Reference Areas:
Best Pratices in PZU

Associates31 December 201731 December 201631 December 201731 December 2016
Name of the entityEMC Instytut Medyczny SAGSU Pomoc Górniczy Klub Ubezpieczonych SA
Nature of PZU’s relationship with the entityAssociate – non-strategicAssociate – non-strategic
Registered office of the entityWroclawWroclawTychyTychy
Equity stake in the entity28.31%28.31%30.00%30.00%
Percentage of votes in the entity25.44%25.44%30.00%30.00%
Measurement method in the consolidated financial statementsEquity methodEquity method
Accounting standard used by the entityIFRSPAS
Carrying amount of the exposure to the entity2037--
Fair value of the exposure to the entity2037None – unquoted entityNone – unquoted entity
Value of dividends received from the entity----
Key financial highlights    
Assets, including:28528544
Short-term assets, including:464643
Cash and cash equivalents121143
Long-term assets239239-1
Liabilities, including:16214322
Short-term liabilities, including:867622
Current financial liabilities2728--
Long-term liabilities, including:7667--
Long-term financial liabilities5950--
Revenues on core business31227822
Depreciation and amortization1514--
Interest income----
Interest expense53--
Income tax12--
Comprehensive income, incl.:(8)(11)--
Net financial result, including:(8)(11)--
Net financial result on continuing operations(8)(11)--
Net financial result on discontinued operations----
Other comprehensive income----

There are no restrictions (e.g. resulting from any findings regarding borrowings, regulatory requirements or agreements) as to the ability of transferring funds by the associates in the form of cash dividends.

Reconciliation of measurement of EMC1 January – 31 December 20171 January – 31 December 2016
Net assets of EMC123142
Non-controlling interest in EMC’s accounts(8)(8)
Goodwill in EMC’s accounts at the moment significant influence was obtained(1)(1)
Net assets of EMC accepted for measurement by the equity method114133
PZU Group’s share in EMC’s capital3338
Impairment loss(42)(30)
Carrying amount2037

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