The Management Board of KGHM Polska Miedź S.A., in reference to regulatory filing no. 28/2017, announces that an amended consolidated quarterly report QSr for the first quarter of 2017 will be published today. The amendment of the report is a result of the correction of the judgment on the functional currency of the subsidiary Future 1 Sp. z o.o. and its change from the Polish zloty (PLN) to the US dollar (USD) for the purposes of the consolidated financial statements.
Below, we present in brief the impact of the aforementioned change on the consolidated quarterly report for the first quarter of 2017:
– an increase in profit for the period, related to the decrease in other operating costs, from PLN 398 million to PLN 710 million – a change in the amount of PLN 312 million,
– a decrease in other comprehensive income from PLN 462 million to PLN 150 million – a change in the amount of PLN 312 million.
Legal basis: § 6 sec. 4 of the Decree of the Minister of Finance dated 19 February 2009 regarding current and periodic information published by issuers of securities and conditions for recognising as equivalent information required by the laws of a non-member state (unified text: Journal of Laws 2014.133 with subsequent amendments)