PGE Group moves forward with profitability growth plan

by   CIJ News iDesk II
2020-11-30   08:56

The cost discipline and expenditure optimization plan recently introduced by the PGE Management Board is beginning to bring the first visible financial effects, according to PGE Polska Grupa Energetyczna. Based on the new strategy, the value of the group will be built around the distribution segment and dynamic development of renewable energy sources over the coming years. The general agreement signed in October, within the framework of the Holding Council established in June, has strengthened the effectiveness of activities and increased benefits for the group. The holding management has increased cost discipline within PGE Group. The high level of accumulated cash, amounting to PLN 3.3bn at the end of Q3 2020, will allow PGE Group to pay for CO2 emission allowances, implement its demanding investment program and move ahead with planned acquisitions, according to PGE Polska Grupa Energetyczna.