Current reports
Current report no. 32/2022
Information on the intention to recognize one-off events in the financial statements for the first half of 2022 and their estimated impact on financial results
Legal basis:
Art. 17 sec. 1 MAR – inside information
Contents of the report:
ZE PAK SA („Company”), in connection with the work on the financial statements for the first half of 2022, publishes information on the identification of the need to establish a provision related to the contract for the sale of electricity in the second half of 2022 to one of the external recipients ("Provision"). The created Provision results from the necessity to incur costs necessary to perform the electricity sale agreement, and these costs exceed the expected benefits from its implementation. The agreement concerns the sale of electricity generated in the biomass block, while the costs that made it necessary to establish the provision are directly related to the increase in biomass purchase prices.
The provision described above will reduce the EBITDA result and the Company's net result for the first half of 2022 by approximately PLN 31 million.
With regard to the consolidated results for the first half of 2022, the established provision will reduce the EBITDA result and the Group's net result by approximately PLN 31 million.
The expected estimated consolidated EBITDA result for the first half of 2022 will amount to PLN 199 million. The expected estimated consolidated net profit of ZE PAK SA Group for the first half of 2022 will amount to PLN 153 million.
The expected estimated standalone EBITDA result of ZE PAK SA for the first half of 2022 will amount to PLN 125 million. The expected estimated net profit of ZE PAK SA for the first half of 2022 will amount to PLN 108 million.
The company reserves that the consolidated and standalone statements are being reviewed by a certified auditor, therefore the above amounts may change.
Signatures of persons representing the Company:
Piotr Woźny – President of the Management Board
Maciej Nietopiel – Vice President of the Management Board
Katarzyna Sobierajska – Vice President of the Management Board