WARSAW, Feb 26 (Reuters) - Charges will cut almost 52 million zlotys ($17.2 million) off 2013 net profit at Poland’s fourth-biggest power company Energa, the group said late on Tuesday.
The Warsaw-listed, state-controlled company has not yet received the free carbon permits expected from the European Commission and has decided to deduct 29 million zlotys from last year’s earnings as a result.
Energa also took an impairment charge on the loss of value of its outdated power plant, which would cut its net profit by another 23 million zlotys.
Previously, analysts had estimated Energa’s 2013 net profit at 762 million zlotys. The company is to publish its 2013 financial report on March 10.
$1 = 3.0213 Polish zlotys Reporting by Marcin Goclowski; Editing by Mark Potter