9/2015 - Information on the decision undertaken by the Management Board of goodwill impairment

The Management Board of Trakcja PRKiI S.A. (the “Company”) hereby informs that on 20 February 2015, due to the performance of impairment test of goodwill assigned to the cash generating unit, which consists of the following subsidiaries: Przedsiębiorstwo Eksploatacji Ulic i Mostów Sp. z o.o., Dalba Sp. z o.o. and Przedsiębiorstwo Drogowo-Mostowe Białystok S.A., has decided to write-off the value of that asset in Trakcja Group’s consolidated balance sheet in the amount of 37 431 thousand PLN.

The goodwill presented in Trakcja Group’s consolidated balance sheet as at 30 September 2014 amounted to 376 320 thousand PLN.

In Management Board’s opinion reasons appeared may impact the goodwill assigned to the mentioned cash generating unit therefore the Company’s Management Board decided to perform goodwill impairment test as at 31 December 2014.

The impairment will have a negative impact on the consolidated net profit for the year 2014 and the level of total assets presented in the consolidated balance sheet of Trakcja Group as at 31 December 2014.

The final level of impairment depends on concluding of the annual audit.

Legal grounds:

Article 56 paragraph 1 item 1 of the Act of 29 July 2005 for Public Offering, Conditions Governing the Introduction of Financial Instruments to Organized Trading, and Public Companies (consolidated text: Journal of Laws of 2013, item 1382)