Current Report No. 44/2020
Belongs to:
- Reports
Date: 22 May 2020
Legal basis: Article 17 (1) of MAR – inside information
The Management Board of Energa SA informs that while drafting its consolidated financial statements for 2019, acting in accordance with IFRIC 23 Uncertainty over Income Tax Treatments, it identified the need to create a provision for deferred income tax in the amount of PLN 102 million. This provision relates to possible future tax liabilities of Energa Finance AB (publ) ("Energa Finance"), a subsidiary of the Issuer established to issue Eurobonds, which may arise in connection with exchange rate differences occurring at the time of repayment of loans granted by Energa Finance to the Issuer.
The estimated impact of the above event on the consolidated net result of Energa Group for 2019 is PLN -102 million. This is the event of a non-cash nature decreasing the net result without affecting the EBITDA.
The financial data presented are estimates and will be subject to auditing by the auditor, therefore they may change. The final amount of the provision will be presented in the consolidated financial statements of Energa Group for 2019.