Polenergia: corporate bonds on Catalyst
Polenergia has 1 bond series listed on Catalyst with an issue value of PLN 750m. Next maturity: PEP1029, PLN 750m, 16 October 2029. Net debt / equity: 0.48× (2025 annual report).
Key figures
2025 annual report (polenergia.pl) · as at 11 Nov 2026Not shown yet: net debt / EBITDA. We only show figures verified against the company’s report, and these have not been confirmed yet.
Data on series and maturity dates come from GPW Catalyst. This page describes the company’s data and is not an investment recommendation.
Polenergia is a Polish energy group that generates electricity from onshore wind and solar farms, trades energy and runs distribution, and is building the Bałtyk II and Bałtyk III offshore wind farms together with Equinor. Its bonds on Catalyst are unsecured and were issued by Polenergia S.A., based in Warsaw, which is also listed on the Warsaw Stock Exchange.
Financial results
PLN million, consolidated figures; figures from the company’s reports. A dash (–) means the figure is not in our database.
| Item | 2023 | 2024 | 2025 | 6M 2026 |
|---|---|---|---|---|
| Revenue | 5,615.4 | 4,320.5 | 4,225.8 | 1,752.5 |
| Operating profit (EBIT) | – | – | – | 108.9* |
| Net profit | 263.6 | 301.2 | −124.6 | 43.2 |
| Total assets | 6,711.6 | 7,530.3 | 8,367.8 | 8,242.0 |
| Equity | 3,997.7 | 4,303.5 | 4,351.2 | 4,286.8 |
| Total liabilities | – | – | – | 3,955.2 |
| Cash and cash equivalents | 1,410.8 | 1,489.0 | 874.5 | 926.6* |
| Net debt | – | 615.4 | 2,075.9 | – |
* Figure matches the company document (half-year report for H1 2026) but has not yet been confirmed by a later report.
Sources: annual report for 2023, annual report for 2024, annual report for 2025, half-year report for H1 2026, half-year report for H1 2026.
Debt and repayment capacity
Ratios based on annual reports (consolidated), using only figures verified against the company’s filings. A dash (–) means the figure is not available; a negative interest cover means an operating loss.
| Ratio | 2023 | 2024 | 2025 |
|---|---|---|---|
| Net debt / equity (net debt relative to shareholders’ equity) | – | 0.14× | 0.48× |
| Equity / total assets (share of assets financed by equity) | 59.6% | 57.2% | 52.0% |
| Operating cash flow − capital expenditure (PLN million, cash from operations after investment) | – | 518.5 | 347.8 |
Sources: 2023 annual report, 2024 annual report, 2024 annual report (2).
Bonds on Catalyst
| Series | Maturity | Interest rate | Rate type | Margin | Security | Yield to maturity |
|---|---|---|---|---|---|---|
| PEP1029 | 16 Oct 2029 | 6.64% | Floating (6M WIBOR) | +2.70 pp | Unsecured | 6.64% |
Series codes link to the series pages in Polish. Yield to maturity is calculated by the Polish brokerage DM BDM, before tax and commissions; for floating-rate bonds it assumes the reference rate (WIBOR or EURIBOR) stays at its current level. “No quote” means no recent price.
Questions about Polenergia bonds
How many Polenergia bond series are listed on Catalyst?
Polenergia has one bond series listed on Catalyst, with a nominal value of PLN 750 million. It matures on 16 October 2029.
When does the next Polenergia bond mature?
The next maturity is series PEP1029 on 16 October 2029 (nominal value PLN 750 million). An early redemption at the issuer’s request can change these dates.
How is the interest on Polenergia bonds set?
The series pays a floating rate: 6M WIBOR plus a margin of 2.70 percentage points. The coupon changes with the reference rate in each interest period, while the margin stays the same until maturity.
Are Polenergia bonds secured?
The series is unsecured: bondholders have no priority claim on any specific asset of the company.
Source: our database of Catalyst series, terms and conditions of the bonds and company announcements.
Our full analysis, financial results and news on Polenergia are on the Polish-language issuer page.
This material is for information purposes only and does not constitute investment advice.