Forecast of financial results

The updated forecast of consolidated financial results of Apator Group for 2017.

The Management Board of Apator SA announces the updated forecast of consolidated financial results for 2017 that was as follows:

-        consolidated revenues on sales in total: PLN 900 m - PLN 950 m,

-        consolidated net profit: PLN 60 m - PLN 65 m.

The original forecast established consolidated net profit at the level PLN 75 m – PLN 80 m and was based on the following assumptions:

- organic increase of revenues,

- improvement of economic trend in power industry,

- no influence on possible acquisitions and disinvestments,

- no negative influence of Apator Rector on level of consolidated net profit,

- no one-off adjustments of non-operation nature,

- average exchange rates: 4,25 PLN/EUR; 4,00 PLN/USD; 5,20 PLN/GBP.

The change of forecasted net profit is caused by one-off events resulting in non-cash adjustments mainly concerned change of R&D work’s qualifications in Apator Elkomtech and Apator Telemetria and revaluation of inventories. The updated forecast does not include the results of asset impairment test both at the level of the Apator SA separate financial statements and the consolidated financial statements.

 Further to the above the current forecast for 2017 is as follows:

Apator SA  has been announcing the forecasts  of  consolidated financial statements since 1997. The table below includes the set of the forecasts announced in the recent six years.