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WYNIKI FINANSOWE GRUPY AGORA W 3. KWARTALE 2023 R.

AGORA, HOME PAGE, NAJNOWSZA AKTUALNOść (TOOLBAR)

WYNIKI FINANSOWE GRUPY AGORA W 3. KWARTALE 2023 R.

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    Company data

    AGORA S.A.
    Czerska 8/10 Street
    00-732 Warszawa

    AGO 0,36%
    mWIG40 0,5%
    WIG-MEDIA 0,13%

    Regon: 11559486
    Numer KRS: 59944
    NIP: 526-030-56-44

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    January 17, 2020 / 16:22

    1/2020 Impairment of assets

    Regulatory filing

    The Management Board of Agora S.A. with its registered seat in Warsaw (“Company”, “Agora”) hereby informs that the Agora Group ("the Group") is in the process of verifying the valuation of its assets in accordance with the International Financial Reporting Standards, inter alia on the basis of an analysis of long-term financial forecasts for the individual business segments of the Group, the possible recoverable residual value of assets and the review of other assumptions made in the asset valuation models.

    The above mentioned analyses show the necessity for revision of the value of assets in GoldenLine company and the value of Agora’s stake in that company due to, inter alia, failure to achieve financial and operating targets by the company in 2019. The Management Board of Agora S.A. decided to write off the value of assets in the company to their estimated recoverable value.

    The company estimates that the impact of  impairment of assets in GoldenLine company on Agora’s net result shall amount to ca PLN 11.2 million. The impact on the consolidated net financial result of the Agora Group shall amount to ca PLN 6.5 million and on the Group’s operating result on the EBIT level to ca PLN 7.4 million in the fourth quarter of 2019.

    The above data are preliminary, non-audited estimates and may change during the finalization of work on financial statements for the fiscal year 2019. The final and complete information on the impairment of assets will be provided in the financial statements for the fiscal year 2019.

    At the same time, the Company informs that the aforementioned impairment losses are one-off and non-cash and do not affect the liquidity of both the Company and the Group or its strategic intentions. 

    Legal basis: Article 17, paragraph 1 of Regulation (EU) No. 596/2014 of the European Parliament and of the Council of 16 April 2014 on market abuse (Market Abuse Regulation) and repealing Directive 2003/6/EC of the European Parliament and of the Council and Commission directive 2003/124/EC, 2003/125/EC and 2004/72/EC.

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