Segment performance
Revenue in the Distribution segment in 2018–2020
| 2020 | 2019 | 2018 | |
|---|---|---|---|
| Revenue from non-PGNiG Group customers | 4,603 | 4,481 | 4,604 |
| Inter-segment revenue | 81 | 106 | 323 |
| Total revenue, including | 4,684 | 4,587 | 4,927 |
| – distribution services | 4,389 | 4,208 | 4,414 |
Operating expenses in the Distribution segment in 2018–2020
| 2020 | 2019 | 2018 | |
|---|---|---|---|
| Total expenses | (3,621) | (3,607) | (3,469) |
| – depreciation and amortisation expense | (1,094) | (1,015) | (927) |
| – raw materials and consumables used | (72) | (246) | (436) |
| – employee benefits expense | (1,495) | (1,394) | (1,177) |
| – services | (233) | (250) | (259) |
| – transmission services | (667) | (655) | (635) |
| – recognition and reversal of impairment losses on property, plant and equipment and intangible assets |
(5) | 6 | (2) |
| – work performed by the entity and capitalised | 367 | 346 | 288 |
| – other expenses, net | (422) | (399) | (321) |
Generation segment’s EBITDA bridge in 2019–2020
- stable gas distribution volumes of 11.57 bcm, with average air temperatures lower by 0.4 °C y/y;
- revenue from distribution services higher by PLN 181m (4%) y/y, due to a higher tariff as of April 3rd 2020 (increase of approximately 3.5% on the previous tariff).
- net income/expenses of system balancing: PLN +29m in 2020, compared with PLN -30m in 2019.
- employee benefits expense higher by PLN -101m (+7%) y/y due to higher salaries and wages and other components of remuneration, i.e. bonuses and social security contributions.
Capital expenditure incurred in 2020 on PGNiG Group’s property, plant and equipment in the Distribution segment was PLN 2,945m.
Financial results of PSG Group
| PSG Group (PLNm) | 2020 | 2019 | 2018 |
|---|---|---|---|
| Revenue | 4,684 | 4,587 | 4,927 |
| EBITDA | 2,126 | 1,953 | 2,337 |
| EBIT | 1,018 | 924 | 1,398 |
| Net profit/loss | 738 | 671 | 1,110 |
| Total assets | 19,754 | 17,564 | 15,149 |
| Equity | 12,406 | 11,686 | 12,088 |
* Includes adjustment to bring the Company's financial results in line with the PGNiG Group's accounting policies. The adjustment adjusts the value of a building to the cost of the asset.