Integrated Report of KGHM Polska Miedź S.A.
and the KGHM Polska Miedź S.A. Group
for 2020

CONSOLIDATED STATEMENT OF PROFIT OR LOSS

in PLN millions, unless otherwise stated

from 1 January 2020
to 31 December 2020

from 1 January 2019
to 31 December 2019

[Note 2.3] Revenues from contracts with customers 23 632 22 723
[Note 4.1] Cost of sales (18 981) (18 767)
Gross profit on sales 4 651 3 956
[Note 4.1] Selling costs and administrative expenses (1 490) (1 501)
Profit on sales 3 161 2 455
[Note 6.1] Share of losses of a joint venture accounted for using the equity method (204) (438)
[Note 6.2] Gains due to the reversal of allowances for impairment of loans granted to a joint venture 74 106
[Note 6.2] Interest income on loans granted to a joint venture calculated using the effective interest rate method 377 341
Profit or loss on involvement in a joint venture 247 9
Other operating income, including: 702 809
other interest calculated using the effective interest rate method 4 9
[Note 4.2] Other operating costs, including: (1 326) ( 623)
impairment losses on financial instruments (6) (17)
[Note 4.3] Finance income 259 38
[Note 4.3] Finance costs (287) (566)
Profit before income tax 2 756 2 122
Income tax expense (959) (701)
PROFIT FOR THE PERIOD 1 797 1 421
Profit for the period attributable to:
Shareholders of the Parent Entity 1 800 1 421
Non-controlling interest (3)
Weighted average number of ordinary shares (million) 200 200
Basic/diluted earnings per share (in PLN) 9,00 7,11

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