Write-down of carrying amount of assets
The Management Board of Apator SA announces that following the completion of the analysis of the main premises proving the possibility of the impairment of the carrying value of fixed assets of the Apator Group, on 19 December 2023, a decision was made to:
- make a write-down of intangible assets (trademark, relations with clients),
- reduce the capitalised tax loss.
The effects of the above decision will be disclosed in the consolidated balance sheet of the Apator Group in the Gas Segment, in accordance with the provisions of IAS 36 "Impairment of assets".
The write-downs are related to the indirect subsidiary George Wilson Industries Ltd ("GWi") based in the UK. They stem from a revision of strategic plans and an update of the financial projections made for GWi, which continues to be adversely affected by the macro-economic environment, with implications for lower margins and current and planned product sales volumes.
The Management Board of Apator SA estimates the influence on consolidated result of the Apator Group at the level of ca. PLN 12 million. This amount will be included in the Apator Group's consolidated report for Q4 2023.
The amounts quoted represent preliminary estimates and are subject to change at the stage of preparation of the annual financial statements or their audit by the auditor.
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