Czerska 8/10 Street
Numer KRS: 59944
January 18, 2023 / 15:40
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 all of the business segments of the Group.
The above mentioned analyses show the necessity to incur impairment loss of assets in the Digital and Printed Press segment. The amount of the above mentioned impairment has an impact on both, the net results of Agora SA and the Agora Group, in the fourth quarter of 2022.
The impairment loss of assets concerns the amount of goodwill related to the Digital and Printed Press segment. Its impact on the net result of the Agora Group amounted to PLN 43.4 mio.
The individual value of the remaining impairment losses is not significant from the Company’s and the Group’s perspective.
All of the above data are preliminary, non-audited estimates and may change during the finalization of work on financial statements for the fiscal year 2022. The additional information will be provided in the financial statements for the fiscal year 2022.
At the same time, the Company informs that the aforementioned impairment loss is one-off and non-cash and does not affect the liquidity of both, the Company and of the Group, or the strategic intentions of Agora S.A.
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.