Forecast adjustment of consolidated financial results
Executive Board of Apator SA makes the forecast adjustment of consolidated net profit of Grupa Apator for 2012. The adjustment is only the result of the asset calculated for deferred tax in amount of 20 m PLN. The asset was due to possibility to make use of tax relief related to the commencement on the 1st June 2012 by Apator SA its activity in Pomeranian Special Economic Zone.The value of asset for deferred tax in amount of 20 m PLN was entered in the books of Apator SA at the 30th June 2012. Further to the above the value of forecast of consolidated net profit for 2012 is adjusted from the range of 70 m PLN – 75 m PLN to the range 90 m PLN – 95 m PLN.Other assumptions accepted in the forecast of consolidated financial results announced on the 23rd February 2012 in current report no. 12/2012 remain unchanged. The forecast of consolidated financial results of Grupa Apator for 2012 is as follows:
- consolidated revenues on sales in total in amount of 580 m PLN,
- consolidated net profit in the range of 90 m PLN – 95 m PLN.
Assumptions of the forecast adjusted:
- transfer of Apator SA to Pomeranian Special Economic Zone,
- assets calculated for deferred tax in amount of 20 m PLN due to possibility to make use of tax relief,
- other operating revenues due to the sale of property in Toruń: 17 m PLN,
- high share of export in revenues on sales in total,
- accepted Eur exchange rate at the average level of 4,30 PLN,
- level of hedging transactions and the application of hedging policy for currency exposure of Grupa Apator,
- Grupa Apator includes the following entities: Apator SA, FAP Pafal SA, Apator Metrix SA, Apator Mining sp. z o. o., Apator Control sp. z o. o., Apator Elektro SA, Apator GmbH, Grupa Apator Powogaz (Apator Powogaz SA, Apator Telemetria sp. z o. o., Apator Metroteks sp z o. o., Apator Metra s.r.o., Teplovodomer SA) and Apator Rector sp. z o.o. together with Newind sp. z o. o. Forecast adjusted of consolidated financial results for 2012 covers entire net profit from activity of Grupa Apator for both shareholders of parent entity and shareholders of non controlling interest.
At the same time Executive Board of Apator SA announces that Grupa Apator earns very good revenues on sales and therefore after the end of the third quarter of 2012 Executive Board of Apator SA will make an assessment of influence of the revenues on forecast of financial results.
Legal base of the report: § 31 para 2–4 of the Regulation of Minister of Finance regarding current and regular information being transferred by the issuers of securities and conditions to be considered as equivalent information required by law of the country not being the member of the EU.
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