Enea Q1 core profit drops 20 percent on mining slump
Polish utility Enea reported a 20% drop in Q1 core profit as weak mining and trading margins offset generation gains. The group is shifting toward renewables.
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ENEA SA reported a 20% drop in first-quarter core profit late Thursday as mining and retail trading margins weakened. Net profit for the Poland-based utility fell 11% to 929 million zlotys. The earnings decline underscores headwinds in coal and trading even as the company executes a 108 billion zloty transition toward renewable energy.
