Financial results of the Group (PLN million)

Earnings before tax
2017
2016
Change (%)
Q4 2017
Q3 2017
Q2 2017
Q1 2017
Revenue from sales
20,358
19,156
+6.3
5,871
4,774
4,802
4,911
Basic operating costs
(16,547)
(16,612)
(0.4)
(4,801)
(3,910)
(3,999)
(3,837)
Net profit on sales
3,811
2,544
+49.8
1,070
864
803
1,074
Results from engagement in joint ventures
(155)
(4,961)
(96.9)
(180)
79
(136)
82
Other operating revenue (expenses)
(2,377)
(802)
x3.0
(1,315)
(204)
(432)
(426­)
Financial revenue (expenses)
1,020
(582)
x
288
48
383
301
Earnings before tax
2,299
(3,801)
x
(137)
787
618
1,031
Income tax
(774)
(648)
+19.4
3
(182)
(274)
(321)
Net result
1,525
(4,449)
x
(134)
605
344
710
Adjusted EBITDA*
5,753
4,666
+23.3
1,476
1,414
1,282
1,581
EBITDA Margin
26%
23%
+13.0
23%
26%
25%
29%

* Adjusted EBITDA = EBIT + depreciation (included in the net result) + write-down (-reversed write-down) for impairment loss of noncurrent assets included in the costs of the main operating activity in accordance with Part 2 of the consolidated financial statements – along with Sierra Gorda S.C.M.

** Ratio between adjusted EBITDA and revenue on sales. For the purposes of calculation of the Group’s EBITDA margin, consolidated sales revenue was increased by revenue from the sale of the Sierra Gorda S.C.M. segment.

GRI Indexes:

Geographical composition of the Group’s sales


Composition of the Group’s sales by product


Change in the Group’s financial result in 2017 (PLN million)

In 2017, KGHM Polska Miedź S.A. reported a net prof t of PLN 1,323 million, which was affected, among others, by impairment losses on assets in the amount of PLN 966 million.


Change of net result of KGHM Polska Miedź S.A

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