CONSOLIDATED FINANCIAL STATEMENTS

Consolidated statement of profit or loss

Consolidated statement of profit or loss [PLN m]
2019
2018
 
Revenue from sale of gas
 30,496
 29,628
Other revenue
 11,527
 11,606
Revenue
 42,023
 41,234
 
Cost of gas
 (26,686)
 (24,941)
Other raw materials and consumables used
 (2,977)
 (2,519)
Employee benefits expense
 (3,168)
 (2,871)
Transmission services
 (1,053)
 (1,039)
 
Other services
 (1,828)
 (1,865)
Taxes and charges
 (782)
 (819)
 
Other income and expenses
 (442)
 (564)
Work performed by the entity and capitalised
 1,076
 962
 
Recognition and reversal of impairment losses on property, plant and equipment and intangible assets
 (659)
 (463)
Operating profit before depreciation and amortisation (EBITDAear­nings be­fo­re in­te­rest, ta­xes, de­pre­cia­tion and amor­ti­za­tion)
 5,504
 7,115
Depreciation and amortisation expense
 (3,056)
 (2,720)
Note 2.2.
Operating profit (EBITear­nings be­fo­re in­te­rest and ta­xes)
 2,448
 4,395
Net finance costs
 (54)
 (4)
Profit/(loss) from equity-accounted investees
 (235)
 111
Profit before tax
 2,159
 4,502
 
Income tax
 (788)
 (1,293)
Net profit
 1,371
 3,209
 
Net profit attributable to:
 
 
 
 Owners of the parent
 1,371
 3,212
 
 Non-controlling interests
 -
 (3)
 
Weighted average number of ordinary shares (million)
 5,778
 5,778
 
 Basic and diluted earnings per share (PLN)
 0.24
 0.56

Consolidated statement of comprehensive income

Consolidated statement of comprehensive income [PLN m]
2019
2018
 
Net profit
 1,371
 3,209
 
Exchange differences on translating foreign operations
 (14)
 (19)
 
Hedge accounting
 919
 285

Note 7.1.3

Deferred tax
 (156)
 (15)
 
Share of other comprehensive income of equity-accounted investees
 -
 4
 
Other comprehensive income subject to reclassification to profit or loss
 749
 255
 
Actuarial losses on employee benefits
 (32)
 (33)
 
Deferred tax
 6
 6
 
Share of other comprehensive income of equity-accounted investees
 (7)
 1
 
Other comprehensive income not subject to reclassification to profit or loss
 (33)
 (26)
 
Other comprehensive income, net
 716
 229
 
Total comprehensive income
 2,087
 3,438
 
Total comprehensive income attributable to:
 
 
 
 Owners of the parent
 2,087
 3,441
 
 Non-controlling interests
 -
 (3)
 

Consolidated statement of cash flows

Consolidated statement of cash flows [PLN m]
2019
2018
 
Cash flows from operating activities
 
 
 
Net profit
 1,371
 3,209
 
Depreciation and amortisation expense
 3,056
 2,720
 
Current tax expense
 788
 1,293
 
Net gain/(loss) on investing activities
 433
 (154)
 
Other non-cash adjustments
 (384)
 432

Note 5.5.2.

Income tax paid
 (852)
 (1,060)

Note 4.1.1.

Movements in working capital
 526
 (626)

Note 5.5.1.

Net cash from operating activities
 4,938
 5,814
 
Cash flows from investing activities
 
 
 
Payments for acquisition of tangible exploration and evaluation assets under construction
 (1,215)
 (851)

Note 2.2.

Payments for other property, plant and equipment and intangible assets
 (4,854)
 (3,683)

Note 2.2.

Payments for shares in related entities
 (1)
 (90)
 
Other items, net
 (82)
 (80)
 
Net cash from investing activities
 (6,152)
 (4,704)
 
Cash flows from financing activities
 
 
 
Increase in debt
 3,851
 3,160

Note 5.1.

Decrease in debt
 (2,868)
 (2,510)

Note 5.1.

Dividends paid
 (636)
 (404)

Note 3.5.

Other items, net
 (20)
 (9)
 
Net cash from financing activities
 327
 237
 
Net cash flows
 (887)
 1,347
 
Cash and cash equivalents at beginning of the period
 3,928
 2,581
 
Foreign exchange differences on cash and cash equivalents
 (1)
 -
 
Cash and cash equivalents at end of the period
 3,041
 3,928

Note 5.5.3.

Consolidated statement of financial position

Consolidated statement of financial position [PLN m]
2019
2018
 
ASSETS
 
 
 

Property, plant and equipment

 40,002

 34,236

Note 6.1.1.

Intangible assets

 729

 1,173

Note 6.1.2.

Deferred tax assets

 32

 94

Note 4.1.2.

Equity-accounted investees  

 1,564

 1,806

Note 2.4.

Derivative financial instruments

 237

 226

 

Other assets

 1,375

 1,363

Note 8.4.

Non-current assets
 43,939
 38,898
 

Inventories

 4,042

 3,364

Note 6.2.1.

Receivables

 5,504

 5,742

Note 6.2.2.

Derivative financial instruments

 2,390

 1,092

Note 7.2.

Other assets

 259

 204

Note 8.4.

Cash and cash equivalents

 3,037

 3,925

Note 5.4.

Assets held for sale

 14

 46

Note 8.3.

Current assets
 15,246
 14,373
 
TOTAL ASSETS
 59,185
 53,271
 
 

 

   
EQUITY AND LIABILITIES
 
 
 

Share capital and share premium

 7,518

 7,518

 

Hedging reserve

 739

 73

 

Accumulated other comprehensive income

 (246)

 (203)

 

Retained earnings

 30,097

 29,246

 

Equity attributable to owners of the parent

 38,108

 36,634

 

Equity attributable to non-controlling interests

 (1)

 (2)

 
TOTAL EQUITY
 38,107
 36,632
 
 

 

   

Financing liabilities

 3,507

 1,178

Note 5.1.

Derivative financial instruments

 20

 105

 

Employee benefit obligations

 890

 808

Note 6.3.1.

Provision for well decommissioning costs

 2,355

 1,917

Note 6.1.1.1.

Other provisions

 279

 197

Note 6.3.2.

Grants

 705

 720

Note 6.3.3.

Deferred tax liabilities

 2,383

 2,066

Note 4.1.2.

Other liabilities

 239

 264

Note 6.3.4.

Non-current liabilities
 10,378
 7,255
 
 

 

   

Financing liabilities

 3,245

 2,524

Note 5.1.

Derivative financial instruments

 1,277

 1,055

Note 7.2.

Trade and tax payables*

 3,487

 3,748

Note 6.2.3.

Employee benefit obligations

 398

 347

Note 6.3.1.

Provision for well decommissioning costs

 34

 91

Note 6.1.1.1.

Other provisions

 728

 675

Note 6.3.2.

Other liabilities

 1,531

 944

Note 6.3.4.

Current liabilities
 10,700
 9,384
 
TOTAL LIABILITIES
 21,078
 16,639
 
TOTAL EQUITY AND LIABILITIES
 59,185
 53,271
 

* Including income tax of PLN 132m (2018: PLN 418m)

     

Consolidated statement of changes in equity

Consolidated statement of changes in equity [PLN m]
 
 
 
 
 
 
 
 
Equity attributable to owners of the parent
Equity attributable to non-controlling interests
Total equity
 
Share capital
and share premium, including:
Hedging reserve
Accumulated other comprehensive income:
Retained earnings
Total
 
Share capital
Share premium
Translation reserve
Revaluation of financial assets available for sale
Actuarial gains/(losses) on employee benefits
Share of other comprehensive income of
equity-accounted investees
As at Jan 1 2018
 5,778
 1,740
 7
 (93)
 (3)
 (64)
 (5)
 26,266
 33,626
 1
 33,627
Impact of IFRS 9 and IFRS 15
 -
 -
 -
 -
 3
 -
 -
172
 175
 -
 175
 
 
 
 
 
 
 
 
 
 
 
 
Net profit
 -
 -
 -
 -
 -
 -
 -
 3,212
 3,212
 (3)
 3,209
Other comprehensive income, net
 -
 -
 270
 (19)
 -
 (27)
 5
 -
 229
 -
 229
Total comprehensive income
 -
 -
 270
 (19)
 -
 (27)
 5
 3,212
 3,441
 (3)
 3,438
Change in equity recognised in inventories
 -
 -
 (204)
 -
 -
 -
 -
 -
 (204)
 -
 (204)
Dividend
 -
 -
 -
 -
 -
 -
 -
 (404)
 (404)
 -
 (404)
 
 
 
 
 
 
 
 
 
 
 
 
As at Dec 31 2018
 5,778
 1,740
 73
 (112)
 -
 (91)
 -
 29,246
 36,634
 (2)
 36,632
 
 
 
 
 
 
 
 
 
 
 
 
Impact of IFRS 16
 -
 -
 -
 -
 -
 -
 -
 119
 119
 -
 119
 
 
 
 
 
 
 
 
 
 
 
 
Net profit
 -
 -
 -
 -
 -
 -
 -
 1,371
 1,371
 -
 1,371
Other comprehensive income, net
 -
 -
 763
 (14)
 -
 (26)
 (7)
 -
 716
 -
 716
Total comprehensive income
 -
 -
 763
 (14)
 -
 (26)
 (7)
 1,371
 2,087
 -
 2,087
Change in equity recognised in inventories
 -
 -
 (97)
 -
 -
 -
 -
 -
 (97)
 -
 (97)
Dividend
 -
 -
 -
 -
 -
 -
 -
 (636)
 (636)
 -
 (636)
Changes in the Group
 -
 -
 -
 4
 -
 -
 -
 (3)
 1
 1
 2
 
 
 
 
 
 
 
 
 
 
 
 
As at Dec 31 2019
 5,778
 1,740
 739
 (122)
 -
 (117)
 (7)
 30,097
 38,108
 (1)
 38,107

Powrót do góry en

This menu allows you to go to another subpage in this chapter