Lubelski Węgiel Bogdanka S.A. signed today with the trade unions active at the Company an agreement to amend the Company Collective Bargaining Agreement to the extent it is related to payments of coal allowances to the Company’s retirees and pensioners.

The agreement is connected with the Act on the benefit to compensate for the loss of the right to free coal, passed by the Sejm (the lower house of the Parliament) on 12 October 2017. The agreement gives the right to receive a compensation of PLN 10,000 net also to Bogdanka's retirees and pensioners.

The Supervisory Board of Lubelski Węgiel Bogdanka S.A. has granted an authorisation to Enea Centrum Sp. z o.o. to conduct a tender procedure for the selection of an auditing company for Lubelski Węgiel Bogdanka S.A. and its subsidiaries.

In H1 2017 the Lubelski Węgiel Bogdanka Group generated revenue in the amount of PLN 902.1 million (up by 6.3% y/y) and net profit of PLN 112.1 million (up by 49.6% y/y). In the period in question, EBIT amounted to PLN 147.5 million (up by 52.7% y/y), while EBITDA totalled PLN 318.6 million (up by 14.9% y/y).

We are happy to present to you the latest Integrated Report of the LW Bogdanka Group for 2016.

LW BOGDANKA S.A., the most modern and effective hard coal mine in Poland, a member of the Enea Group, one of the leaders in Poland’s power market, has filed with the Minister of the Environment an application for a mining licence for extraction of hard coal from the “Ostrów” deposit in the “Ludwin” mining area.

In Q1 2017 the Lubelski Węgiel Bogdanka Group generated revenue in the amount of PLN 465.2 million (growth by 10.6% y/y) and net profit of PLN 68.2 million (growth by 25.2% y/y). In the period in question, EBIT amounted to PLN 89.7 million (up by 13.8% y/y), while EBITDA totalled PLN 179.8 million (up by 3.7% y/y).

The LW Bogdanka Group’s Integrated Report for 2015 (published in 2016) was recognised in the prestigious contest for the Deloitte Central European Sustainability Report Award, commonly referred to as the Green Frog Award (GFA).

On 19 April 2017 in Warsaw, the representatives of the Lublin mine, including the President of the Management Board Krzysztof Szlaga, had the pleasure to collect the main award.

In 2016 the Lubelski Węgiel Bogdanka Group generated revenue of PLN 1.8 billion, and net profit of PLN 182 million. In the period in question, EBIT amounted to over PLN 237 million, while EBITDA totalled PLN 606.5 million. Coal prices, which still remained low on a year-on-year basis despite the relative stabilisation in Q4 2016, had a significant influence on the financial results.

LW Bogdanka S.A., the most advanced  and most efficient hard coal mine in Poland and a member of the Enea Group, one of the leaders in Poland’s power market, presented a development strategy for the Mining Area of the Enea Group. The strategy covers a period until the year 2025, within the 2030 framework. The strategy is in line with the Strategy of the Enea Group and reflects both Responsible Development Plan and Polish Hard Coal Mining Programme.

The strategy of LW Bogdanka in the Mining Area of the Enea Group includes two development scenarios: baseline, which assumes average production at a level of about 8.5 million tonnes a year over 2017-2025, and flexible development, with average annual production at a level of about 9.2 million tonnes over the same period. Taking into account the current and expected market situation, the Company wants to implement the flexible development scenario. CAPEX forecast for 2016-2025 (nominally) amounts to PLN 3.7 billion for the baseline scenario and about PLN 4 billion for the flexible development scenario.

The Lubelski Węgiel Bogdanka Group has signed an annex to the Long-Term Agreement for Sale of Thermal Coal with ENERGA Elektrownie Ostrołęka S.A. The Annex extends the term of the Agreement until the end of 2019 (initially, the Agreement was to end on 31 December 2016) and sets forth the terms and conditions of supplies in 2017.