Czerska 8/10 Street
Numer KRS: 59944
April 5, 2023 / 17:37
The Management Board of Agora S.A. with its registered office in Warsaw ("Company") hereby informs that on April 5, 2023 has decided on the change of the method of reporting financial consolidated results in periodic reports of Agora Group.
The change consists in allocation of costs of part of back office units into results of the business segments of Agora Group: Movies and Books, Digital and Printed Press, Outdoor, Internet and Radio. So far, these costs have not been allocated into business segments.
Change of the method of reporting through allocation of costs of part of back office units shall be presented in the Management’s discussions and analysis to periodic reports (including the Management’s discussions and analysis to activities of Agora Group). Allocated costs shall be presented in the section “costs of external services”.
Allocated costs shall influence, in particular, EBIT and EBITDA indicators of individual business segments that shall be presented in future reports of Agora Group, but will not influence those indicators at the Agora Group level.
Decision of the Management Board of the Company is justified by the fact of the commencement of the Company’s reorganization process and the transfer of organized parts of the enterprise of the Company, including businesses operating within the Company, to subsidiaries, in line with the consent of the Extraordinary General Meeting of the Company, which was communicated by the Company in the regulatory filing No. 18/2023 of March 27, 2023. Allocation of costs aims at the increase of transparency and comparability of data concerning individual segments and is to help standardize costs and the manner of their presentation.
Change of the method of reporting shall be implemented starting from the consolidated report for Q1 2023.