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The Warsaw Voice » Other » March 12, 2018
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Confusion over Polish state-owned coal group PGG
March 12, 2018   
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Polish state-owned coal group PGG produced 28.1 million tons of coal in 2017 rather than 30 million tons reported by the top management some time ago, the dailies Parkiet and Rzeczpospolista wrote following an analysis of the report of power facility PGE, one of PGG's shareholders. PGG included in its figures the output of its unit KHW from January to April 2017, although it took over KHW only at the beginning of April 2017, the dailies explain. PGG has repeatedly baffled the market with confusing data, they add. PGG has made various business plans and assumptions, which later had to be adapted to the existing circumstances, an unspecified source says. PGG is already lowering forecasts for 2018, the newspapers found out, as a group's presentation from 2017 put the 2018 output at 32.8 million tons, whereas now the management is suggesting 30 million tons.
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