Current Report No. 13/2015

Date of preparation: 12 August 2015 

Topic: Compliance Declaration of ENERGA SA related to Company’s series A domestic bond issue

Legal grounds: Other regulations

In accordance with point 19 of the Bond Issue Terms and Conditions, the Management Board of ENERGA SA discloses the Compliance Declaration containing the calculation of financial leverage (Net Debt to EBITDA ) ratio for the first half of 2015.

Financial leverage ratio as of 30 June 2015 calculated on the basis of ENERGA Capital Group Consolidated Financial Statements prepared in accordance with IFRS EU for the period ended on 30 June 2015 amounts to 1.90. 

This ratio has been calculated based on the basis of the following items of the financial statements and additional information required for its estimation:

1. Net debt as at 30 June 2015– PLN 4,254,986 thousand, thereof:
2. Loans and borrowings - PLN 2,780,510 thousand;
3. Bonds issued – PLN 3,120,873 thousand;
4. Finance lease liabilities – PLN 3,395 thousand;
5. Cash and cash equivalents – PLN (1,649,792) thousand.
6. EBITDA for 12 months ended on 30 June 2015 – PLN 2,241,270 thousand, thereof:
7. EBIT – PLN 1,353,396 thousand;
8. Amortization and depreciation – PLN 887,874 thousand.

Legal Grounds:

§4 of Appendix No. 3 to the By-Laws of regulated over-the-counter market trading