PGE swings to quarterly net loss on asset write-downs
Published by Global Banking and Finance Review
Posted on September 10, 2025
Global Banking and Finance Review is an online platform offering news, analysis, and opinion on the latest trends, developments, and innovations in the banking and finance industry worldwide. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.
Published by Global Banking and Finance Review
Posted on September 10, 2025
GDANSK (Reuters) -Poland's biggest energy utility PGE reported a second-quarter net loss of 9.61 billion zlotys ($2.65 billion) on Tuesday, in line with the company's estimates as impairments on its tangible assets took a toll.WHY IT'S IMPORTANT
PGE is the biggest state-controlled Polish utility, with market capitalisation of 24.83 billion zlotys.
The substantial loss, driven by write-downs on its conventional assets, highlights the financial cost of Poland's energy transition and underscores the urgency behind the company's strategic pivot away from fossil fuels and toward its new investment plan.
CONTEXT
PGE, like other Polish utilities, is navigating structural shifts in the country's energy landscape as it transitions away from coal. In June, it unveiled a new strategy to invest 235 billion zlotys by 2035 in renewable, gas-fired power plants, and energy storage. The company had previously announced it expected a net hit of around 11.6 billion zlotys in the first-half from impairments on its tangible assets, mainly related to its conventional energy segment.BY THE NUMBERS The company's reccuring earnings before interest, taxes, depreciation, and amortization (EBITDA) for the first half of the year was 7.60 billion zlotys. Sales revenue for the quarter stood at 13.80 billion zlotys.
($1 = 3.6291 zlotys)
(Reporting by Julia Kotowska and Marta Maciag; editing by Harikrishnan Nair)