Assets - structure of assets and liabilities of Enea CG
| Assets [PLN ‘000] | As at: | Change | Change % | |
|---|---|---|---|---|
| 31 December 2015 | 31 December 2016 | |||
| Fixed assets | 18 203 442 | 19 486 599 | 1 283 157 | 7.0% |
| Tangible fixed assets | 17 074 978 | 18 382 498 | 1 307 520 | 7.7% |
| Perpetual usufruct | 74 160 | 74 899 | 739 | 1.0% |
| Intangible assets | 272 116 | 370 638 | 98 522 | 36.2% |
| Investment properties | 20 624 | 28 020 | 7 396 | 35.9% |
| Investments in subsidiaries and jointly controlled entities | 748 | 2 518 | 1 770 | 236.6% |
| Deferred tax assets | 616 795 | 403 257 | -213 538 | -34.6% |
| Financial assets available for sale | 23 982 | 42 482 | 18 500 | 77.1% |
| Financial assets valued at fair value through profit or loss | - | 112 | 112 | 100.0% |
| Derivatives | 844 | 40 267 | 39 423 | 4 671.0% |
| Trade and other receivables | 28 323 | 30 690 | 2 367 | 8.4% |
| Funds gathered within Mine Liquidation Fund | 90 872 | 111 218 | 20 346 | 22.4% |
| Current assets | 4 785 554 | 5 049 920 | 264 366 | 5.5% |
| Allowances for emissions of CO2 | 307 521 | 417 073 | 109 552 | 35.6% |
| Inventories | 649 509 | 448 941 | -200 568 | -30.9% |
| Trade and other receivables | 1 732 744 | 1 824 488 | 91 744 | 5.3% |
| Current income tax assets | 31 956 | 9 541 | -22 415 | -70.1% |
| Financial assets held to maturity | 479 | 478 | -1 | -0.2% |
| Financial assets valued at fair value through profit or loss | 222 011 | 4 852 | -217 159 | -97.8% |
| Cash and cash equivalents | 1 822 094 | 2 340 217 | 518 123 | 28.4% |
| Fixed assets for sale | 19 240 | 4 330 | -14 910 | -77.5% |
| Total assets | 22 988 996 | 24 536 519 | 1 547 523 | 6.7% |
Fixed assets change drivers (growth by PLN 1,283 mln):
- increase of tangible assets stems from higher expenditures in relation to the implementation of Enera CG’s investment strategy, mainly acceptance of subsequent stages of unit No. 11 construction
- higher intangible assets by PLN 99 mln stem mainly from the development of software for the Group being the support in the companies’ operations and granting licences
- lower deferred tax assets (by PLN 214 mln) relate mainly to the last year's impairment of fixed assets
- growth in derivatives by PLN 39 mln stems from the higher evaluation of IRS transactions, related to the greater volume of concluded IRS transactions in 2016
- growth in the funds gathered within the Mine Liquidation Fund stems from increasing the obligatory write-down
Current assets change drivers (growth by PLN 264 mln):
- growth in CO2 emission allowances by PLN 110 mln stems from greater purchase of CO2 emission allowances
- drop in the stock balance by PLN 201 mln stems from a drop in stock levels of coal and certificates of origin for energy
- drop in financial assets valued at fair value through profit and loss account by PLN 217 mln stems from the withdrawal of funds invested in highly liquid securities and their shift to cash and cash equivalents with allocation the implementation of scheduled investment projects in Enea Capital Group
- higher cash and cash equivalents by PLN 518 mln stem mainly from the transfer of funds from financial assets evaluated at fair value through financial result and decision on no distribution of dividend and their allocation to the implementation of the Capital Group’s investment strategy
Assets - structure of assets and liabilities of Enea CG
| Liabilities [PLN ‘000] | As at: | Change | Change % | |
|---|---|---|---|---|
| 31 December 2015 | 31 December 2016 | |||
| Total equity | 12 122 603 | 13 011 729 | 889 126 | 7.3% |
| Share capital | 588 018 | 588 018 | - | - |
| Share premium | 3 632 464 | 3 632 464 | - | - |
| Financial instruments revaluation reserve | 814 | 744 | -70 | -8.6% |
| Other reserves | -45 883 | -25 652 | 20 231 | 44.1% |
| Reserve capital from valuation of hedging instruments | 3 980 | 33 826 | 29 846 | 749.9% |
| Retained earnings | 7 158 352 | 7 946 612 | 788 260 | 11.0% |
| Non-controlling interests | 784 858 | 835 717 | 50 859 | 6.5% |
| Total liabilities | 10 866 393 | 11 524 790 | 658 397 | 6.1% |
| Non-current liabilities | 8 457 838 | 8 606 757 | 148 919 | 1.8% |
| Current liabilities | 2 408 555 | 2 918 033 | 509 478 | 21.2% |
| Total equity and liabilities | 22 988 996 | 24 536 519 | 1 547 523 | 6.7% |
Non-current liabilities change drivers (growth by PLN 149 mln):
- PLN 342 mln growth in loans, credits and debt securities resulting e.g. from: drawing a loan from EIB in the amount of PLN 100 mln (nominal value); bond issue in the amount of PLN 750 mln (nominal value) allocated to the construction of Unit No. 11; redemption in the amount of PLN 100 mln and reclassification to the short-term portion of the bonds in the nominal value of PLN 300 mln LW Bogdanka
- PLN 196 mln drop in deferred income tax provision
Current liabilities change drivers (growth by PLN 509 mln):
- PLN 406 mln growth in loans, credits, debt securities resulting from e.g.: an overdraft facility in current account, reclassification of a loan from EIB from non-current liabilities to current liabilities, reclassification of loans obtained from Community funds and reclassification of bonds of LW Bogdanka
- PLN 222 mln growth in provisions for the other liabilities and benefits - establishment of the provision related to the estimation of the value of shares in Eco-Power sp. z o.o.
- PLN 82 mln drop in trade and other liabilities, mainly as a result of lower investment liabilities
- PLN 55 mln drop in current income tax liability
