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Efficiency improvement programme and growth perspectives in 2016

Efficiency improvement programme

Segment savings [PLN mln]20142015TOTAL
Generation 133 177 310
Distribution 102 167 269
Other 17 8 25
TOTAL 252 352 604

Initiatives due to which savings were made in 2014-2015:

  • Business process optimisation - SSC
  • Outsourced services rationalisation
  • Assets management - fixed assets optimisation
  • Human resources management - Voluntary Redundancy Programme

Initiatives planned for 2016:

  • Better efficiency
  • Greater use of resources within the Group for cost optimisation
  • Non-core liquidation
  • Competence synergy

Growth perspectives in 2016

Segment2015 vs. 2016 perspectiveKey factors
Mining Drop (-) Lower price of coal
(+) Construction of new roadways
(+) Assets modernisation
(+) Constant enhancement of efficiency
Conventional power engineering Neutral (-) Lower price of energy
(-) Lower limit of free CO2
(+) Lower price of coal
(+) Greater generation of electricity
(+) Internal processes optimization
Renewable energy sources Growth (-) Drop in price and volume of RES Proprietary Interests
(+) Greater generation of electricity
(+) Optimisation of costs of the Area of Water
Distribution Drop (-) Drop of WACC to 5.675% may result in EBITDA lower by ca. PLN 58 mln
(-) Lower volumes of electricity for covering book-tax difference in the Tariff
(+) Management optimisation in the segment
(+) Works over the improvement of the quality of SAIDI and SAIFI services
Trading Drop (-) Threat from the side of new energy sellers
(+) Sales channels development
(+) Development of the range of products
(-) Lower gas prices as a result of collapse in oil prices
(-) Lower price of electricity