1. Non-current assets held for sale and discontinued operations

On 21 July 2015 KOGENERACJA S.A signed an agreement with Wrocław Technology Park terminating cooperation effective from 30 September 2015. As part of the disinvestment process, assets relating to EC Muchobór were partially disposed and the reaming assets were appraised after disassembly and qualified as assets held for sale. As at 31 December 2017, the value of fixed assets presented as assets held for sale was PLN 1 810 thousand. The fair value of the assets held for sale was estimated by valuation expert who used the cost approach (level 3 fair values hierarchy). The Management Board of the Company decided to sell assets, an active plan was implemented to carry out this transaction.

On 17 January 2018 a contract of sale of cogeneration units was signed. The remaining value of non-current assets presented as assets held for sale amounted to PLN 660 thousand.

In December 2018, due to the fact that there was no realistic possibility of selling the remaining part of the assets, the Management Board decided by a resolution to transfer the generation assets of EC Muchobór from assets designated for disposal to property, plant and equipment and to record a revaluation allowance of PLN 660 thousand. As at 31 December 2018, the value of assets held for sale was PLN 0.

There were no discontinued operations in 2018.

1.Non-current assets held for sale and discontinued operations

Download document

Add
to clipboard