Change of results forecast for 2016

The Management Board of Grupa Kęty S.A. hereby informs that, in connection with the current level of the implementation of the 2016 budget and optimistic forecasts for the fourth quarter, they decided to increase the forecast of the consolidated operating profit (EBIT), the consolidated EBITDA and the consolidated net profit published in current report No. 4/2016 of 10 February 2016. In addition, in connection with the carrying over of a part of investment projects and payments to 2017, the Management Board hereby updates the forecast capital expenditure. The new values are presented in the table below.

The above adjustment assumes that, as at 31 December 2016, EUR/PLN rate will be at 4.30 and USD/PLN rate will be at 3.85.

(mill. PLN) forecast adjustment change
Sales 2.145.00 2.255.00 +5%
EBIT 250 293 +17%
EBITDA 360 397 +10%
Net profit 245 279 +14%
Investments 359 310 -14%