.35b (up 2.6% from 2Q 2023). Net income: zł410.0m (up zł543.0m from 2Q 2023). Profit margin: 7.7% (up from net loss in 2Q 2023). The move to profitability was primarily driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 33% per year but the company’s share price has increased by 25% per year, which means it is well ahead of earnings. お知らせ • Jun 01
Energa SA Appoints Slawomir Staszak as Acting CEO Energa SA appointed Slawomir Staszak, the current deputy CEO, as acting CEO until a new CEO is appointed. New Risk • May 24
New major risk - Financial position The company's interest payments are not well covered by earnings. Net interest cover: 0.7x This is considered a major risk. If the company is unable to fund interest repayments on its debt through profits, it may be forced into reducing its debt burden through selling assets, undertaking a potentially costly capital raising or even into bankruptcy in the worst case scenario. This is currently the only risk that has been identified for the company. お知らせ • May 17
Energa SA Provides Earnings and Production Guidance for the First Quarter of 2024 Energa SA provided earnings and production guidance for the first quarter of 2024. For the quarter, the company estimates net profit at PLN 431 million (EUR 101.1 million), compared to PLN 1.6 billion (EUR 375.2 million) profit a year earlier. Revenue is estimated at PLN 6.254 billion (EUR 1.5 billion), and EBIT at PLN 774 million (EUR 181.5 million).The company estimates gross electricity generation at 870 GWh (vs. 1,009 GWh in First Quarter 2023), electricity distribution at 6,105 GWh (vs. 5,828 GWh a year ago), and retail electricity sales at 4,605 GWh (vs. 4,583 GWh a year ago). New Risk • Apr 30
New major risk - Financial position The company's interest payments are not well covered by earnings. Net interest cover: 2.4x This is considered a major risk. If the company is unable to fund interest repayments on its debt through profits, it may be forced into reducing its debt burden through selling assets, undertaking a potentially costly capital raising or even into bankruptcy in the worst case scenario. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (2.4x net interest cover). High level of non-cash earnings (23% accrual ratio). Minor Risk Profit margins are more than 30% lower than last year (2.4% net profit margin). Reported Earnings • Apr 30
Full year 2023 earnings released: EPS: zł1.49 (vs zł2.34 in FY 2022) Full year 2023 results: EPS: zł1.49 (down from zł2.34 in FY 2022). Revenue: zł26.1b (up 30% from FY 2022). Net income: zł617.0m (down 36% from FY 2022). Profit margin: 2.4% (down from 4.8% in FY 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 33% per year but the company’s share price has only increased by 7% per year, which means it is significantly lagging earnings growth. お知らせ • Apr 21
Energa SA Appoints Roman Szyszko and Slawomir Staszak as Deputies of the Board of Directors, Effective April 20, 2024 Energa SA appointed Roman Szyszko and Slawomir Staszak as deputies of the board of directors, effective April 20, 2024. Valuation Update With 7 Day Price Move • Feb 21
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to €2.82, the stock trades at a trailing P/E ratio of 4.8x. Average trailing P/E is 9x in the Electric Utilities industry in Europe. Total returns to shareholders of 70% over the past three years. New Risk • Nov 01
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 4.3% Last year net profit margin: 8.1% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. This is currently the only risk that has been identified for the company. Reported Earnings • Nov 01
Third quarter 2023 earnings released Third quarter 2023 results: Revenue: zł6.06b (up 10.0% from 3Q 2022). Net income: zł206.0m (down 60% from 3Q 2022). Profit margin: 3.4% (down from 9.3% in 3Q 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 82% per year but the company’s share price has only increased by 2% per year, which means it is significantly lagging earnings growth. New Risk • Aug 28
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 24% This is considered a major risk. Non-cash earnings can arise from many different things. However, if a company consistently has a high level of non-cash earnings, it may be a sign that they are recognizing revenue from customers before the full value of the sales are received as cash or they are not depreciating the value of their assets appropriately. These are practices that inflate earnings, while not providing a similar increase to cash flows. Companies in some select industries naturally have a high level of non-cash earnings and it is not a major concern. However, in the worst case scenario it can be an early sign of performance manipulation by management. This is currently the only risk that has been identified for the company. Reported Earnings • Aug 28
Second quarter 2023 earnings released Second quarter 2023 results: Revenue: zł6.01b (up 31% from 2Q 2022). Net loss: zł133.0m (down 130% from profit in 2Q 2022). Over the last 3 years on average, earnings per share has increased by 104% per year but the company’s share price has only increased by 3% per year, which means it is significantly lagging earnings growth. お知らせ • Aug 01
ORLEN Projekt Spolka Akcyjna signed an agreement to acquire Energa Invest SA from Energa SA (WSE:ENG). ORLEN Projekt Spolka Akcyjna signed an agreement to acquire Energa Invest SA from Energa SA (WSE:ENG) on July 31, 2023. Reported Earnings • May 30
First quarter 2023 earnings released First quarter 2023 results: Revenue: zł7.42b (up 50% from 1Q 2022). Net income: zł1.56b (up 159% from 1Q 2022). Profit margin: 21% (up from 12% in 1Q 2022). The increase in margin was driven by higher revenue. Valuation Update With 7 Day Price Move • May 18
Investor sentiment improves as stock rises 23% After last week's 23% share price gain to €1.91, the stock trades at a trailing P/E ratio of 2.2x. Average trailing P/E is 9x in the Electric Utilities industry in Europe. Total returns to shareholders of 13% over the past three years. Reported Earnings • Dec 01
Third quarter 2022 earnings released Third quarter 2022 results: Revenue: zł5.51b (up 66% from 3Q 2021). Net income: zł514.0m (up 71% from 3Q 2021). Profit margin: 9.3% (up from 9.0% in 3Q 2021). The increase in margin was driven by higher revenue. お知らせ • Nov 08
Energa SA to Report Q3, 2022 Results on Nov 29, 2022 Energa SA announced that they will report Q3, 2022 results on Nov 29, 2022 お知らせ • Aug 23
Energa SA Appoints Zofia Paryla as CEO, Effective from September 1, 2022 Energa SA appointed Zofia Paryla as CEO, effective as of September 1, 2022. Paryla earlier served as fuel group Lotos CEO (in years 2020-2022). From 2019 to 2020, she was Lotos's CFO, and still earlier, between 2017 and 2018, she held the function of the vice president of Energa's unit Energa CUW. お知らせ • Apr 27
Energa Appoints Michal Perlik as CFO Energa, unit of fuel concern PKN Orlen, appointed Michal Perlik as CFO. Perlik has been Orlen's executive director for finance since 2020. お知らせ • Apr 26
Energa SA, Annual General Meeting, May 20, 2022 Energa SA, Annual General Meeting, May 20, 2022, at 10:00 Central European Standard Time. お知らせ • Apr 22
Energa Appoints Daniel Obajtek as Interim CEO Energa appointed Orlen CEO Daniel Obajtek as interim CEO. Is New 90 Day High Low • Sep 22
New 90-day low: €1.64 The company is down 11% from its price of €1.83 on 24 June 2020. The German market is up 4.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Electric Utilities industry, which is up 1.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €1.23 per share. お知らせ • Jul 30
Polski Koncern Naftowy ORLEN Spólka Akcyjna (WSE:PKN) completed the acquisition of 80.01% stake in Energa SA (WSE:ENG) for PLN 2.8 billion. Polski Koncern Naftowy ORLEN Spólka Akcyjna (WSE:PKN) launched a tender offer to acquire Energa SA (WSE:ENG) for PLN 2.9 billion on December 5, 2019. Under the terms of the acquisition, PKN ORLEN will acquire 414,067,114 shares of Energa consisting of 269,139,114 ordinary bearer shares and 114,928,000 certificated shares for PLN 7 per share. As reported on April 15, 2020, the offer price was increased to PLN 8.35 per share. On April 18, 2020, ORLEN signed an agreement for the acquisition of Energa. The transaction is subject to a resolution amending the articles of association of the Energa, to waive the voting restrictions referred to in 27(1)-(7) of the Articles of Association; the Supervisory Board of Energa has adopted a resolution adopting a consolidated text of the Articles of Association pursuant to § 17(1)(15) of the Articles of Association; the number of Shares subscribed for sale under the Tender Offer corresponds at least 66% of the aggregate number of votes; and a due diligence audit of Energa. As of February 26, 2020, Polski Koncern Naftowy ORLEN Spólka Akcyjna filed an application to European Commission to get the approval of the transaction and European Commission decision is expected to announce in first quarter of 2020. The European Commission (EC) approved the transaction on March 31, 2020. As of April 20, 2020, the condition reserved in the tender offer has been fulfilled. Shareholders in Energa will have between January 31, 2020 and April 9, 2020 to subscribe to the tender offer. The transaction is expected to complete on April 20, 2020. On March 26, 2020, ORLEN announced the decision to extend the subscription period until April 22, 2020. Maciej Mataczynski, Tomasz Jaranowski and Magdalena Cisowska of Sojka Maciak Mataczynski acted as legal advisors to Polski Koncern Naftowy ORLEN Spólka Akcyjna.
Polski Koncern Naftowy ORLEN Spólka Akcyjna (WSE:PKN) completed the acquisition of 80.01% stake in Energa SA (WSE:ENG) for PLN 2.8 billion on April 22, 2020. Polski Koncern Naftowy ORLEN Spólka Akcyjna acquired 331.3 million shares in the offer. Powszechna Kasa Oszczednosci Bank Polski S.A. Oddzial - Biuro Maklerskie acted as intermediary in the tender offer. お知らせ • Jul 10
Energa SA to Report First Half, 2020 Results on Jul 30, 2020 Energa SA announced that they will report first half, 2020 results on Jul 30, 2020