Brief: Atari Revises FY Results Downwards, FY Net Loss Now EUR 11.9 Mln

Atari SA

18/10/2021 07:09

Oct 18 (Reuters) - ATARI SA  ATAR.PA :
    * REVISION OF THE ESTIMATED 2020/2021 ANNUAL RESULTS
    * DOWNWARD REVISION OF RESULTS COMPARED WITH ESTIMATES
COMMUNICATED ON AUGUST 16, 2021
    * ESTIMATES PRESENTED IN APPENDIX TO THIS PRESS RELEASE SHOW
A NET
LOSS OF 11.9 MEUR .
    * HAS REVIEWED CONSOLIDATED FINANCIAL ESTIMATES FOR
FINANCIAL YEAR
ENDED MARCH 31, 2021, FOLLOWING FINALIZATION OF WORK COVERING
ACCOUNTING TREATMENT OF TRANSACTIONS RELATED TO DIGITAL ASSETS
AND FV OF DEVELOPMENT COSTS FOR FREE-TO-PLAY MOBILE GAMES
CAPITALIZED ON BALANCE SHEET
    * AUDIT PROCEDURES FOR CONSOLIDATED FINANCIAL STATEMENTS
HAVE BEEN
COMPLETED
    * LOSS FOR FINANCIAL YEAR 2020/2021 IS MAINLY DUE TO
CALCULATED
EXPENSES AND DELAY IN REVENUE RECOGNITION OF ATARI TOKEN
ACTIVITIES, WHICH HAVE NO IMPACT ON GROUP'S NET CASH POSITION
    * FOR 2021/2022, A TRANSITION YEAR IMPLEMENTING CHANGE IN
STRATEGY, FINANCIAL OBJECTIVE IS TO PUT IN PLACE PROFITABILITY
LEVERS FOR YEARS TO COME, WITH PRIORITY GIVEN TO MONETIZATION OF
INTELLECTUAL PROPERTY PORTFOLIO
    * WITH FINANCIAL SUPPORT OF ITS NEW PRINCIPAL SHAREHOLDER
AND
CHAIRMAN AND CEO, ATARI GROUP BELIEVES THAT IT IS IN A POSITION
TO MEET ITS FUTURE OBLIGATIONS

Source text for Eikon:  ID:nGNEbxv5XP 
Further company coverage:  ATAR.PA 

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