In reference to regulatory filing no. 6/2017 dated 28 April 2017 on exchange differences in the first quarter of 2017, the Management Board of KGHM Polska Miedź S.A. (“the Company”) announces that today it decided to correct its judgment on the functional currency of the subsidiary Future 1 Sp. z o.o. (Future 1) and to change it from the Polish zloty (PLN) to the US dollar (USD) for the purposes of the consolidated financial statements. The change was made as a result of a reassessment of the currency of the primary economic environment in which Future 1 operates.
At a Glance
A brief overview of KGHM