PGE POLSKA GRUPA ENERGETYCZNA S.A. |
Market Closed -
Other stock markets
|
5-day change | 1st Jan Change | ||
| 7.464 PLN | +1.28% |
|
+6.54% | -13.99% |
| Apr. 05 | Transcript : PGE Polska Grupa Energetyczna S.A., Q4 2023 Earnings Call, Apr 05, 2024 | |
| Apr. 05 | PGE Power Appoints Renata Czech as Deputy CFO, Effective April 15 | CI |
Valuation
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 14,883 | 12,153 | 15,074 | 15,446 | 19,471 | 16,747 | - | - |
| Enterprise Value (EV) 1 | 26,298 | 19,373 | 19,302 | 12,495 | 28,335 | 30,626 | 23,213 | 33,381 |
| P/E ratio | -3.75 x | 108 x | 3.8 x | 4.41 x | -3.89 x | 4.38 x | 4.21 x | - |
| Yield | - | - | - | - | - | - | - | - |
| Capitalization / Revenue | 0.4 x | 0.27 x | 0.29 x | 0.21 x | 0.2 x | 0.22 x | 0.24 x | 0.28 x |
| EV / Revenue | 0.7 x | 0.42 x | 0.37 x | 0.17 x | 0.3 x | 0.4 x | 0.33 x | 0.55 x |
| EV / EBITDA | 3.68 x | 3.25 x | 2.02 x | 1.44 x | 2.83 x | 3.47 x | 2.41 x | 3.14 x |
| EV / FCF | -139 x | 4.48 x | 6.91 x | 2.51 x | -4.38 x | 34.9 x | 16.7 x | 35.5 x |
| FCF Yield | -0.72% | 22.3% | 14.5% | 39.8% | -22.8% | 2.87% | 6% | 2.82% |
| Price to Book | 0.35 x | 0.29 x | 0.32 x | 0.29 x | 0.42 x | 0.56 x | 0.33 x | - |
| Nbr of stocks (in thousands) | 1,869,761 | 1,869,761 | 1,869,761 | 2,243,713 | 2,243,713 | 2,243,713 | - | - |
| Reference price 2 | 7.960 | 6.500 | 8.062 | 6.884 | 8.678 | 7.464 | 7.464 | 7.464 |
| Announcement Date | 3/31/20 | 3/23/21 | 3/22/22 | 3/21/23 | 4/4/24 | - | - | - |
1PLN in Million2PLN
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 37,627 | 45,766 | 52,730 | 73,435 | 95,964 | 76,155 | 70,938 | 60,489 |
| EBITDA 1 | 7,141 | 5,966 | 9,535 | 8,657 | 10,028 | 8,837 | 9,616 | 10,619 |
| EBIT 1 | -4,175 | 1,408 | 5,123 | 4,299 | -3,431 | 4,547 | 5,218 | 4,860 |
| Operating Margin | -11.1% | 3.08% | 9.72% | 5.85% | -3.58% | 5.97% | 7.36% | 8.03% |
| Earnings before Tax (EBT) 1 | -4,703 | 314 | 4,871 | 4,110 | -4,055 | 4,484 | 4,706 | - |
| Net income 1 | -3,928 | 110 | 3,972 | 3,328 | -5,012 | 3,241 | 3,618 | 2,960 |
| Net margin | -10.44% | 0.24% | 7.53% | 4.53% | -5.22% | 4.26% | 5.1% | 4.89% |
| EPS 2 | -2.120 | 0.0600 | 2.120 | 1.560 | -2.230 | 1.704 | 1.773 | - |
| Free Cash Flow 1 | -189 | 4,326 | 2,794 | 4,977 | -6,464 | 878.2 | 1,393 | 941.6 |
| FCF margin | -0.5% | 9.45% | 5.3% | 6.78% | -6.74% | 1.15% | 1.96% | 1.56% |
| FCF Conversion (EBITDA) | - | 72.51% | 29.3% | 57.49% | - | 9.94% | 14.49% | 8.87% |
| FCF Conversion (Net income) | - | 3,932.73% | 70.34% | 149.55% | - | 27.1% | 38.51% | 31.81% |
| Dividend per Share | - | - | - | - | - | - | - | - |
| Announcement Date | 3/31/20 | 3/23/21 | 3/22/22 | 3/21/23 | 4/4/24 | - | - | - |
1PLN in Million2PLN
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: December | 2019 S1 | 2021 Q3 | 2021 Q4 | 2022 Q1 | 2022 Q2 | 2022 Q3 | 2022 Q4 | 2023 Q1 | 2023 Q2 | 2023 Q3 | 2023 Q4 | 2024 Q1 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 18,236 | 10,942 | 19,880 | 16,897 | 15,728 | 19,355 | 21,455 | 27,208 | 22,352 | 21,515 | 24,889 | 20,546 |
| EBITDA 1 | 4,395 | 1,900 | 2,171 | 2,611 | 3,777 | 1,926 | 339 | 3,427 | 2,445 | 2,458 | 1,698 | 2,470 |
| EBIT 1 | 2,446 | 972 | 993 | 1,550 | 2,704 | 805 | -760 | 2,343 | 1,206 | 1,206 | -8,186 | 1,226 |
| Operating Margin | 13.41% | 8.88% | 4.99% | 9.17% | 17.19% | 4.16% | -3.54% | 8.61% | 5.4% | 5.61% | -32.89% | 5.97% |
| Earnings before Tax (EBT) | - | - | - | - | - | - | - | - | - | - | - | - |
| Net income 1 | 1,702 | 561 | 721 | 1,022 | 2,266 | 654 | -614 | - | - | 953 | -8,041 | 961 |
| Net margin | 9.33% | 5.13% | 3.63% | 6.05% | 14.41% | 3.38% | -2.86% | - | - | 4.43% | -32.31% | 4.68% |
| EPS | - | - | 0.3800 | 0.5500 | - | - | - | - | - | - | - | - |
| Dividend per Share | - | - | - | - | - | - | - | - | - | - | - | - |
| Announcement Date | 9/24/19 | 11/23/21 | 3/22/22 | 5/12/22 | 9/21/22 | 11/23/22 | 3/21/23 | 5/23/23 | 9/22/23 | 11/21/23 | 4/4/24 | - |
1PLN in Million
Estimates
Balance Sheet Analysis
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | 11,415 | 7,220 | 4,228 | - | 8,864 | 13,879 | 6,466 | 16,634 |
| Net Cash position 1 | - | - | - | 2,951 | - | - | - | - |
| Leverage (Debt/EBITDA) | 1.599 x | 1.21 x | 0.4434 x | - | 0.8839 x | 1.57 x | 0.6724 x | 1.566 x |
| Free Cash Flow 1 | -189 | 4,326 | 2,794 | 4,977 | -6,464 | 878 | 1,393 | 942 |
| ROE (net income / shareholders' equity) | 4.79% | 0.26% | 8.83% | 6.75% | - | 6.41% | 5.78% | - |
| ROA (Net income/ Total Assets) | 2.77% | 0.14% | - | - | - | - | - | - |
| Assets 1 | -141,585 | 79,710 | - | - | - | - | - | - |
| Book Value Per Share 2 | 22.60 | 22.70 | 25.40 | 23.90 | 20.90 | 13.30 | 22.50 | - |
| Cash Flow per Share | 3.650 | 5.480 | 3.990 | 5.450 | - | - | - | - |
| Capex 1 | 7,009 | 5,930 | 4,662 | 6,632 | 9,733 | 9,111 | 8,821 | 9,337 |
| Capex / Sales | 18.63% | 12.96% | 8.84% | 9.03% | 10.14% | 11.96% | 12.44% | 15.44% |
| Announcement Date | 3/31/20 | 3/23/21 | 3/22/22 | 3/21/23 | 4/4/24 | - | - | - |
1PLN in Million2PLN
Estimates
EPS & Dividend
Year-on-year evolution of the PER
Change in Enterprise Value/EBITDA
Trading Rating
Investor Rating
ESG Refinitiv
B-
Sell
Buy
Mean consensus
HOLD
Number of Analysts
6
Last Close Price
7.464
PLN
Average target price
9.833
PLN
Spread / Average Target
+31.74%
EPS Revisions
Quarterly revenue - Rate of surprise
| 1st Jan change | Capi. | |
|---|---|---|
| -13.99% | 4.27B | |
| +25.27% | 156B | |
| +13.43% | 86.97B | |
| +3.75% | 84.24B | |
| +7.06% | 80.18B | |
| +1.04% | 75.09B | |
| +82.32% | 67.18B | |
| +14.10% | 48.85B | |
| +13.81% | 44.84B | |
| 0.00% | 44.57B |
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