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Consolidated statement of profit or loss 2017 2016
Revenue from sales of gas   28,613   26,429 Note 3.1.
Other revenue   7,244   6,767 Note 3.1.
Revenue   35,857   33,196
Cost of gas sold   (20,127)   (18,320) Note 3.2.
Other raw materials and consumables   (2,586)   (2,427) Note 3.2.
Employee benefits expense   (2,696)   (2,573) Note 3.2.
Transmission services   (1,144)   (1,106)
Other services   (1,749)   (1,412) Note 3.2.
Taxes and charges   (793)   (765)
Other income and expenses   (342)   (332) Note 3.3.
Work performed by the entity and capitalised   992   868
Recognition and reversal of impairment losses on property, plant and equipment
and intangible assets
  (833)   (1,155) Note 3.2.
Operating profit before depreciation and amortisation (EBITDA)   6,579   5,974 Note 2.2.
Depreciation and amortisation   (2,669)   (2,614) Note 2.2.
Operating profit (EBIT)   3,910   3,360 Note 2.2.
Net finance costs   (16)   (76) Note 3.4.
Profit/(loss) from equity-accounted investees   28   (74) Note 2.4.
Profit before tax   3,922   3,210
Income tax   (1,001)   (861) Note 4.1.
Net profit   2,921   2,349
Net profit attributable to:
        owners of the parent   2,923   2,351
        non-controlling interests   (2)   (2)
Weighted average number of ordinary shares (million)   5,778   5,867
        Basic and diluted earnings per share (PLN)   0.51   0.40
Consolidated statement of comprehensive income

2017

2016

Net profit   2,921   2,349
Exchange differences on translating foreign operations   (65)   23
Hedge accounting   (76)   783

Note 7.1.3.

Revaluation of financial assets available for sale   (6)   2
Deferred tax   15   (149)
Share of other comprehensive income of equity-accounted investees   (4)   –
Other comprehensive income subject to reclassification to profit or loss   (136)   659
Actuarial losses on employee benefits   (23)   (29)
Deferred tax   4   5
Share of other comprehensive income of equity-accounted investees   1   (2)
Other comprehensive income not subject to reclassification to profit or loss   (18)   (26)
Other comprehensive income, net   (154)   633
Total comprehensive income   2,767   2,982
Total comprehensive income attributable to:
        owners of the parent   2,769   2,984
        non-controlling interests   (2)   (2)
Consolidated statement of cash flows 2017 2016
Cash flows from operating activities
Net profit   2,921   2,349
Depreciation and amortisation   2,669   2,614
Current tax expense   1,001   861
Net gain/(loss) on investing activities   452   884
Other non-cash adjustments   304   368 Note 5.5.2.
Income tax paid   (755)   (611)
Movements in working capital   (1,776)   (543) Note 5.5.
Net cash from operating activities   4,816   5,922
Cash flows from investing activities
Payments for acquisition of tangible exploration and evaluation assets under
construction
  (740)   (713) Note 2.2.
Payments for other items of property, plant and equipment and intangible assets   (2,422)   (2,255) Note 2.2.
Payments for shares in related entities   (347)   (1 027)
Other items, net   (354)   153
Net cash from investing activities   (3,863)   (3,842)
Cash flows from financing activities
Payment for treasury shares   –   (645)
Increase in debt   2 218   451 Note 5.1.
Proceeds from derivative financial instruments   165   89
Decrease in debt   (5,407)   (1,021) Note 5.1.
Dividends paid   (1,156)   (1,062) Note 3.5.
Payments for derivative financial instruments   (20)   (78)
Other items, net   (4)   (3)
Net cash from financing activities   (4,204)   (2,269)
Net cash flows   (3 251)   (189)
Cash and cash equivalents at beginning of period   5,832   6,021
Foreign exchange differences on cash and cash equivalents   –   (4)
Cash and cash equivalents at end of period   2,581   5,832 Note 5.5.3.

 

Consolidated statement of financial position

2017

2016

ASSETS
Property, plant and equipment   32,452   33,149 Note 6.1.1.
Intangible assets   1,115   1,079 Note 6.1.2.
Deferred tax assets   141   100 Note 4.1.2.
Equity-accounted investees   1,601   1,229 Note 2.4.
Other assets   1,055   679 Note 8.4.
Non-current assets   36,364   36,236
Inventories   2,748   2,510 Note 6.2.1.
Receivables   5,781   4,288 Note 6.2.2.
Derivative financial instruments   450   623 Note 7.2.
Other assets   216   129 Note 8.4.
Cash and cash equivalents   2,578   5,829 Note 5.4.
Assets held for sale   66   57 Note 8.3.
Current assets   11,839   13,436
TOTAL ASSETS   48,203   49,672
EQUITY AND LIABILITIES
Share capital and share premium   7,518   7,518
Accumulated other comprehensive income   (158)   (4)
Retained earnings   26,266   24,499
Equity attributable to owners of the parent   33,626   32,013
Equity attributable to non-controlling interests   1   3
TOTAL EQUITY   33,627   32,016
Financing liabilities   951   1,346 Note 5.1.
Employee benefit obligations   725   702 Note 6.3.1.
Provision for well decommissioning costs   1,717   1,641 Note 6.1.1.1.
Other provisions   181   198 Note 6.3.2.
Grants   767   815 Note 6.3.3.
Deferred tax liabilities   2,019   1,932 Note 4.1.2.
Other liabilities   644   669 Note 6.3.4.
Non-current liabilities   7,004   7,303
Financing liabilities   2,055   5,006 Note 5.1.
Derivative financial instruments   322   346 Note 7.2.
Trade and tax payables*   3,249   3,179 Note 6.2.3.
Employee benefit obligations   371   334 Note 6.3.1.
Provision for well decommissioning costs   53   20 Note 6.1.1.1.
Other provisions   621   560 Note 6.3.2.
Other liabilities   901   908 Note 6.3.4.
Current liabilities   7,572   10,353
TOTAL LIABILITIES   14,576   17,656
TOTAL EQUITY AND LIABILITIES   48,203   49,672

 

*Including income tax of PLN 217m (2016: PLN 180m)
Consolidated statement of changes in equity
Equity attributable to owners of the parent Equity
attributable to
non-controlling
interests
Total
equity
Share capital and share premium, including: Accumulated other comprehensive income: Retained
earnings
Total
Share
capital
Share premium Treasury
shares
Exchange
differences
on translating
foreign
operations
Hedging
reserve
Revaluation
of financial
assets
available for
sale
Actuarial
gains/(losses)
on employee
benefits
Share of other
comprehensive
income of
equityaccounted
investees
At Jan 1 2016 5,900 1,740 (51) (565) (21) 23,733 30,736 5 30,741
Net profit   –   –   –   –   –   –   –   –   2,351   2,351   (2)   2,349
Other comprehensive income, net   –   –   –   23   634   2   (24)   (2)   –   633   –   633
Total comprehensive income   –     –     –     23   634   2   (24)   (2)   2,351   2,984   (2)   2,982
Dividend (1,062) (1,062) (1,062) Note 3.5.
Purchase of treasury shares   –   –   (645)   –   –   –   –   –   –   (645)   –   (645)
Cancellation of treasury shares   (122)   –   645   –   –   –   –   –   (523)   –     –   –  
At Dec 31 2016 5,778 1,740 (28) 69 2 (45) (2) 24,499 32,013 3  32,016
Net profit   –   –   –   –   –   –   –   –   2,923   2,923   (2)   2,921
Other comprehensive income, net   –   –   –   (65)   (62)   (5)   (19)   (3)   –   (154)   –   (154)
Total comprehensive income   –     –     –     (65)   (62)   (5)   (19)   (3)   2,923   2,769   (2)   2,767
Dividend (1,156) (1,156) (1,156) Note 3.5.
As at Dec 31 2017 5,778 1,740 (93) 7 (3) (64) (5) 26,266 33,626 1 33,627

Note 8.1.