Update of the forecast of the consolidated net profit for 2017
With reference to the current report no. 7/2017 of 28th February 2017, the Management Board of Apator SA, keeping in mind the reliability of its communication with financial market, hereby transfers the complementary information on the forecast of the financial results as well as the information having an impact on an update of the forecast of the consolidated net profit for 2017, the previous information being PLN 75-80 mln and is now corrected and amounts to PLN 60-65 mln.
The update stems from the occurrence of one-off events resulting in non-cash corrections, being mainly related to the changes of qualifications and the write-off of research-and-development works in Apator Elkomtech and Apator Telemetria as well as the update of the value of reserves.
The original forecast of the net profit being at the level of PLN 75-80 mln was prepared while assuming the lack of such one-off events (which was indicated in the current report no. 7/2017), however, in order to assure the market participants full and transparent information, the Management Board made a decision to publish the updated forecast. At the same time, the Management Board is eager to underline that the forecast net profit, being free of the influence of one-off events, is still within the spectrum of the original forecast.
The above updated forecast does not take into consideration the result of impairment testing (particularly in connection with Apator Rector) both on the level of an individual financial statement of Apator SA and on the level of a consolidated financial statement. Impairment testing will get conducted to satisfy the requirement of a financial statement for 2017 till I quarter of 2018.
At the same time, the Management Board still maintains as valid the forecast of the consolidated revenues from sales for 2017 being at the level of PLN 900-950 mln.
Art. 17 act. 1 MAR.
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