GPW - Giełda Papierów Wartościowych w Warszawie S.A.

Earnings Release • Mar 7, 2025

Report Content Current Report No. 2/2025Date: 7 March 2025Topic: Assetimpairment chargesLegal basis: Article 17(1) MAR - Inside informationContent:TheManagement Board of the Warsaw Stock Exchange S.A. ("GPW", "Company","Exchange") announces that in the process of preparation of theconsolidated and separate financial statements for 2024, the mainanalyses conducted as part of the Company's asset impairment tests havebeen completed. As a result of the above, GPW expects to create andrecognise asset impairment charges in the consolidated financialstatements for 2024 in the amount of PLN 29 million. The negative impactof the impairment on GPW SA standalone profit for 2024 will amount toPLN 40 million. The impairment mainly affects intangible assets andinvestment in subsidiaries related to projects outside GPW's corebusiness. The assets included in the revaluation, in the opinion of theManagement Board, will not be able to generate economic benefits in thefuture that would justify their previous valuation and expenditures.Someof the investments affected by the impairment were partly financed withexternal funds, which is why, in the absence of economic justificationfor their implementation, the Company expects to set up a provision forthe potential repayment of grants received whose value, includinginterest, is estimated at PLN 12 million, of which PLN 8 million will becharged to the consolidated result of the GPW Group and the standaloneresult of GPW SA for 2024.The total negative impact of theseevents on the GPW Group's consolidated profit before tax for 2024 willbe PLN 37 million, and the total negative impact on GPW SA standaloneprofit before tax for 2024 will be PLN 48 million.In the opinionof the GPW Management Board, these events will not affect theimplementation of the Company's dividend policy and the amount of thedividend payment for 2024.GPW announces that the above amountsare subject to change during further work on the preparation of theCompany's consolidated and separate financial statements for 2024,scheduled for publication on 25 March 2025. The financial statementswill include details of the tests performed and their results for eachasset.Legal basis: Article 17(1) of Regulation (EU) No. 596/2014of the European Parliament and of the Council of 16 April 2014 on marketabuse (market abuse regulation) and repealing Directive 2003/6/EC of theEuropean Parliament and of the Council and Commission Directives2003/124/EC, 2003/125/EC and 2004/72/EC (Official Journal L No. 173)("MAR").