By the end of 2004 the Company had stock or shares in 40 companies (currently 38) - 10 of which are the so called subsidiaries - PKE SA held (directly or indirectly) over 50% of votes during General Meetings of those, 17 are associate companies in which PKE SA held 20 - 50% of votes during General Meetings and in case of the remaining 13 companies, PKE SA held up to 20% of votes during General Meetings.
Consolidated Balance Sheet covered PKE SA and its subsidiaries only, which means it included: KW Czatkowice, Elektro, SCE Jaworzno III, PURE Jaworzno III, Proelmed, Polska Energia PKH, Elvita Jaworzno III, ZGE Sobieski Jaworzno III, ZGE Janina as well as Ekopec - SCE Jaworzno III subsidiary.
On December 21, 2004 the total balance of PKE SA Capital Group amounted to PLN 5.8 billion and it had increased by 53.2 million in comparison to the previous year. Consolidated profit and loss account showed net profit of PLN 313 million, which is more than in 2003. Assets profitability index was 5.4%, which denotes a 3.9% increase in comparison to 2003. Net profitability of sale increased from 2.2 to 7.9%. The biggest increase was noted in the equity profitability index, which was 13.4% and exceeded the value from 2003 by 9.7%.
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From the second half of 2003 on - according to the Company development strategy - restructuring project of PKE SA Capital Group has been implemented.. The project aims at strengthening the companies' market position, simplifying management and supervision, adjusting its industry structure to the Concern strategy and, most importantly, preparing for privatisation of PKE SA.
The Capital Group plans to incorporate fewer companies (approximately 30) and limit their diversity. PKE SA Capital Group will incorporate companies active in product areas specified in the Group strategy, that is multi-utility companies involved in expansion of heat energy market, providing raw materials, mainly fuels, assuring diversification of activity in the areas related to power industry or associated domains. Engaging in new, profitable areas with development potential is also possible.