Brief: PCF Group To Fully Write-Down 'Project Bifrost' Costs

PCF SA

25/04/2025 17:42

April 25 (Reuters) - PCF Group SA PCF1.WA:

ANNOUNCES ASSET WRITE-DOWNS OF 100% OF VALUE OF EXPENDITURES INCURRED FOR PROJECT BIFROST

WRITE DOWN TO LOWER FY CONSOLIDATED FINANCIAL RESULT AND VALUE OF FIXED ASSETS IN GROUP'S CONSOLIDATED BALANCE SHEET AS OF DEC 31 BY 155.0 MILLION ZLOTYS

WRITE-DOWN ON BIFROST PROJECT DUE TO LACK OF CREDIBILITY OF ABILITY TO ENSURE FINANCING FOR FURTHER PRODUCTION AND RELEASE OF PROJECT

RESERVES RIGHT TO REVERSE WRITE-DOWN, IN WHOLE OR IN PART, IN EVENT OF FAVOURABLE CHANGE IN CIRCUMSTANCES THAT WERE THE BASIS FOR MAKING THE WRITE-DOWN

TO WRITE-DOWN 100% OF INCUVO GOODWILL WHICH WILL LOWER CONSOLIDATED FINANCIAL RESULT AND FIXED ASSETS VALUE IN GROUP'S CONSOLIDATED BALANCE SHEET BY 18.1 MILLION ZLOTYS

DEVELOPMENT WORK ON BIFROST PROJECT CONTINUES

Source text: ID:nEM92qS2La

Further company coverage: PCF1.WA

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