Profil:
Energa SAEnerga power sees need to increase impairment charges of around PLN 0.2 bln, to approx. PLN 0.63 bln
Poland's largest energy concern Orlen's subsidiary power utility Energa has identified the need to increase the write-downs for a total amount of approximately PLN 200 million (EUR 47.2 mln), the company said in a market filing. Currently, the estimated total amount of impairment losses on the group's non-current assets is approximately PLN 0.63 billion (EUR 148.6 mln).
As stated, the increase in write-downs is attributable to RES assets in the area of electricity generation for which transaction decisions have been made in 2023.
The need for this increase was identified during the work on the 2024 consolidated financial statements, as part of the auditor's examination of these statements.
The company stated that the events are non-cash in nature. They will reduce Energa Group's pre-tax result for 2024 by approximately PLN 0.63 billion (EUR 148.6 mln), but will not affect EBITDA (operating profit plus depreciation and amortisation and impairment of non-financial fixed assets).
In March, the company reported that it had identified the need for impairment charges totalling approximately PLN 0.43 billion (EUR 102.7 mln).
The final results of the tests and the value of the write-downs will be presented in Energa Group's consolidated financial statements for 2024.
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