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Increase of share in Group companies
In 2019, PGE EC S.A. acquired 49.96% of shares in PGE Gaz Toruń sp. z o.o. and became the sole shareholder of this company. The transaction resulted in an outflow of funds from PGE Group in the amount of PLN 275 million.
In addition, PGE EC S.A. acquired 25,634 shares in PGE Ekoserwis sp. z o.o. from minority shareholders. Subsequently, two sale agreements were concluded between PGE S.A. as the buyer and PGE EC S.A. as the seller, concerning all shares in PGE Ekoserwis sp. z o.o. held by PGE EC S.A. The transaction resulted in an outflow of funds from PGE Group in the amount of PLN 7 million.
In 2018, the Group acquired additional shares in subsidiaries, PGE EC S.A. and KOGENARACJA S.A. The price paid for the shares was PLN 13 million and PLN 98 million, respectively.
Proceeds from credit facilities and loans
In the current reporting period, PGE S.A. contracted credit facilities in the total amount of PLN 5,287 million (PLN 2,438 million in 2018). In addition, companies in the Conventional Generation segment received credit facilities and loans from environmental funds in the total amount of approx. PLN 70 million (PLN 106 million in 2018).
Proceeds from issue of bonds
In the current reporting period, the Company issued two tranches of bonds with the total value of PLN 1,400 million. The bonds will be redeemed in 2026 and 2029.
Repayment of loans, credit facilities and finance leases
In the current reporting period, the PGE S.A. repaid credit facilities in the total amount of PLN 3,537 million.
Apart from the above, the item includes mainly repayment of credit facilities and loans contracted with environmental funds by the Conventional Generation segment with a total value of approximately PLN 182 million in the current and PLN 200 million in the previous reporting period.
Redemption of bonds issued
In the current reporting period, there was a partial redemption of bonds worth PLN 2,139 million by PGE Sweden AB (publ), a subsidiary of PGE S.A.
Interest paid
In the current reporting period, the item includes mainly interest on loans and credit facilities in the amount of PLN 196 million, on bonds in the amount of PLN 75 million and on financial instruments (CCIRS and IRS) in the amount of PLN 41 million, on lease liabilities in the amount of PLN 15 million.
In 2018, the item mainly comprises interest on loans and credit facilities in the amount of PLN 148 million, on bonds in the amount of PLN 65 million and on financial instruments (CCIRS and IRS) in the amount of PLN 87 million.
