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Taxonomy

Introduction

Following the obligation under Regulation (EU) 2020/852 of the Parliament and of the Council of 18 June 2020, as set out in Commission Delegated Regulation (EU) 2021/2178, an analysis of the share of eligible and non-eligible business activities in the EU Taxonomy of environmentally sustainable activities in the total turnover, capital expenditure and operating expenditure of the Unibep Group has been carried out for the purposes of this Report and adequate qualitative information has been provided insofar as it relates to the above indicators for the financial year 2021. At the same time, the presented indicators refer to the taxonomy related to climate change mitigation and adaptation.

For the purposes of this Report, alignment with the taxonomy is not disclosed.

With regard to the indicators presented, the Group does not have comparative data for 2020. The Group has not yet developed or implemented the plan referred to in paragraph 1.1.2.2 of Annex 1 of Commission Delegated Regulation EU 2021/2178 of 6 July 2021, supplementing Regulation 2020/852 by specifying the content of the presentation of the information on environmentally sustainable business activities to be disclosed by companies subject to Article 19a or 29a of Directive 2013/34/EU and the method for fulfilling this disclosure obligation (Regulation 2178).

In the case of capital expenditure, the Group assessed whether and to what extent the assets would be used to carry out activities previously classified under the EU non-financial Taxonomy. In addition, the Group has also classified into the Taxonomy investments directly related to the description of the activities included in the Taxonomy – in particular activity 6.5. Transport by motorbikes, passenger cars and light commercial vehicles.

For operating expenditure, the Group assessed in particular whether and to what extent the operating expenditure directly relates to an activity or asset previously classified in the Taxonomy or to a process related to it.

In the case of items that could simultaneously be eligible for at least two activities, the Company avoided double counting of a given item (activity/sales, capital expenditure or operating expenditure, respectively) by excluding given items verified for the first time and classified in the numerator of a given indicator from further calculations.

At the same time, the Issuer explains that in view of the non-uniform interpretation of the Taxonomy regulations, the lack of guidelines and consistent practice including, in particular, with regard to the calculation of capital expenditure and operating expenditure for 2021, the presented results of the analysis may be subject to adjustments in subsequent reporting periods.

Turnover rate

The Group’s core operating activities consist in the implementation of construction projects covering various sectors within the construction business (residential and commercial construction, road infrastructure, railway infrastructure and modular construction) as well as property development activity.

Turnover rate – percentage of taxonomy-eligible turnover

Turnover rate – percentage of taxonomy-eligible turnover
revenue (PLN mln) proportion of revenue (%)
Taxonomy-eligible activity 1,696.9 99.1%
Taxonomy-non-eligible activity 15.5 0.9%
TOTAL 1,712.4 100%

For the turnover rate:

  • the denominator of the turnover rate was consolidated revenue from contracts with customers in 2021;
  • revenue from the sale of products and provision of services related to the Unibep Group’s activities included in the EU non-financial Taxonomy, amounted to PLN 1,696.9 million.

Unibep Group companies did not issue green bonds or debt securities to finance specific identified activities in line with the taxonomy.

Type of activity value (PLN mln) share in capital expenditure included in the taxonomy(%)
5.3 Construction, extension and operation of sewage disposal and treatment systems 26.0 1.5%
6.15. Infrastructure supporting road transport and public transport 351.7 20.7%
6.14. Infrastructure for rail transport 16.2 1.0%
7.1. Construction of new buildings 1,303.0 76.8%
TOTAL 1,696.9 100%
For the purpose of calculating the turnover rate, only revenue from sales to external customers was included.

Capital expenditure ratio – percentage of taxonomy-eligible capital expenditure

Capital expenditure ratio – percentage of taxonomy-eligible capital expenditure
capital expenditure
(PLN mln)
proportion of total capital expenditure (%)
Taxonomy-eligible activity 36.6 96.6%
Taxonomy-non-eligible activity 36.6 3.4%
TOTAL 37.9 100%

For the capital expenditure ratio:

the denominator was capital expenditure at the Unibep Group in the total amount of approximately PLN 37.9 million for 2021 calculated on the basis of IAS/IFRS provisions indicated in the Annex to Regulation 2178, in particular the following provisions:

  • IAS 16 Property, Plant and Equipment, paragraph 73(e)(i) and (iii);
  • IAS 38 Intangible Assets, paragraph 118(e)(i);
  • IFRS 16 Leases, paragraph 53(h).

For the purpose of the numerator analysis, capital expenditure related to activities included in the EU non-financial Taxonomy was identified in an amount equivalent to approximately PLN 36.6 million.

Taxonomy-eligible capital expenditure at the Unibep Group include the activities indicated below.

Type of activity value (PLN mln) share in capital expenditure included in the taxonomy (%)
6.13. Infrastructure for personal mobility, cycling logistics 14.4 39.4%
6.5. Transport by motorbikes, passenger cars andlight commercial vehicles 12.1 33.0%
7.7. Acquisition and ownership of buildings 5.9 16.0%
7.1. Constructions of new buildings 3.6 9.8%
Total other 0.6 1.8%
TOTAL 36.6 100%
The Unibep Group did not adopt an investment plan for capital expenditure as referred to in paragraph 1.1.2 of Annex 1 to Regulation 2178. The Group companies did not issue green bonds or other securities to finance specific identified taxonomy-eligible capital expenditure.
During the reporting period there were no acquisitions of property, plant and equipment or intangible assets as a result of business combinations within the Group.

Operating expenditure ratio – percentage of taxonomy-eligible operating expenditure

Operating expenditure ratio – percentage of taxonomy-eligible operating expenditure
operating expenditure
(PLN mln)
proportion of total operating expenditure (%)
Taxonomy-eligible activity 8.3 78.7%
Taxonomy-non-eligible activity 2.2 21.3%
TOTAL 10.5 100%

For the operating expenditure ratio, an analysis of the components of operating expenditure as defined by the EU non-financial Taxonomy was carried out, resulting in a denominator value of PLN 10.5 million.

The value indicated above consists in particular of: i) expenditure related to maintenance of own transport, ii) expenditure related to repairs, maintenance and renovations, iii) expenditure related to operation and maintenance of offices, iv) expenditure related to maintenance of logistics facilities.