Joanna Strzelec – Łobodzińska
The vice president of the Board for trade and economy

SPEC – according to the long-term strategy until 2020 – has started an expensive investment program. It is the condition of survival and development of our company. The construction of 2260MW of new powers, which costs over 10 billion zloty will require huge financial discipline. Only the assurance of financing the construction of a block in Łagisza lasted for over three years. As it is the very first such big investment realized without a long-term contract support, we had to create mechanisms and provisions accepted by the financial institutions. And thanks to our determination, we did it ! However, it is not the end of our efforts. A many years’ period of particular financial discipline is waiting for us. We have to keep at the suitable level, according to, the accepted by the financial institutions, forecasts, all the essential economy indicators – including debts indicators, debt service covering and the relation of own capital to the assets. It will also be essential to obey the investment calendar.

In case of the intention of the company connection, division or transformation, as well as selling or buying the assets and dividend payment, every time the financial forecasts which take into account, for example the financial indicators of our company or the subjects, which would appear due to the transformations, have to be brought up to date. These are very labor-consuming tasks, but I believe that we can make it.