The Group is a contractual party of leasing agreements related to such base assets as:
- land, including perpetual usufruct right to land,
- cash deposit machines,
- IT equipment.
The leasing period of vehicles equals 1 to 5 years. Leasing agreements contain extension options. In respect of vehicles, the Group also concludes leaseback agreements.
The Group is also a party to real estate leasing agreements. The contracts are concluded for both a definite period of 1 to 30 years and indefinite period. In the case of contracts concluded for an indefinite period, the Group determines the leasing period based on the notice period. The agreements provide for variable leasing fees depending on the index (e.g. CSO, HICP).
The Group has also land lease agreements concluded for an indefinite period, and perpetual usufruct rights for land received for the period of 40 to 100 years. Lease payments are indexed in accordance with the land management act.
|Costs of leasing recognised in profit and loss account
|cost of interest from leasing liabilities
|cost of amortization of assets due to the right of use
|costs related to short-term leases (recognised as administrative costs)
|Undiscounted lease payments by maturity
|up to 1 year
|from 1 year to 5 years
|over 5 years
|Book value of liabilities due to discounted lease