These consolidated financial statements have been prepared in accordance with the going concern principle regarding the Group companies in the foreseeable future, i.e. in the period not shorter than 1 year from the balance sheet date. As at the date of approving these consolidated financial statements no circumstances have been detected that could put the going concern operation of the Group’s companies at risk.
The Group identifies and actively manages liquidity risk understood as a possible loss or restriction of its ability to settle current expenses. The Group has retained full ability to pay its liabilities when due. At the balance sheet date, the Group has available financing under financial agreements.
In the year ended 31 December 2020, the COVID-19 pandemic developed in the area of operations of the Group, disrupting the economic and administrative system in Poland and triggering significant changes in the market environment potentially affecting the financial position of the Group and the Company. The Management Board has analysed the situation in the context of COVID-19 and, based on the scenarios considered, at present it does not identify any risks for the continuity of the Group as a going concern in the foreseeable future, i.e. in the period not shorter than 1 year from the balance sheet date, in the areas of liquidity, financing and securing the continuity of operating activities, taking into account the description of the impact of the COVID-19 pandemic on the Group’s activities, as further discussed in Note 59 to these financial statements.