Current Report No. 5/2018/K

Belongs to:

  • Reports

Date of Preparation: 1 February 2018

Subject: ENERGA Group’s estimated financial results for Q4 2017 and for 2017 – correction

Legal Basis: Article 17 Section 1 of the Market Abuse Regulation – confidential information 

The Management Board of ENERGA SA hereby issues a correction of Current Report No. 5/2018 of 22 January 2018 regarding publication of preliminary estimates of the Company’s selected financial and operating data for Q4 2017 and for 2017.

The reason for the correction is the typing error regarding explanation for the partial reversal of previously recognized impairment losses for disputable receivables in the Distribution Segment and in the Sales Segment.

The wording of the updated fragment of the report before the correction:

Earlier application of the provisions of IFRS 9, introducing amendments to the impairment loss recognition methodology for disputable receivables, necessitated partial reversal of earlier losses, which improved the EBITDA in the Distribution Segment by PLN 16.1 m and in the Distribution Segment by PLN 43.8 m.

The wording of the updated fragment of the report after the correction:

As a result of analysis of the provisions of IFRS 9, introducing amendments to the impairment loss recognition methodology for disputable receivables, earlier losses were partially reversed, which improved the EBITDA in the Distribution Segment by PLN 16.1 m and in the Sales Segment by PLN 43.8 m.

The remaining part of the report remains unchanged.

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