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We are investing in research and development to raise the efficiency of our operations.

Jarosław Broda
Vice-President of the Management Board for Asset Management and Development

We are optimizing the Group’s operations to increase shareholder value.

Kamil Kamiński
Vice-President of the Management Board for Customer and Corporate Affairs

We are generating good financial results even in a challenging market environment.

Marek Wadowski
Vice-President of the Management Board for Finance
President's letter
The year’s highlights

The Strategy adopted in September 2016 is the TAURON Group’s response to the challenges created by the evolving business environment and growing customer expectations.

Filip Grzegorczyk
President of the Management Board

Business model
29
%
of the steam coal resources
3
mines
6,4
m
t
production of saleable coal
8
power plants
4
wind power plants
34
hydropower plants
5,5
mln
customers
49,7
TWh
distributed energy
267
tys
km
power lines
5,3
m
customers
32
TWh
retail sold energy
2
second largest seller of electricity in Poland
The strategy defines three priority objectives
The strategy defines three priority objectives whose attainment will transform the TAURON Group into an innovative, rapidly growing power concern adapted to market and customer needs, ultimately providing shareholders with their expected return on invested capital. To this effect, we focus on financial stability and build a platform for sustainable development.
more
Financial stability Development of a strong Group Modern and innovative organization
Marek Wadowski - The Efficiency Improvement Program comprising 2016-2018 calls for generating PLN 1.3 billion in savings.
Marek Wadowski
Vice-President of the Management Board
TAURON is planning to extend its offering rapidly to retain its legacy customer base and grow profitability.
Kamil Kamiński
Vice-President of the Management Board
Development of R&D and innovation activity with an allocation of at least 0.4% of consolidated revenues per annum
Jarosław Broda
Vice-President of the Management Board
Financial results
EBITDA
3.3
bn
PLN
Efficiency Improvement Program
1.3
bn
PLN
Revenues on sales
17.6
bn
PLN
CAPEX
3.8
bn
PLN
Net profit
370
m
PLN
The EBITDA result generated in 2016 is slightly lower than the year before, which is primarily attributable to challenging market conditions in the hard coal mining and conventional power sectors. Implementing the new strategy will contribute to improving the TAURON Group’s EBITDA by over PLN 4 billion in 2020 and PLN 5 billion in 2025.
Filip Grzegorczyk
President of the Management Board
EBITDA

[PLN million]

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The estimated recurring effect of executing the Efficiency Improvement Program measured by the impact exerted on the TAURON Group’s EBITDA is approx. PLN 0.4 billion from 2018 while the impact exerted by executing the Strategic Initiatives on the Group’s EBITDA is approx. PLN 0.3 billion post 2020.
Kamil Kamiński
Vice-President of the Management Board
Efficiency Improvement Program
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Operating in a challenging and increasingly unstable market, the TAURON Group generated sales revenues of PLN 17.6 billion, which was similar to the result generated in 2015, confirming the Group’s strong position.
Marek Wadowski
Vice-President of the Management Board
Revenues on sales

[PLN million]

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Considering the TAURON Group’s long-term development and energy security, we regularly invest in new generation capacities and improving the quality of the distribution infrastructure. The Group recorded the highest CAPEX in the Generation (PLN 1.7 billion), Distribution (PLN 1.8 billion) and Mining (PLN 283 million) segments.
Jarosław Broda
Vice-President of the Management Board
CAPEX

[PLN million]

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The TAURON Group’s net profit was nearly PLN 400 million while the year before Tauron recorded a net loss of PLN 1.8 billion due to impairment losses. The result generated in 2016 was debited with the impairment losses on the carrying value of conventional and renewable sources totaling PLN 735 million.
Marek Wadowski
Vice-President of the Management Board
Net profit

[PLN million]

LOADING
Stakeholder map
Customers
Customers
Customers form the largest group of the TAURON Group’s stakeholders, with about 5.5 million distribution customers and 5.3 million electricity sales customers – private individuals and entities, with more than 400 thousand of them being business customers. This group also consists of a special subgroup of 60 strategic customers, including among others: ArcelorMittal, KGHM Polska Miedź, TELE-FONIKA Kable, Volkswagen Motor Polska, Górażdże Group, Saint-Gobain Group, FENICE Poland and SGL Carbon Polska.
Shareholders
Shareholders
Shareholders are the next most numerous stakeholder group following customers and employees. The main shareholders of TAURON Polska Energia listed on the Warsaw Stock Exchange are as follows:State Treasury (30.06%), KGHM Polska Miedź (10.39%) and ING Otwarty Fundusz Emerytalny (5.06%). The rest of the shares (54.49%) are held by institutional and retail investors.
Employees and trade unions
Employees and trade unions
We are operating in a knowledge-based economy and employees are the most valuable asset of our company and, at the same time, one of the largest stakeholder groups. Our companies employ almost 26 thousand people. We contact them using a number of tools, with Tauronet, one of the largest Intranet portals in the country, being the most important one.
Banks
Banks
TAURON Group’s stakeholders also include its key financial partners, that is PKO BP, BGK, ING Bank, CaixaBank, Bank Handlowy, Bank Zachodni WBK, MUFG and EIB.
Goverment administration
Goverment administration
The energy sector is of strategic importance to the Polish economy; its current and future standing are tightly linked to decisions made at the central level. As a result, ministries, mainly the Ministry of Development, Environment and Energy, are important stakeholders of the TAURON Group.
Regulator
Regulator
Operation of the Energy Regulatory Office has a direct influence on the energy sector, so dialogue with the regulator is very important to us.
Local community
Local community
The TAURON Group's local community consists of thousands of people who live in the vicinity of its assets located in five voivodships (regions). This is the second largest stakeholder group, and a very important one, too.
Other parts
Other parts
Other stakeholder groups include, among others, suppliers and sub-contractors, non-governmental organizations, local authorities, representatives of public offices and entities, schools and universities, science institutes, the media, associations (industry and consumer) and competitors. In addition to industry conferences and seminars and direct meetings, the key channels used to communicate with them are corporate websites and annual reports.
Customers
Shareholders
Employees and trade unions
Banks
Goverment administration
Regulator
Local community
Other parts
Customers
Customers form the largest group of the TAURON Group’s stakeholders, with about 5.5 million distribution customers and 5.3 million electricity sales customers – private individuals and entities, with more than 400 thousand of them being business customers. This group also consists of a special subgroup of 60 strategic customers, including among others: ArcelorMittal, KGHM Polska Miedź, TELE-FONIKA Kable, Volkswagen Motor Polska, Górażdże Group, Saint-Gobain Group, FENICE Poland and SGL Carbon Polska.

more

Shareholders
Shareholders are the next most numerous stakeholder group following customers and employees. The main shareholders of TAURON Polska Energia listed on the Warsaw Stock Exchange are as follows:State Treasury (30.06%), KGHM Polska Miedź (10.39%) and ING Otwarty Fundusz Emerytalny (5.06%). The rest of the shares (54.49%) are held by institutional and retail investors.

more

Employees and trade unions
We are operating in a knowledge-based economy and employees are the most valuable asset of our company and, at the same time, one of the largest stakeholder groups. Our companies employ almost 26 thousand people. We contact them using a number of tools, with Tauronet, one of the largest Intranet portals in the country, being the most important one.

more

Banks
TAURON Group’s stakeholders also include its key financial partners, that is PKO BP, BGK, ING Bank, CaixaBank, Bank Handlowy, Bank Zachodni WBK, MUFG and EIB.

more

Goverment administration
The energy sector is of strategic importance to the Polish economy; its current and future standing are tightly linked to decisions made at the central level. As a result, ministries, mainly the Ministry of Development, Environment and Energy, are important stakeholders of the TAURON Group.

more

Regulator
Operation of the Energy Regulatory Office has a direct influence on the energy sector, so dialogue with the regulator is very important to us.

more

Local community
The TAURON Group's local community consists of thousands of people who live in the vicinity of its assets located in five voivodships (regions). This is the second largest stakeholder group, and a very important one, too.

more

Other parts
Other stakeholder groups include, among others, suppliers and sub-contractors, non-governmental organizations, local authorities, representatives of public offices and entities, schools and universities, science institutes, the media, associations (industry and consumer) and competitors. In addition to industry conferences and seminars and direct meetings, the key channels used to communicate with them are corporate websites and annual reports.

more

GRI indicators