Information on the impact of the revaluation write-off of non-current assets in Polska Grupa Górnicza S.A. on the results of the Energa Group
Current Report No. 10/2020
Date: 14 February 2020
Subject: Information on the impact of the revaluation write-off of non-current assets in Polska Grupa Górnicza S.A. on the results of the Energa Group
Legal basis: Legal basis: Article 17 (1) of MAR - inside information
The Management Board of Energa S.A. (the "Company") hereby informs that on 14 February 2020 it received information about the recognition by Polska Grupa Górnicza S.A. ("PGG") of a revaluation write-off on its non-current assets. As a result, PGG's net result for 2019 was negative.
PGG is presented in the consolidated financial statements of the Energa Group using the equity method, therefore the Group's share in the above net loss will amount to PLN -65 million. The above event is of a non-cash nature. It will decrease the net result of the Energa Group for 2019 without affecting the EBITDA result.
The financial data presented are estimates and will be subject to auditing by the auditor, therefore they may change in the final consolidated financial statements of the Energa Group for 2019.