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Information about fixed assets impairment of PGG

  • No. of the report: 5/2020
  • Report date: 14.02.2020 17:34
  • Report legal ground: Art. 17 sect. 1 of MAR – inside information.

Contents of the report

The Management Board of PGE Polska Grupa Energetyczna S.A. (“PGE”) discloses, that on February 14, 2020 it has received information about recognition of fixed assets impairment by Polska Grupa Górnicza S.A. (associate) as at December 31, 2019.

As estimated by PGE, impact of the impairment on the consolidated net result of the PGE Group amounts to PLN 79 million and is of non-cash nature. It will lower the PGE Group’s net result for 2019, without impact on EBITDA.

Presented values are estimated and may change. Consolidated financial statements of the PGE Capital Group are still being audited by the professional auditor. Final value of the impairment will be presented in the annual consolidated report of the PGE Capital Group for 2019.