in PLN millions, unless otherwise stated
| from 1 January 2020 to 31 December 2020 |
from 1 January 2020 to 31 December 2019 |
|
|---|---|---|
| Cash flow from operating activities | ||
| Profit before income tax | 2 756 | 2 122 |
| [Note 9.3] Depreciation/amortisation recognised in profit or loss | 1 963 | 1 920 |
| [Note 6.1] Share of losses of a joint venture accounted for using the equity method | 204 | 438 |
| [Note 4.4] Gains due to the reversal of allowances for impairment of loans granted to a joint venture | ( 74) | ( 106) |
| [Note 6.2] Interest on loans granted to a joint venture | ( 377) | ( 341) |
| Other interest | 159 | 244 |
| Impairment losses on non-current assets | 239 | 51 |
| Exchange differences, of which: | ( 101) | 184 |
| from investment activities and cash | 87 | ( 29) |
| from financing activities | ( 188) | 213 |
| Change in provisions for decommissioning of mines, employee benefits liabilities and other provisions | – | 114 |
| Change in other receivables and liabilities other than working capital | 584 | ( 176) |
| Change in assets and liabilities due to derivatives | ( 171) | ( 31) |
| Reclassification of other comprehensive income to profit or loss due to the realisation of hedging derivatives | ( 42) | ( 86) |
| [Note 12.9] Other adjustments | 11 | 2 |
| Exclusions of income and costs, total | 2 395 | 2 213 |
| Income tax paid | ( 667) | ( 410) |
| [Note 10.4] Changes in working capital, including: | 1 172 | 1 123 |
| change in trade payables transferred to factoring | 652 | 595 |
| Net cash generated from operating activities | 5 656 | 5 048 |
| Cash flow from investing activities | ||
| [Note 9.1.3] Expenditures on mining and metallurgical assets, including: | (3 060) | (2 872) |
| paid capitalised interest on borrowings | ( 129) | ( 123) |
| Expenditures on other property, plant and equipment and intangible assets | ( 397) | ( 360) |
| Expenditures on financial assets designated for decommissioning mines and other technological facilities | ( 22) | ( 293) |
| Acquisition of newly-issued shares of joint ventures | ( 207) | ( 439) |
| Proceeds from financial assets designated for decommissioning mines and other technological facilities | 11 | 335 |
| Other | 14 | ( 14) |
| Net cash used in investing activities | (3 661) | (3 643) |
| Cash flow from financing activities | ||
| Proceeds from borrowings | 4 247 | 4 730 |
| Proceeds from issue of debt financial instruments | – | 2 000 |
| Proceeds from derivatives related to sources of external financing | 52 | – |
| Repayment of borrowings | (4 513) | (7 746) |
| Repayment of lease liabilities | (97) | (52) |
| Expenditures due to derivatives related to sources of external financing | (78) | – |
| Interest paid, including due to: | (177) | (239) |
| [Note 8.4.2] borrowings | (165) | (238) |
| Other | 18 | (1) |
| Net cash used in financing activities | (548) | (1 308) |
| NET CASH FLOW | 1 447 | 97 |
| Exchange gains/(losses) | 59 | (38) |
| Cash and cash equivalents at beginning of the period | 1 016 | 957 |
| Cash and cash equivalents at end of the period, including: | 2 522 | 1 016 |
| restricted cash | 21 | 34 |