The tables below present revenue, costs and profits/losses, as well as assets, equity and liabilities of the Group’s reporting segments for the years ended December 31st 2014 and December 31st 2013.
Year ended December 31st 2014 | Exploration and Production | Trade and Storage | Distribution | Generation | Other Segments | Eliminations | Total |
---|---|---|---|---|---|---|---|
Statement of profit or loss | |||||||
Sales to third-party customers | 4,346 | 28,367 | 280 | 1,149 | 162 | - | 34,304 |
Inter-segment sales | 1,725 | 458 | 4,003 | 794 | 163 | (7,143) | - |
Segment's total revenue | 6,071 | 28,825 | 4,283 | 1,943 | 325 | (7,143) | 34,304 |
Depreciation and amortisation expense | (1,137) | (181) | (864) | (301) | (20) | 1 | (2,502) |
Other costs | (2,928) | (28,061) | (2,281) | (1,480) | (373) | 7,164 | (27,959) |
Segment's total costs | (4,065) | (28,242) | (3,145) | (1,781) | (393) | 7,165 | (30,461) |
Operating profit/(loss) | 2,006 | 583 | 1,138 | 162 | (68) | 22 | 3,843 |
Net finance costs | (346) | ||||||
Share in net profit/(loss) of equity-accounted entities | 129 | 129 | |||||
Profit/(loss) before tax | 3,626 | ||||||
Income tax | (804) | ||||||
Net profit/(loss) | 2,822 | ||||||
STATEMENT OF FINANCIAL POSITION | |||||||
Segment's assets | 15,442 | 18,299 | 14,142 | 4,184 | 387 | (6,780) | 45,674 |
Investments in equity-accounted entities | 856 | 856 | |||||
Unallocated assets | 613 | ||||||
Deferred tax assets | 1,783 | ||||||
Total assets | 48,926 | ||||||
Total equity | 30,169 | ||||||
Segment's liabilities | 5,531 | 4,873 | 2,638 | 2,049 | 219 | (6,427) | 8,883 |
Unallocated liabilities | 6,624 | ||||||
Deferred tax liabilities | 3,250 | ||||||
Total equity and liabilities | 48,926 | ||||||
Other information | |||||||
Capital expenditure on property, plant and equipment and intangible assets | (2,063) | (269) | (1,091) | (285) | (10) | (63) | (3,781) |
Impairment losses on assets | (2,381) | (1,590) | (112) | (26) | (22) | - | (4,131) |
Impairment losses on unallocated assets | (46) |
Year ended December 31st 2013 | Exploration and Production | Trade and Storage | Distribution | Generation | Other Segments | Eliminations | Total |
---|---|---|---|---|---|---|---|
Statement of profit or loss | |||||||
Sales to third-party customers | 4,580 | 25,341 | 165 | 1,658 | 300 | - | 32,044 |
Inter-segment sales | 1,605 | 318 | 4,085 | 405 | 124 | (6,537) | - |
Segment's total revenue | 6,185 | 25,659 | 4,250 | 2,063 | 424 | (6,537) | 32,044 |
Depreciation and amortisation expense | (1,050) | (177) | (857) | (359) | (20) | - | (2,463) |
Other costs | (2,804) | (25,490) | (2,654) | (1,560) | (469) | 6,545 | (26,432) |
Segment's total costs | (3,854) | (25,667) | (3,511) | (1,919) | (489) | 6,545 | (28,895) |
Operating profit/(loss) | 2,331 | (8) | 739 | 144 | (65) | 8 | 3,149 |
Net finance costs | (396) | ||||||
Share in net profit/(loss) of equity-accounted entities | (44) | (44) | |||||
Profit/(loss) before tax | 2,709 | ||||||
Income tax | (789) | ||||||
Net profit/(loss) | 1,920 | ||||||
STATEMENT OF FINANCIAL POSITION | |||||||
Segment's assets | 15,364 | 17,344 | 14,067 | 4,124 | 411 | (6,244) | 45,066 |
Investments in equity-accounted entities | 727 | 727 | |||||
Unallocated assets | 358 | ||||||
Deferred tax assets | 2,233 | ||||||
Total assets | 48,384 | ||||||
Total equity | 28,453 | ||||||
Segment's liabilities | 4,954 | 4,634 | 2,879 | 1,943 | 187 | (5,847) | 8,750 |
Unallocated liabilities | 7,971 | ||||||
Deferred tax liabilities | 3,210 | ||||||
Total equity and liabilities | 48,384 | ||||||
Other information | |||||||
Capital expenditure on property, plant and equipment and intangible assets | (1,630) | (341) | (1,110) | (203) | (13) | 7 | (3,290) |
Impairment losses on assets | (1,642) | (1,479) | (115) | (34) | (20) | - | (3,290) |
Impairment losses on unallocated assets | (45) |
The Group’s conducts its business activity primarily on the domestic market (Poland). In 2014, revenue from export sales to external customers accounted for 14.89% (2013: 14.59%) of total revenue from sales to external customers.
Year ended Dec 31 2014 | Year ended Dec 31 2013 | |
---|---|---|
Domestic sales: | 29,195 | 27,368 |
High-methane gas | 23,944 | 21,728 |
Nitrogen-rich gas | 1,367 | 1,409 |
Crude oil and natural gasoline | 789 | 1,007 |
Helium | 12 | 29 |
Electricity | 910 | 995 |
Heat | 1,079 | 1,069 |
Geophysical and geological services | 83 | 103 |
Drilling and well services | 168 | 192 |
Construction and installation services | 131 | 229 |
Connection charge | 112 | 110 |
Other sales | 600 | 497 |
Export sales: | 5,109 | 4,676 |
High-methane gas | 1,782 | 1,812 |
Nitrogen-rich gas | 35 | 21 |
Crude oil and natural gasoline | 1,758 | 1,639 |
Helium | 108 | 154 |
NGL | 107 | 111 |
Electricity | 785 | 365 |
Geophysical and geological services | 198 | 136 |
Drilling and well services | 312 | 402 |
Construction and installation services | 4 | 14 |
Other sales | 20 | 22 |
Total | 34,304 | 32,044 |
On foreign markets the Group sells mainly to customers in Germany (56% of export sales), Norway and Switzerland.
Most of the Group’s non-current assets (other than financial instruments) are also located in Poland. The value of non-current assets located outside of Poland as at December 31st 2014 represented 13.13% of the Group's total assets (December 31st 2013: 13.02%).
As at Dec 31 2014 | As at Dec 31 2013 | |
---|---|---|
Value of non-current assets other than financial instruments located in Poland | 30,100 | 29,751 |
Value of non-current assets other than financial instruments located abroad* | 4,550 | 4,455 |
Total | 34,650 | 34,206 |
% share of assets located outside of Poland in total assets | 13.13% | 13.02% |
* Including PGNiG Upstream International AS | 4,041 | 3,587 |
The Group does not have any single external customer which would account for 10% or more of total revenue earned by the Group.