Investor relations

Subject: Establishment of provisions as a result of the analysis of grounds for impairment of assets. 

Legal basis: Article 17 section 1 of MAR – confidential information 

Content of the report: 

The Management Board of J.W. Construction Holding S.A. with registered office in Ząbki ("Company") hereby notifies that due to the impairment tests carried out on the basis of the grounds for the impairment of assets, performed as part of the preparation of the Company's statements for 2020, it has decided today to establish revaluation write-offs in the total amount of approximately PLN 12.7 million on account of: 

1) impairment of subsidiaries of approximately PLN 0.3 million, 

2) loans granted and bills of exchange purchased for a total of PLN 12.4 million. 

The above events are of a non-cash nature and do not affect the liquidity situation of the Company and its Capital Group. 

The estimated impact of the aforementioned write-offs on the consolidated net result will amount to approximately minus PLN 2.3 million and to approximately minus PLN 10.3 million on the unconsolidated net result. 

More detailed and final figures will be presented in the published consolidated annual report and unconsolidated report for 2020.