Energa to reverse PLN 116.6 mln asset impairments

WSE-listed power utility Energa will boost its 2018 net result by PLN 94.5 million, thanks to reversing PLN 116.6 million impairments on its wind farm assets, following regulatory changes, the company said in a market filing.

Energa said that this operation will have a positive impact on the group’s operating result, without affecting the EBITDA result.

After taking into account the reversal of write-offs, the book value of wind farms in the consolidated balance sheet of the Energa group amounts to PLN 664.36 million.

The company said that the data presented is an estimate, will be audited by the auditor and may change. The final test result and the size of reversal of write-offs will be presented in the report for the first half of 2018.

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