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Information about the results of the test for impairment of assets

  • No. of the report: 23/2015
  • Report date: 25.08.2015
  • Report legal ground: Art. 56 section 1 p. 1 of Act on Public Offering – confidential information

Contents of the report

In connection with the current report no 15/2015 dated August 4, 2015, the Management Board of PGE Polska Grupa Energetyczna S.A. (the “Company”, “PGE”) discloses that the Company completed main works on tests for impairment of assets required by the IAS 36. The results of the tests conducted by PGE GiEK S.A. indicate a loss of value in property, plant and equipment in Conventional Generation business line in the amount of approximately PLN 8.8 billion.

Accordingly, appropriate impairment loss will be recognized in the consolidated financial statements of PGE for the first half of 2015.

Disclaimer: Value presented above is estimated and may change. Final result of the tests and value of the impairment of assets will be presented in the consolidated financial statements of PGE for the first half of 2015 that will be published on August 31, 2015.

Legal ground: Art. 56 section 1 point 1 of the Act on public offering, conditions governing the introduction of financial instruments to organised trading, and public companies (Dziennik Ustaw of 2009, no 185 item 1439).
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