Millions in profit and new projects. Polenergia of Dominika Kulczyk dominates the energy market

Polenergia, the largest private energy group in Poland, owned by Dominika Kulczyk, has published its financial results for the first half of 2024, achieving record results. During this period, the Group’s EBITDA increased by 28% compared to the previous year, reaching PLN 394.6 million, while adjusted net profit increased by 31%, to PLN 222.4 million.

Windmills drive Polenergia’s success

The main factor driving the growth in financial results was the activity in the onshore wind farm segment, which generated PLN 353.3 million of EBITDA, which is an increase of 41.6% year-on-year. This growth was possible thanks to the launch of new wind farms, such as the Piekło Wind Farm with a capacity of 13.2 MW and the Grabowo Wind Farm with a capacity of 44 MW. Additionally, the photovoltaic segment also significantly contributed to the Group’s results, reaching a result of PLN 10 million, which means an increase of 88.7% compared to the first half of 2023.

It is also worth noting the significant growth in the distribution segment, which improved its results by 578.6% year-on-year, reaching PLN 28.5 million EBITDA. Despite these successes, the results in the trade and sales and prosumer energy segments were weaker, which affected the overall level of the Group’s revenues, which amounted to PLN 2,104.8 million, i.e. were lower by PLN 733.2 million compared to the same period of the previous year.

Polenergia, managed by Dominika Kulczyk, continues to implement strategic projects, including the construction of wind farms in the Baltic Sea in cooperation with Equinor, as well as the launch of new photovoltaic investments. The group also plans to issue Green Bonds, which are to support the financing of the development of projects related to renewable energy sources.