10.2. Restatement of comparable data
Presentation of discontinued operations due to loss of control over TAURON Wydobycie S.A.
On 31 December 2022, the Group lost control of its subsidiary TAURON Wydobycie S.A., as further described in note 3 of consolidated financial statements.
As a result of the foregoing, the Group assessed that the operations of the subsidiary, TAURON Wydobycie S.A., over which the Group lost control, including hard coal mining, formerly representing a separate operating segment, constituted a separate material line of business of the Group, meeting the definition of discontinued operations under IFRS 5 Non-current Assets Held for Sale and Discontinued Operations. Accordingly, the Group presents and discloses information on discontinued operations as further described in note 22 of consolidated financial statements. The comparative data has been restated accordingly, in accordance with the requirements of paragraph 34 of IFRS 5 Non-current Assets Held for Sale and Discontinued Operations, as presented in the table below.
| Year ended 31 December 2021 (approved figures) |
Presentation of discontinued operations
|
Year ended 31 December 2021 (restated figures) |
|
|---|---|---|---|
| Sales revenue | 25 614 | (450) | 25 164 |
| Recompensation revenue | (9) | − | (9) |
| Cost of sales | (23 623) | 695 | (22 928) |
| Profit on sale | 1 982 | 245 | 2 227 |
| Selling and distribution expenses | (562) | 77 | (485) |
|
Administrative expenses |
(635) | 145 | (490) |
|
Other operating income and expenses |
99 | (23) | 76 |
|
Share in profit/(loss) of joint ventures |
32 | − | 32 |
| Operating profit | 916 | 444 | 1 360 |
| Interest expense on debt | (368) | 3 | (365) |
|
Finance income and other finance costs |
127 | 3 | 130 |
| Profit before tax | 675 | 450 | 1 125 |
| Income tax expense | (290) | (3) | (293) |
| Net profit on continuing operations | 385 | 447 | 832 |
| Net loss on discontinued operations | − | (447) | (447) |
| Net profit | 385 | − | 385 |
| Measurement of hedging instruments | 455 | − | 455 |
| Foreign exchange differences from translation of foreign entity | 16 | − | 16 |
| Income tax | (88) | − | (88) |
| Other comprehensive income on continuing operations to be reclassified in the financial result | 383 | − | 383 |
| Actuarial gains | 118 | (14) | 104 |
| Income tax | (21) | 3 | (18) |
| Other comprehensive income on continuing operations not to be reclassified in the financial result | 97 | (11) | 86 |
| Other comprehensive income on discontinued operations | − | 11 | 11 |
| Other comprehensive income, net of tax | 480 | − | 480 |
| Total comprehensive income | 865 | − | 865 |
| Net profit: | |||
| Attributable to equity holders of the Parent | 338 | − | 338 |
| Attributable to non-controlling interests | 47 | − | 47 |
| Total comprehensive income: | |||
| Attributable to equity holders of the Parent | 818 | − | 818 |
| Attributable to non-controlling interests | 47 | − | 47 |
| Earnings per share basic and diluted (in PLN): | |||
| net profit for the period attributable to shareholders of the parent company | 0.19 | − | 0.19 |
| net profit from continuing operations for the period attributable to shareholders of the parent company | 0.19 | 0.26 | 0.45 |
Change in the presentation of transferred collaterals on transaction and security deposits as part of settlements with Izba Rozliczeniowa Giełd Towarowych S.A. in the consolidated statement of cash flows
In the year ended 31 December 2022, the Group changed the presentation of transferred collaterals on transaction and security deposits as part of its settlements with Izba Rozliczeniowa Giełd Towarowych S.A. (“IRGiT”) of the consolidated statement of cash flows. The above collaterals up to this moment had been presented as part of cash. After the change in presentation, the changes in these collaterals have been presented within the Group’s operating cash flow. Comparable figures have been restated accordingly.
|
Year ended 31 December 2021 (approved figures) |
Presentation of collaterals provided to IRGIT |
Year ended 31 December 2021 (restated figures) |
|
|---|---|---|---|
| Cash flows from operating activities | |||
| Change in working capital | 1 256 | (47) | 1 209 |
| Net cash from operating activities | 5 002 | (47) | 4 955 |
| Increase/(decrease) in net cash and equivalents | (104) | (47) | (151) |
| Cash opening balance | 895 | (121) | 774 |
| Cash closing balance, including: | 791 | (168) | 623 |
| of limited disposal | 314 | (168) | 146 |