Ciech S.A. — Interim / Quarterly Report 2019

Jul 25, 2019

Changes in the Extended Consolidated Quarterly Report of the CIECH Group for the first quarter of 2019:

CONSOLIDATED STATEMENT OF FINANCIAL POSITION OF THE CIECH GROUP	31.03.2019 previously published	(a) provision for tax liabilities	(b) provision for late payment interest	(c) write-off of deferred income tax assets	(d) set - off of deferred tax assets	31.03.2019 after adjustment
ASSETS
Deferred income tax assets	75,558	-	-	(18,337)	9,166	66,387
Total non-current assets	3,665,355	-	-	(18,337)	9,166	3,656,184
Total assets	4,965,935	-	-	(18,337)	9,166	4,956,764
EQUITY AND LIABILITIES
Retained earnings	1,260,067	(46,537)	(6,927)	(18,337)	-	1,188,266
Equity attributable to shareholders of the parent	2,007,611	(46,537)	(6,927)	(18,337)	-	1,935,810
Total equity	2,007,958	(46,537)	(6,927)	(18,337)	-	1,936,157
Deferred income tax liability	57,525	-	-	-	9,166	66,691
Total non-current liabilities	1,696,968	-	-	-	9,166	1,706,134
Other provisions	121,984	46,537	6,927	-	-	175,448
Total current liabilities	1,261,009	46,537	6,927	-	-	1,314,473
Total liabilities	2,957,977	46,537	6,927	-	9,166	3,020,607
Total equity and liabilities	4,965,935	-	-	(18,337)	9,166	4,956,764

CONSOLIDATED STATEMENT OF PROFIT OR LOSS OF THE CIECH GROUP	3 months ended 31.03.2019 previously published	(b) provision for late payment interest	3 months ended 31.03.2019 after adjustment
Financial expenses	(15,653)	(813)	(16,466)
Net financial income/(expenses)	(10,391)	(813)	(11,204)
Net profit/(loss) on continuing operations	62,643	(813)	61,830
Net profit / (loss) for the year	62,643	(813)	61,830
including:
Net profit/(loss) attributable to shareholders of the parent company	62,588	(813)	61,775
Net profit/(loss) attributed to non-controlling interest	55	-	55
Earnings per share (in PLN):
Basic	1.19	(0.02)	1.17
Diluted	1.19	(0.02)	1.17

CONSOLIDATED STATEMENT OF OTHER COMPREHENSIVE INCOME OF THE CIECH GROUP	3 months ended 31.03.2019 previously published	(b) provision for late payment interest	3 months ended 31.03.2019 after adjustment
Net profit/(loss) on continuing operations	62,643	(813)	61,830
Net profit / (loss) for the year	62,643	(813)	61,830
OTHER COMPREHENSIVE INCOME	37,843	(813)	37,030
Other comprehensive income net of tax	37,843	(813)	37,030
Comprehensive income including attributable to:	37,784	(813)	36,971
Shareholders of the parent company	59	-	59

Following changes presented above, the following elements and the explanatory notes to the Interim Condensed consolidated financial statements of the CIECH Group for the first quarter of 2019 have been corrected:

• The CIECH Group Selected consolidated financial data (page 2),
• Condensed Consolidated Statement of Cash Flows of the CIECH Group,
• Condensed Statement of changes in Consolidated Equity of the CIECH Group,
• note 2.5 Segment reporting,
• note 2.6 Provisions and impairment allowances on assets,
• note 2.7 - Income tax, deferred tax assets and liability,
• point 3.5.1 Basic financial data, including a description and table "Selected financial data" ,
• point 3.5.4 Financing activities and net profit/loss,
• point 3.5.5 Asset position of the CIECH Group, including:
  • Table Basic consolidated balance sheet data,
  • Section Assets,
  • Section Liabilities,
• point 3.5.6 Cash position of the CIECH Group, including the second table in item,
• point 3.5.7 Working capital and selected financial ratios of the CIECH Group, including:
  • Section Liquidity of the CIECH Group and table to section,
  • Section Working capital of the CIECH Group and table to section,
  • Table The CIECH Group's profitability ratios,
  • Section Indebtedness,
  • Table The CIECH Group's debt ratios,
• point 3.12 – Loan or borrowing sureties or guarantees granted by CIECH S.A. or its subsidiary and other contingent liabilities (audits of tax settlements).

Furthermore, note 2.2.1 Note of the correction of the previously published Extended Consolidated Quarterly Report of the CIECH Group for the first quarter of 2019, was introduced to the Extended Consolidated Quarterly Report of the CIECH Group for the first quarter of 2019, containing a detailed description of the reasons for the adjustment, as well as the presentation of changes in the report.

Additionally, in the Extended Consolidated Quarterly Report of the CIECH Group for the first quarter of 2019, minor editorial changes have been introduced that do not affect the content of the above-mentioned report.