The Management Board of Polenergia S.A. (‘Company’) hereby notifies that on 2nd July 2018 the Company decided to make a write-down of the estimated value of PLN 17,4 million, mainly in regard to the value of fixed assets. The write-down is non-cash. It will be included in the Company’s consolidated financial statement for the 1st quarter of 2018 in other operating expenses. It will charge Polenergia Group’s operating results without affecting EBITDA, according to the accepted definition. The presented item is estimated and is subject to change.
This decision is a consequence of changes in the regulatory environment resulting from the adopted amendment to the Act on Renewable Energy Sources as well as business and economic situation of the biomass segment.
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