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Columbus Energy S.A. Reports Significant Q1 2024 Improvement and Secures Major Clean Air Program Contracts

COMPANIESColumbus Energy S.A. Reports Significant Q1 2024 Improvement and Secures Major Clean Air Program Contracts

Columbus Energy S.A. reported significant improvement in its results in the first quarter of 2024. Additionally, the Columbus Group has already contracted almost PLN 500 million from the Clean Air program.

The quarterly report published today for the first quarter of 2024 shows that Columbus Energy S.A. achieved revenues of PLN 76 million, and the EBITDA result amounted to PLN 12 million, compared to PLN 2.6 million in the same period of 2023. The company also significantly improved its net profit, which reached PLN 7.2 million compared to a loss of PLN 13.2 million in the same period of 2023. The improvement in results during this period was influenced by, among other things, the reduction of the company’s fixed costs and an increase in product margins, despite revenues being lower than those achieved in the first quarter of 2023 (PLN 118 million).

In discussing the quarterly results, the Columbus Management Board announced that they are dynamically developing sales within the Clean Air program, which they started implementing four months ago.

– “We aim to be the leader in the implementation of the Clean Air program. Just as we managed to achieve record numbers of contracts and installations during the photovoltaic boom, we are now ready to meet this challenge. In the first four months of the pilot sales of the HERO service alone, we contracted over 4,000 agreements, with a gross value of almost PLN 500 million. We have verified over a third of these agreements and submitted applications to the Provincial Environmental Protection Funds, and the first implementations will begin in the third quarter of this year. This will be an interesting and – we hope – very good year for Columbus. It could potentially be the best in the company’s history,” adds Dawid Zieliński.

Summarizing the past quarter, the Columbus Management Board highlights the conclusion of significant agreements with international energy companies, including the ENGIE Group, DTEK Group, GoldenPeaks Capital, and the Portuguese giant EDP, which will significantly modify the Group’s financing structure in the future.

– “The effects of these actions are not yet reflected in the financial results for the first quarter of this year, as funds from this year’s transactions with the DTEK Group, Golden Peaks Capital, and the contract with the EDP Group will only appear later, as well as those from the sale or refinancing of operating farms. This report also does not show the implementation of won tenders in the Czech Republic or increased sales of energy storage units, as the demand for these will appear after the launch of the next edition of the My Electricity program, and the results will be included in subsequent quarters,” explains Dawid Zieliński.

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