Grupa Kety S A : Strategy of Grupa Kęty S.A. Capital Group development for the years 2021–2025 – supplement

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22.01.2021 Strategy of Grupa Kęty S.A. Capital Group development for the years 2021-2025 - supplement

The Management Board of Grupa Kęty S.A. (hereinafter referred to as the Company) discloses in public a supplement to the current report No. 65/2020 of 16 December 2020 regarding the development strategy of Grupa Kęty S.A. Capital Group for the years 2021-2025 (hereinafter referred to as the Report), comprising definitions to the 'EBITDA', 'EBIT' and 'net debt' parameters used in the Report, which have not been defined in the IFRS accounting standards and, therefore, represent an alternative measurement of results in accordance with the ESMA Guidelines on Alternative Performance Measures (ESMA/2015/1415).

The 'EBITDA' parameter applied in the Report represents the total net profit on operating activities (an item of the profit and loss account for the respective reporting year) and depreciation (an item of the profit and loss account for the respective reporting year). The 'EBITDA' parameter is a measure presenting the capability of the Company to generate cash on basic activities. The 'EBITDA' ratio calculated in accordance with the above mentioned guidelines would amount to PLN 523.1 million in the consolidated financial statements for 2019.

The 'EBIT' parameter applied in the Report is equivalent to net profit on operating activities (an item of the profit and loss account for the respective reporting year). The 'EBIT' ratio calculated in accordance with the above mentioned guidelines would amount to PLN 384.9 million in the consolidated financial statements for 2019.

The 'net debt' parameter applied in the Report represents the total of long-term loan payables (an item of the balance-sheet Equity and Liabilities) and short-term loan payables (an item of the balance-sheet Equity and Liabilities), less the value of cash and cash equivalents (an item of the balance-sheet Assets). The 'net debt' ratio presents the value of debt in consideration of the cash available, which may be allocated to the debt repayment. The 'net debt' ratio calculated in accordance with the above mentioned guidelines would amount to PLN 703.4 million in the consolidated financial statements for 2019.

The presentation of the aforesaid parameters in the Report by the Company results from their general application in financial analysis and valuation of the Issuer's Capital Group by the Company interest holders.

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