13. Quarterly financial information of the Group
in PLN millions, unless otherwise stated
CONSOLIDATED STATEMENT OF PROFIT OR LOSS
| from 1 October 2018 to 31 December 2018 | from 1 October 2017 to 31 December 2017 | from 1 January 2018 to 31 December 2018 | from 1 January 2017 to 31 December 2017 | ||
|---|---|---|---|---|---|
| Note 2.3 | Revenues from contracts with customers, including: | 5 739 | 5 871 | 20 526 | 20 358 |
| from sales, for which the amount of revenue was not finally determined at the end of the reporting period (IFRS 15. 114) | 341 | N/A* | 1 423 | N/A* | |
| Note 4.1 | Cost of sales | (4 753) | (4 415) | (16 555) | (15 204) |
| Gross profit | 986 | 1 456 | 3 971 | 5 154 | |
| Note 4.1 | Selling costs and administrative expenses | (394) | (386) | (1 380) | (1 343) |
| Profit on sales | 592 | 1 070 | 2 591 | 3 811 | |
| Note 6.1 | Share of losses of joint ventures accounted for using the equity method | (404) | (259) | (662) | (474) |
| Note 6.2 | Gains due to the reversal of allowances for impairment on loans granted to joint ventures | 733 | - | 733 | - |
| Note 6.2 | Interest income on loans granted to joint ventures calculated using the effective interest rate method | 65 | 79 | 257 | 319 |
| Profit or loss on involvement in joint ventures | 394 | (180) | 328 | (155) | |
| Note 4.2 | Other operating income and (costs), including: | 129 | (1 315) | 308 | (2 377) |
| interest income calculated using the effective interest rate method | 2 | N/A* | 8 | N/A* | |
| Note 4.3 | Finance income and (costs) | (241) | 288 | (761) | 1 020 |
| Profit before income tax | 874 | (137) | 2 466 | 2 299 | |
| Note 5.1 | Income tax expense | (192) | 3 | (808) | (774) |
| PROFIT/(LOSS) FOR THE PERIOD | 682 | (134) | 1 658 | 1 525 | |
| Profit/(Loss) for the period attributable to: | |||||
| Shareholders of the Parent Entity | 684 | (87) | 1 657 | 1 568 | |
| Non-controlling interest | (2) | (47) | 1 | (43) | |
| Weighted average number of ordinary shares (million) | 200 | 200 | 200 | 200 | |
| Basic/diluted earnings per share (in PLN) | 3.42 | (0.44) | 8.29 | 784 | |
* N/A – not applicable – items in which the following did not occur: measurement in accordance with principles arising from the application, from 1 January 2018, of IFRS 9, and the disclosure requirement of IFRS 15.
Explanatory notes to the consolidated statement of profit or loss
Note 13.1 Expenses by nature
| from 1 October 2018 to 31 December 2018 | from 1 October 2017 to 31 December 2017 | from 1 January 2018 to 31 December 2018 | from 1 January 2017 to 31 December 2017 | |
|---|---|---|---|---|
| Depreciation of property, plant and equipment and amortisation of intangible assets | 478 | 447 | 1 903 | 1 684 |
| Employee benefits expenses | 1 332 | 1 338 | 5 202 | 4 956 |
| Materials and energy | 2 007 | 1 874 | 7 097 | 7 460 |
| External services | 683 | 626 | 2 404 | 2 156 |
| Minerals extraction tax | 374 | 456 | 1 671 | 1 765 |
| Other taxes and charges | 130 | 118 | 535 | 506 |
| Reversal of impairment losses on property, plant and equipment and intangible assets | (26) | (344) | (26) | (344) |
| Advertising costs and representation expenses | 24 | 19 | 62 | 57 |
| Property and personal insurance | 14 | 9 | 54 | 34 |
| Impairment losses on property, plant and equipment and intangible assets | 35 | 92 | 35 | 92 |
| Other costs | 16 | 58 | 103 | 157 |
| Total expenses by nature | 5 067 | 4 693 | 19 040 | 18 523 |
| Cost of merchandise and materials sold (+) | 131 | 134 | 653 | 571 |
| Change in inventories of finished goods and work in progress (+/-) | 395 | 379 | (375) | (1 079) |
| Cost of products for internal use of the Group (-) (mainly stripping costs of surface mines) | (446) | (405) | (1 383) | (1 468) |
| Total cost of sales, selling costs and administrative expenses, including: | 5 147 | 4 801 | 17 935 | 16 547 |
| Cost of sales | 4 753 | 4 415 | 16 555 | 15 204 |
| Selling costs | 102 | 104 | 374 | 371 |
| Administrative expenses | 292 | 282 | 1 006 | 972 |
Note 13.2 Other operating income and (costs)
| from 1 October 2018 to 31 December 2018 | from 1 October 2017 to 31 December 2017 | from 1 January 2018 to 31 December 2018 | from 1 January 2017 to 31 December 2017 | |
|---|---|---|---|---|
| Measurement and realisation of derivatives | 69 | 1 | 216 | 231 |
| interest income calculated using the effective interest rate method | 2 | N/A* | 8 | N/A* |
| Exchange differences on assets and liabilities other than borrowings | 215 | - | 593 | - |
| Release of unused provisions | 22 | 82 | 51 | 132 |
| Other | 39 | 89 | 166 | 199 |
| Total other operating income | 347 | 172 | 1 034 | 562 |
| Measurement and realisation of derivatives | (105) | (216) | (305) | (492) |
| Exchange differences on assets and liabilities other than borrowings | - | (390) | - | (1 466) |
| Impairment losses on financial instruments | (18) | N/A* | (24) | N/A* |
| impairment losses on fixed assets under construction and intangible assets not yet available for use | (46) | (772) | (60) | (773) |
| Provisions recognised | (18) | (31) | (183) | (52) |
| Other | (31) | (78) | (154) | (156) |
| Total other operating costs | (218) | (1 487) | (726) | (2 939) |
| Other operating income/(costs) | 129 | (1 315) | 308 | (2 377) |
* N/A – not applicable – items which were not measured in accordance with principles arising from the application, from 1 January 2018, of IFRS 9.
Note 13.3 Finance income/(costs)
| from 1 October 2018 to 31 December 2018 | from 1 October 2017 to 31 December 2017 | from 1 January 2018 to 31 December 2018 | from 1 January 2017 to 31 December 2017 | |
|---|---|---|---|---|
| Exchange differences on borrowings | - | 336 | - | 1 251 |
| Measurement of derivatives | (17) | - | 11 | - |
| Total finance income | (17) | 336 | 11 | 1 251 |
| | ||||
| Interest on borrowings | (1) | (21) | (93) | (96) |
| Unwinding of the discount of provisions effect | (44) | (43) | (50) | (50) |
| Bank fees and charges on borrowings | 9 | (12) | (15) | (44) |
| Measurement of derivatives | - | - | - | (30) |
| Exchange differences on borrowings | (206) | - | (593) | - |
| Other | 18 | 28 | (21) | (11) |
| Total finance costs | (224) | (48) | (772) | (231) |
| Finance income and (costs) | (241) | 288 | (761) | 1 020 |