Table. Consolidated statement of cash flows
| in PLN thousand | Note | For the year ended 31 December 2020 |
For the year ended 31 December 2019 |
|---|---|---|---|
| current period | previous period |
||
| Cash flows from operating activities | |||
| Profit before tax for the period | 157 768 | 106 450 | |
| Income tax paid | -26 589 | -28 731 | |
| Adjustments | |||
| Depreciation, amortisation and impairment losses | 161 741 | 143 438 | |
| Loss on disposal of property, plant and equipment | 684 | 30 | |
| Interest and dividends | 2 391 | 3 063 | |
| Other adjustments | 9 005 | -8 139 | |
| Change in carbon-dioxide emission rights acquired for redemption | -58 083 | 1 483 | |
| Change in receivables | -207 576 | -91 557 | |
| Change in inventories | 2 815 | -9 047 | |
| Change in short-term and other liabilities, except for loans and borrowings |
136 954 | 75 830 | |
| Change in employee benefits | 869 | -592 | |
| Change in other assets | -25 593 | -2 955 | |
| Net cash from operating activities | 154 386 | 189 273 | |
| Cash flows from investing activities | |||
| Proceeds from disposal of intangible assets and property, plant and equipment |
3 009 | 848 | |
| Proceeds from sale of financial assets | - | 28 | |
| Purchases of intangible assets and property, plant and equipment | -165 049 | -165 629 | |
| Net cash from investing activities | -162 040 | -164 753 | |
| Cash flows from financing activities | |||
| Grants received | 8 515 | 925 | |
| Repayment of loans and borrowings | - | -24 750 | |
| Interest paid | - | -581 | |
| Lease payments | -2 972 | -2 855 | |
| Net cash from financing activities | 5 543 | -27 261 | |
| Total net cash flows | -2 111 | -2 741 | |
| Net change in cash and cash equivalents | -2 111 | -2 741 | |
| Cash and cash equivalents at the beginning of the period | 16 194 | 18 935 | |
| Cash and cash equivalents at the end of the period | 14 083 | 16 194 | |
Koszt własny sprzedaży
Table. Costs of goods, merchandise and raw material sold
| in PLN thousand | For the year ended 31 December 2020 |
For the year ended 31 December 2019 (transformed data) |
|---|---|---|
| Cost of goods sold | -979 896 | -845 869 |
| Cost of merchandise and raw materials sold | -93 130 | -64 907 |
| -1 073 026 | -910 776 |
Table. Expenses by nature
| in PLN thousand | For the year ended 31 December 2020 |
For the year ended 31 December 2019 -transformed data |
|---|---|---|
| Depreciation, amortisation and impairment losses | -161 741 | -143 438 |
| Materials and energy | -466 491 | -459 915 |
| External services | -131 834 | -115 701 |
| Taxes and charges, including: | -233 258 | -128 720 |
| CO2 allowances | -200 951 | -101 497 |
| Costs of employee benefits | -70 087 | -68 000 |
| Other expenses by nature | -6 791 | -10 412 |
| Total expenses by nature | -1 070 202 | -926 186 |
| Cost of merchandise and raw materials sold | -93 130 | -64 907 |
| Total cost of goods, merchandise and raw material sold, selling expenses and general and administrative expenses | -1 163 332 | -991 093 |
| Selling and distribution expenses | 26 429 | 26 757 |
| General and administrative expenses | 63 877 | 53 560 |
| Cost of sales | -1 073 026 | -910 776 |
Table. Employee benefits costs
| in PLN thousand | For the year ended 31 December 2020 |
For the year ended 31 December 2019 (transformed data) |
|---|---|---|
| Payroll expenses | -54 291 | -51 188 |
| Social security contributions | -10 725 | -10 115 |
| Change in employee benefits | -1 409 | 1 188 |
| Cost of Voluntary Leave Programme | -1 535 | -1 398 |
| Other post-employment benefits | -179 | -89 |
| Other employee benefits | -6 759 | -6 398 |
| -74 898 | -68 000 | |
| Payroll costs reclassified to capital expenditures | 4 811 | - |
| -70 087 | -68 000 |
Koszt własny sprzedaży
Table. Cash, cash equivalents
| in PLN thousand | As at 31 December 2020 |
As at 31 December 2019 (transformed data) |
|---|---|---|
| Cash at bank | 1 314 | 14 091 |
| Cash in VAT accounts | 12 769 | 2 103 |
| Cash and cash equivalents in the statement of financial position | 14 083 | 16 194 |
| Cash and cash equivalents in the statement of cash flows | 14 083 | 16 194 |
Koszt własny sprzedaży
Table. Reconciliation of change in receivables
| in PLN thousand | For the year ended 31 December 2020 |
For the year ended 31 December 2019 |
|---|---|---|
| Change in long-term receivables | 533 | 1 707 |
| Change in trade and other receivables | -205 137 | -94 866 |
| Adjustment due to change in receivables due from sale of tangible fixed assets | -2 972 | 1 602 |
| Change in receivables in the statement of cash flows | -207 576 | -91 557 |
Koszt własny sprzedaży
Table. Reconciliation of movements in liabilities, deferred income and provisions
| in PLN thousand | For the year ended 31 December 2020 |
For the year ended 31 December 2019 |
|---|---|---|
| Change in trade and other payables (long-term) and short-term | 32 201 | 11 794 |
| Change in deferred income | 1 207 | -5 591 |
| Change in provisions (long-term) and short-term | 110 794 | 66 303 |
| Adjustment due to change in liabilities due to acquisition of tangible fixed assets |
1 267 | 4 249 |
| Adjustment for grants received | -8 515 | -925 |
| Change in liabilities in the statement of cash flows | 136 954 | 75 830 |
Koszt własny sprzedaży
Table. Reconciliation of investment expenditure
| in PLN thousand | For the year ended 31 December 2020 |
For the year ended 31 December 2019 |
|---|---|---|
| Additions to intangible assets, property, plant and equipment, and investment property (movement tables) | -163 782 | -161 380 |
| Adjustment due to change in liabilities due to acquisition of tangible fixed assets | -1 267 | -4 249 |
| Acquisition of intangible assets and property, plant and equipment in the statement of cash flows | -165 049 | -165 629 |
Koszt własny sprzedaży
Table. Reconciliation of Other adjustments
| in PLN thousand | For the year ended 31 December 2020 |
For the year ended 31 December 2019 |
|---|---|---|
| The valuation of contracts for the sale of CO2 emission right | 8 827 | -7 557 |
| The valuation of contracts to hedge foreign currency exchange rate | 1 364 | - |
| Lease | 93 | -61 |
| Accrued interests | - | -31 |
| Other comrehensive income | -1 279 | -684 |
| Change of composition of consolidated entities | - | 194 |
| Other adjustments in the statement of cash flows | 9 005 | -8 139 |
Koszt własny sprzedaży
Table. Cash flows from financing activities
| in PLN thousand | For the year ended 31 December 2020 |
For the year ended 31 December 2019 |
|---|---|---|
| Change in loans, borrowings and debt instruments | - | -24 781 |
| Recognition of a lease liability (IFRS 16) | - | -58 296 |
| Grants received | 8 515 | -925 |
| Lease payments | -2 972 | -2 421 |
| Right-of-use asset recognition (IFRS 16) | - | -58 730 |
| Interest paid | - | -581 |
| Accrued interests (WFOŚiGW) | - | -31 |
| Cash flow from financing activities in the statement of cash flows | 5 543 | -27 261 |