25/2021
25/2021
Information on preliminary financial results for three quarters of 2021 and update of the production target.
Current Report No. 25/2021
Date of preparation: 14 October 2021
Subject: Information on preliminary financial results for three quarters of 2021 and update of the production target.
Legal basis: Article 17.1 of MAR – Inside Information
Content:
The Management Board of Lubelski Węgiel Bogdanka S.A. (the “Company”) hereby announces that on 14 October 2021 it was informed of the preliminary financial results of the LW Bogdanka Group for three quarters of 2021 (Q1-Q3 2021) and decided to make them public:
Consolidated financial results of the LW Bogdanka Group for Q1-Q3 2021:
Net revenue from sales: PLN 1,668.5 million
EBITDA: PLN 538.3 million
EBIT: PLN 212.8 million
Net profit: PLN 164.8 million
The production of commercial coal in the period under discussion amounted to 7.5 million tonnes, and sales – 7.2 million tonnes.
Having considered the shift in demand for thermal coal, which occurred at the turn of the year, the Management Board took actions aimed at taking full advantage of the Company’s current production capacity. The decision is based on the analysis of the current market conditions, the desire to benefit from the economic situation as well as the need to provide stable coal supplies to Company’s clients.
Given the above, having concluded Q3 with production result of over 2.5 million tonnes and bearing in mind continued high demand for thermal coal, the Company hereby updates the production target for 2021 announced on 25 March 2021 to the level of 9.6 million tonnes of commercial coal.
The above is consistent with the production assumptions for 2021-2025 announced in the Development Strategy of LW Bogdanka S.A. from the Mining Area of the ENEA Group until 2030 (under the 2040 framework).
In the period under analysis, there were no instances of one-off events that would have a material impact on the presented results.
The results in their final version will be presented in detail in the Consolidated Quarterly Report of the LW Bogdanka Group for three quarters of 2021, the publication of which is scheduled for 25 November 2021.
Date of preparation: 14 October 2021
Subject: Information on preliminary financial results for three quarters of 2021 and update of the production target.
Legal basis: Article 17.1 of MAR – Inside Information
Content:
The Management Board of Lubelski Węgiel Bogdanka S.A. (the “Company”) hereby announces that on 14 October 2021 it was informed of the preliminary financial results of the LW Bogdanka Group for three quarters of 2021 (Q1-Q3 2021) and decided to make them public:
Consolidated financial results of the LW Bogdanka Group for Q1-Q3 2021:
Net revenue from sales: PLN 1,668.5 million
EBITDA: PLN 538.3 million
EBIT: PLN 212.8 million
Net profit: PLN 164.8 million
The production of commercial coal in the period under discussion amounted to 7.5 million tonnes, and sales – 7.2 million tonnes.
Having considered the shift in demand for thermal coal, which occurred at the turn of the year, the Management Board took actions aimed at taking full advantage of the Company’s current production capacity. The decision is based on the analysis of the current market conditions, the desire to benefit from the economic situation as well as the need to provide stable coal supplies to Company’s clients.
Given the above, having concluded Q3 with production result of over 2.5 million tonnes and bearing in mind continued high demand for thermal coal, the Company hereby updates the production target for 2021 announced on 25 March 2021 to the level of 9.6 million tonnes of commercial coal.
The above is consistent with the production assumptions for 2021-2025 announced in the Development Strategy of LW Bogdanka S.A. from the Mining Area of the ENEA Group until 2030 (under the 2040 framework).
In the period under analysis, there were no instances of one-off events that would have a material impact on the presented results.
The results in their final version will be presented in detail in the Consolidated Quarterly Report of the LW Bogdanka Group for three quarters of 2021, the publication of which is scheduled for 25 November 2021.