Polish energy company PGNIG's Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA) increased by 16 percent in the first quarter of 2017, year on year, the company announced on Thursday.
PGNIG said that its EBITDA was around $743 million.
During the period, the company's revenue came in at around $3.12 billion, a 6 percent increase year on year.
The company also reported a strong increase of 11 percent in volumes of natural gas sales.
The company's CEO Piotr Wozniak interpreted the results as excellent.
"We are also satisfied with the results reported by our segments, in particular the exploration and production and the generation segments, both of which delivered very strong growth," he said.
PGNIG's exploration and production segment's operating profit for the first quarter of 2017 increased by 83 percent year on year.
By Murat Temizer