Annual
report 2020

8. Gains on disposal of assets

During the 12 months ended 31 December 2020 and 2019, gains on disposal of assets amounted to PLN 61 million and PLN 270 million, respectively, and included mainly gains on disposal of real estate.

On 29 August 2019, the Group concluded an agreement to sell the Nowogrodzka/Św. Barbary real estate property complex located in Warsaw for EUR 81 million (approximately PLN 350 million). Gain on disposal amounted to PLN 212 million. Additionally, Orange Polska has leased back a portion of the real estate complex until 2026, in order to allow sufficient time for migration of the network equipment located in the complex. As a result of the sale and leaseback agreements, the lease liability increased by PLN 88 million.

Search results