Discontinued operations’ 2019-2020 financial data
Export to Excel| Item (PLN ‘000) | 2019 | 2020 | Dynamics (2020/2019) | Change (2020-2019) |
|---|---|---|---|---|
| Sales revenue | 445,957 | 482,608 | 108% | 36,652 |
| EBIT | 96,406 | (717,342) | – | (813,748) |
| Depreciation and write-downs | 81,720 | 888,461 | 1087% | 806,741 |
| EBITDA | 178,126 | 171,119 | 96% | (7,007) |
Discontinued Operations Segment’s 2019-2020 financial data
As of the date of placing TAURON Ciepło’s net assets in the group for disposal, classified as held for sale, TAURON Capital Group performed a valuation of the group for disposal at fair value (mark to market). The fair value was, as of the balance sheet date, determined to stand at PLN 1,342,000 ,000. In connection with the fact that the fair value of the group for disposal is lower than its current book value (carrying amount), TAURON Capital Group took an impairment charge related to the loss of the carrying value of the non-financial fixed assets in the amount of PLN 822,009,000.
Major investments (CAPEX)
In terms of the discontinued operations, the main capital expenditures in 2020 are related to the outlays incurred by TAURON Ciepło subsidiary that clocked in at PLN 101 million, including spending on the following investment projects:
- PLN 33 million on connecting of the new facilities to the grid,
- PLN 16 million on the investment projects related to the development and maintenance of the district heating networks,
- PLN 9 million on connecting of the facilities heated thus far from the low emission sources to the district heating networks.