Current Report No. 26/2016
Belongs to:
- Reports
Date of preparation: 28 June 2016
Subject: Information about impairment losses of assets
Legal basis: Article 56 Section 1 Item 1 of the Act on Offerings – confidential information
The Management Board of ENERGA S.A. (Company) hereby announces that in connection with regulatory changes (Act on Investments in Wind Power Plants), it has been identified that there are premises for decreasing the recoverable value of the ENERGA Group’s non-current assets.
As a result of conducted impairment tests according to the legal status as at 28 June 2016, a decision has been made to recognize impairment losses in the Generation Segment for the existing and future wind farms totaling PLN 247 million. The above operation is of non-cash nature. It will be charged to the Energa Group’s operating result, in accordance with the definition adopted in April this year, without impacting the EBITDA result.
After making these impairment losses, the book value of the wind farms in the ENERGA Group’s consolidated balance sheet is PLN 647.4 million, including PLN 11.9 million for future wind power plants.
The presented items are estimates and subject to change. They will be taken into consideration in the consolidated report for H1 2016 to be published on 11 August 2016.