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Lubelski Węgiel
Lubelski Węgiel Bogdanka S.A.

Results of the LW Bogdanka Group for Q1 2019: strong financial and operational performance

Wednesday, 2019-05-29


Bogdanka, 29 May 2019.



LW BOGDANKA S.A., the most modern and effective hard coal mine in Poland, making part of the Enea Group – one of the leaders in the Polish power market, has announced consolidated financial results for the first quarter of 2019. Consolidated revenue for that period amounted to PLN 540.8 million (increase by 35.6%), EBITDA – PLN 222.9 million (+74.8%), operating profit – PLN 128 million (+348.9%), and net profit – PLN 110 million (+374.6%).

In the first quarter of 2019 LW Bogdanka S.A. drilled 7.9 km of roadway excavations. In this period, the production of commercial coal amounted to over 2.5 million tonnes, which translates into a year-to-year increase of about 21%. Coal sales amounted to almost 2.4 million tonnes, which represents an increase of about 20% compared with the previous year. The average yield amounted to 64.7%, in comparison to 56.7% the year before.

In Q1 LW Bogdanka S.A. also strengthened its market position reaching a high (26%) share in the sales of coal to commercial power plants. The share in total power coal sales accounted for 20%.

About 85% of sales generated during the first quarter of 2019 were executed for Enea Wytwarzanie and Enea Połaniec.

In Q1 of 2019, the LW Bogdanka Group had investment expenditure close to PLN 80 million. The largest portion of this sum, i.e. PLN 62.4 million, was used for new excavations and modernisation of the existing ones.

Artur Wasil, President of the Management Board at LW Bogdanka S.A.:
We entered 2019 well-prepared, which reflected in the great results for the first quarter. The improvement of our results in this period was due to both increased production and sales, as well as higher contractual prices as of January of this year. We maintain the intention to increase production to 9.4 million tonnes this year. Our priority is also continuous work on costs and operational excellence, in addition to preparing ourselves to make the Ostrów deposit available by the end of next year. Considering the Company’s good standing, we have decided to recommend payment of dividend at PLN 0.75 per share, thus distributing about 49.4% of net profit generated in 2018.

Financial results of the LW Bogdanka Group for Q1 2019 are presented in the table below:

PLN ‘000 Q1  2019 Q1  2018 Change
   Net revenue 540,787 398,697 + 35.6%
   EBITDA 222,860 127,476 + 74.8%
   EBIT 127,966 28,509 + 348.9%
   Net profit 109,969 23,169 + 374.6%


photo - Bogdankain the fog


For further information please contact:

Magda Kołodziejczyk, M+G
phone (+48) 22 416 01 02, 501 16 88 07
e-mail: magda.kolodziejczyk@mplusg.com.pl  

Paulina Grocka, M+G
phone (+48) 22 416 01 02, 514 044 194
e-mail: paulina.grocka@mplusg.com.pl


Lubelski Węgiel BOGDANKA S.A. is the most modern and one of the largest hard coal mines in Poland. In 2018, the production of Bogdanka’s commercial coal amounted to 9 million tonnes.

LW Bogdanka conducts mining activity with respect to extraction, agglomeration and sale of hard coal. The BOGDANKA mine supplies mainly the industrial customers based in the eastern and north-eastern Poland. The market of customers is stable, and the sale is carried out mainly under long-term agreements. LW BOGDANKA’s major commercial coal sales channels are commercial power and industrial power industries. 

The Company’s financial results and hard coal extraction efficiency distinguish the Company from other organisations in the industry. LW Bogdanka S.A. has been listed on the Warsaw Stock Exchange since July 2009. In December 2018, the Company was qualified by the WSE to a prestigious RESPECT Index rating, already for the tenth time.

Since October 2015, LW Bogdanka S.A. has been part of the Enea Group, one of the leaders of the Polish power market.


For further information visit www.bogdanka.eu

Today is:
03 of July 2020
Name day of:
Anatola, Jacka, Mirosławy
© LW „Bogdanka” S.A. - 2018
Realization: Data Flow sp. z o.o.