INTEGRATED ESG
REPORT 2020

- A +
PL

5.1 Debt reconciliation

Accounting policies

The Group defines net debt as the total of existing bank borrowings (both short-term and long-term), debt securities, lease liabilities and liabilities under non-bank borrowings, less cash and cash equivalents. The Group presents net debt to EBITDA as a measure of its debt.

XLS

Net debt Note 2020 2019
Bank borrowings 1,764 1,712
Lease liabilities 2,007 1,775
Other 88 20
Razem zobowiązania z tytułu zadłużenia długoterminowego 3,859 3,507
Bank borrowings 231 3,181
Lease liabilities 82 64
Other 12 –
Total non-current financing liabilities 325 3,245
Total debt 4,184 6,752
Cash and cash equivalents Note 5.4. 7,098 3,037
Net debt (2,914) 3,715
EBITDA Note 2.2. 13,009 5,504
Net debt / EBITDA (0.22) 0.67

Change in net debt at the PGNiG Group (PLNm)

XLS

Change in debt Bank borrowings Debt
securities		 Lease liabilities Other Total
As at Jan 1 2019 1,385 2,298 19 – 3,702
Impact of IFRS 16 – – 1,817 – 1,817
Increase in debt 3,871 – – 20 3,891
financing received 3,831 – – 20 3,851
transaction costs 40 – – – 40
Interest accrued 59 7 77 2 145
Increase (new agreements) – – 95 – 95
Decrease (expired agreements) – – (8) – (8)
Debt-related payments (398) (2,305) (163) (2) (2,868)
principal repayments (281) (2,290) (153) – (2,724)
interest paid (58) (15) (10) (2) (85)
commission fees paid (59) – – – (59)
Exchange differences on debt in foreign currencies (24) – 2 – (22)
As at Dec 31 2019 4,893 – 1,839 20 6,752
Increase in debt 431 – – 80 511
financing received 416 – – 80 496
transaction costs 15 – – – 15
Interest accrued 51 – 84 – 135
Increase (new agreements) – – 357 – 357
Decrease (expired agreements) – – (8) – (8)
Modifications and changes to term estimate – – 7 – 7
Debt-related payments (3,415) – (190) – (3,605)
principal repayments (3,347) – (181) – (3,528)
interest paid (55) – (9) – (64)
commission fees paid (13) – – – (13)
Exchange differences on debt in foreign currencies 35 – – – 35
As at Dec 31 2020 1,995 – 2,089 100 4,184
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5.2 Financing liabilities

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