On 7th September 2017, The Management Board of Orzeł Biały S.A. (‘The Company’, ’The Issuer’) hereby announces that made a decision about an intention of concluding inventory write-down in The Issuer financial statement by the resolution no. 14/2017. Write-down will have an influence on the financial result for the first semester of 2017, not only in the unconsolidated financial statement of The Issuer but also in the consolidated financial statement of Orzeł Biały Capital Group.
According to the financial statement of Orzeł Biały S.A. for the six months, which were finished on 30th June 2017, there were indications to make the inventory write-down, which will update an inventory value up to 813 K PLN. Costs of sold products, goods and materials will be risen by the write-down value.
At the same time, in mentioned above reporting period, in relation to use of inventory, which was encompassed by the write-down from 2016, The Issuer used a part of transcription, which was created in 2016 in value 2 657 K PLN. Costs of sold goods and materials will be reduced by the write-down value
After considering the tax effect mentioned write-downs will have a positive influence on unconsolidated l and consolidated financial net result for the first semester 2017 up to 1 494 K PLN.
The Company reserve that the financial statement for the first semester 2017 is during verification by the Auditor and Presented amounts are not definitive and it could be changed.
Orzeł Biały S.A. interim report for the first semester of 2017 will be published on 19th September 2017.
Legal basis: Art. 17, Act 1 MAR