Enea Group results conference
At Enea Group's joint results conference, held on 18 April in Warsaw, analysts and journalists had the opportunity to learn the details of the Group’s financial and operating results for 2023.
The conference summarized the achievements of Bogdanka and the Enea Group, and discussed prospects for future periods. Let us recall that Bogdanka already published its results on 20 March, achieving in 2023 the highest revenues and the highest profits in its entire history.
LW Bogdanka Group's revenues stood at PLN 3,939.3 million, EBITDA reached PLN 1,345.2 million and profit on sales was PLN 896.5 million. Net profit, in turn, was PLN 687.1 million, a 291% year-on-year increase. Commercial coal production in 2023 was 7.1 million tons, and sales were 6.7 million tons.
The highest financial results in Bogdanka's history confirm our role as one of the leading suppliers of hard coal to the energy sector and one of the most efficient companies in the Polish mining industry. Today Bogdanka is in a very good economic position. These achievements were made possible by the dedication and determination of our staff, cooperation with the Enea Group and efficient management of the mine, including an effective cost management policy. The cash flow generated by the Company currently provides stability in the financing of operating and investment activities. The 2023 results are particularly satisfying, given that they were achieved at a complicated and challenging time for our mine and the entire mining industry in Poland.
- said Artur Wasilewski, Vice-President of the LW Bogdanka S.A. Management Board for Economic and Financial Affairs.
Lubelski Węgiel Bogdanka S.A. is a leading hard coal producer in Poland that stands apart from its peers in terms of its modern and efficient mining. It is one of the largest Polish hard coal mines. Lubelski Węgiel Bogdanka S.A. chiefly conducts mining operations in terms of hard coal extraction, enrichment and sales. It supplies this raw material mainly to industrial offtakers. Supply contracts are long-term, and the product is sold to the commercial power sector and the industrial power sector.
The company has been listed on the Warsaw Stock Exchange since June of 2009. In August 2022, Lubelski Węgiel Bogdanka S.A. returned to listing on the WIG-ESG Index.
Since October of 2015 Bogdanka has been a member of the Enea Group, the second largest player on Poland’s electrical power market in terms of the generation of electricity, which manages the entire value chain on the electricity market ranging from fuel to the generation of electricity, distribution, sales (supply) and customer service.