Current Report No.: 10/2023
The Management Board of Boryszew S.A. (Issuer, Company) advises that in the course of work on preparing the consolidated financial statements for 2022, on 24 March 2023 it decided to make a write-off on tangible assets, intangible assets and deferred tax assets of its indirect subsidiary Boryszew Plastic Rus, based in Nizhny Novgorod (Russia), in the amount of PLN 52.7 million.
The above event is of an accounting nature and recognition of the write-off will not affect Company’s liquidity. The value of the write-off will be charged to the consolidated financial results presented in the Issuer’s 2022 financial statements.
The creation of the aforementioned write-off is a consequence of the suspension of production by that subsidiary caused by the decisions of automotive concerns to suspend production in Russia. This situation makes it impossible to prepare business forecasts for the aforementioned subsidiary. The Company announced the suspension of production at the Russian-located plant in current report No. 5/2022 of 3 March 2022 and in recent interim reports.
The Management Board of the Company also explains that on the day of the preparation of the this current report the annual financial statements of Boryszew Capital Group for 2022 are being audited by the auditor.
Legal attitude: Article 17 section 1 MAR – Confidential information.
Signatures:
Wojciech Kowalczyk – President of the Management Board
Translation from the original Polish version.
In the event of differences resulting from the translation, reference should be made to the official Polish version.