Current Report No.: 12/2020
Legal basis: Article 17 section 1 MAR – Inside information.
Contents of the report:
The Management Board of Boryszew S.A. (“Company”) informs that on May 26, 2020, it decided to recognize an impairment loss in the Company’s financial statements for shares in the Boryszew Automotive Plastics Group companies (BAP Group) and loans granted to BAP Group companies in the total amount of PLN 181.8 million.
The aforementioned impairment loss applies to mutual transactions within the Boryszew Capital Group, therefore it will not affect the consolidated financial statements for 2019.
The impairment loss recognized is of an accounting nature and will not affect financial liquidity, consolidated result (including EBITDA) and equity of the Boryszew Capital Group and the current operating activity of the Company and the Boryszew Capital Group.
The Management Board of the Company also explains that as at the date of this current report, the annual financial statements of the Boryszew Capital Group remain in the course of performing auditing activities on the part of the auditor, and thus it cannot be ruled out that the amount of the impairment loss may be changed. The final amount of the write-down together with the financial results of the Company and its Capital Group for 2019 will be provided as part of annual reports, the publication of which is scheduled for May 28, 2020.
Signatures:
Piotr Lisiecki – 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.