We will also deal with similar topics at our Portfolio Investment Day 2024 conference on May 16, in which participation is free after registration.
The weather in the discussed period (with the exception of January) is significantly milder and more varied compared to the similar period in 2023 and the average of the past years, however, overall, it represented average company group level heating potential.
Comparing the heat sales data for the first quarter of 2024 with the average values for the same period of the historical years, it can be concluded that in addition to the unusually mild weather conditions, PannErgy,
in the discussed period, it realized above-average heat sales, exceeding the record heat sales of the base period and surpassing the periodic plan.
PannErgy exceeded the quarterly plan value by about 1.9 percent and the base period by about 1.3 percent, primarily thanks to continuous improvements to increase efficiency and operational safety (the supporting effect of the leap year must also be taken into account when comparing the base).
Source: PannErgy
Taking into account the information presented in this production report, PannErgy expects the expected fulfillment of the consolidated EBITDA plan range of HUF 3,900 – 4,100 million for the 2024 business year published earlier (January 15, 2024). maintains.
The significant and unpredictable variability of the weather conditions experienced in recent years continued this April, which may have a noticeable effect on the heat production performance of the second quarter, the company announced.
As for individual projects:
- In the first quarter of 2024, the Miskolc Geothermal System sold a total of 272,666 GJ of heat energy, in line with the average value for the relevant period of the past years and 1.2 percent higher than the heat sales achieved in the same period of 2023, which, corrected for the effect of the leap year, essentially means the same performance as the base.
- In the first quarter of 2024, the Győr Geothermal System sold 364,186 GJ of thermal energy, which exceeds the average value for the relevant period of previous years and also represents a historical periodic record value. Compared to the base period, we experience a 1.4 percent increase, which means a slight increase even when corrected for the leap year effect.
The price of PannErgy rose by 5.2 percent this year.
Cover image source: Portfolio
