The Management Board of Orzeł Biały S.A. (The “Company”) hereby publishes the information on the likely impact one-off events on the financial result of Orzeł Biały S.A.
With regard to the financial statements of Orzeł Biały S.A.for the fiscal year ended 31 December 2015 the conducted impairment tests have indicated that the write-down of inventories at kPLN 2 799, which will increase the cost of products, merchandise and materials, have been justified.
Allowing for the tax effect, the above events will reduce the separate and consolidated financial net result by kPLN 2 267.
In addition, the position that significantly affects the net profit of the Issuer for 2015 will be that of the transaction settlement as a result of the termination of the cooperation and the dissolution of the joint venture of the Bytom Industrial Park (Bytomski Park Przemysłowy) between Orzeł Biały S.A., PUMECH Sp. o.o. and the Upper Silesian Agency for Enterprise and Development of Górnośląska Agencja Przedsiębiorczości i Rozwoju sp. z o.o., mainly including the transfer of property rights, i.e. the perpetual usufruct rights to land lots with the ownership of the building (Hall D) constituting a separate object of ownership, and other facilities situated on the said property in favour of Górnośląska Agencja Przedsiębiorczości i Rozwoju sp. z o.o. This event will increase the separate and consolidated net financial result by kPLN 10 528.
The Issuer informed about the activities undertaken in connection with the exit from the Bytom Industrial Park Project in the Consolidated Orzeł Biały Group Management Board Statement for the first half of the year dated 24.08.2015 in Section E.4. Other pieces of information which, according to the Issuer’s Group, are significant for assessing its personnel, assets, and financial performances, financial result and changes thereto and information that is relevant for assessing the Issuer’s capability to meet liabilities.
The Company makes the reservation that the Company’s financial statement for 2015 is being audited by a chartered accountant and, therefore, the amounts presented above are not final and subject to change. The publication of the annual report of Orzeł Biały S.A. for 2015 will be made on 21 March, 2016.
Legal basis:
Art. 56 Para. 1 Clause 1 of the Public Offering Act – Confidential Information.