Brief: Grodno Says Adjusts H1 2024/2025 Fin. Results Due To 16.2 Mln Zloty Write-Down

Grodno SA

05/12/2024 06:37

Dec 5 (Reuters) - Grodno SA  GRNP.WA :
    * SAID ON WEDNESDAY IT HAS RESOLVED TO BOOK WRITE-DOWN OF
16.2 MLN
ZLOTYS ON HEAT PUMP INVENTORIES
    * WRITE-DOWN REDUCES INVENTORY VALUE BY 9%
    * WRITE-DOWN CAUSED BY A SIGNIFICANT DOWNWARD TREND IN THE
MARKET
PRICES OF HEAT PUMPS DROP IN HEAT PUMPS DUE TO THEIR OVERSUPPLY
IN EUROPE, AND IN PARTICULAR IN POLAND, AND IN THE ABSENCE OF
PROSPECTS FOR A CHANGE IN THE SITUATION IN THE COMING MONTHS
CAUSED BY THE sUSPENSION OF APPLICATIONS TO "CLEAR AIR" PROGRAM
BY NATIONAL FUND FOR ENVIRONMENTAL PROTECTION AND WATER
MANAGEMENT
    * FOLLOWING WRITE-DOWN ESTIMATED H1 2024/2025 NET LOSS AT
18.5 MLN
ZLOTYS 
    * ESTIMATED H1 2024/2025 SALES REVENUE AT 609.9 MLN ZLOTYS
    * ESTIMATED H1 2024/2025 EBITDA LOSS AT 12.2 MLN ZLOTYS
    * ESTIMATED H1 2024/2025 EBIT LOSS AT 17.3 MLN ZLOTYS

        
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 Further company coverage:  GRNP.WA  

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