Polenergia’s profit grows 28% in Q1

Polenergia has unveiled its strategy for 2020-2024, which will reinforce its position among the leaders of the Polish renewable energy market. During the first quarter of 2020, the energy group improved its financial performance. The company’s adjusted net profit grew 28 percent y-o-y to PLN 51m, whereas the adjusted EBITDA increased 17 percent y-o-y, exceeding PLN 94m. “We are now stronger than ever before, and we are ready to shape the future of the energy market in Poland. After the full implementation of the strategy, we will strengthen our position among the leaders of the renewable energy market. We will not only be a group with an increased scale of business in terms of installed generation capacity and financial performance but first of all a group with a huge growth potential arising from continued organic growth of the renewable project and assuming a position allowing for development based on generation and combustion of hydrogen,” said Michał Michalski, CEO of Polenergia.