Polish PGNiG earnings grow in 2013

March 6, 2014

In 2013, the PGNiG Group earned over PLN 1.9bn in net profit, which was primarily attributable to record-high crude oil production after the Lubiatów facility and the Skarv field on the Norwegian Continental Shelf were brought on-stream, and to improved profitability of gas sales, PGNiG’s press office said on March 5.

The Group posted a revenue of more than PLN 32bn, which represents a 12% increase on PLN 28.7bn in 2012. Revenue grew consistently across all segments. In 2013, revenue from sales of crude oil increased by PLN 1.5bn year on year, while revenue from sales of high-methane gas was up PLN 1.2bn on 2012.

At the operating level, the Group's EBITDA grew 22%, to PLN 5.6bn (2012: PLN 4.6bn).

Source: PGNiG Press Office, 2014