Brief: PZ Cormay Decides To Book Impairment Losses Of 45.5 Mln Zlotys Total

PZ Cormay SA

06/04/2020 07:35

April 6 (Reuters) - PZ Cormay  CRM.WA :
    * SAID ON SATURDAY IT HAS DECIDED TO BOOK IMPAIRMENT LOSSES
OF
45.5 MILLION ZLOTYS IN TOTAL
    * THE COMPANY HAS ALSO BOOKED SUBSIDY REVENUE OF 8.5 MLN
ZLOTYS
TOTAL, PREVIOUSLY PRESENTED AS DEFERRED INCOME
    * SAID VALUES WILL HAVE DIRECT IMPACT ON STANDALONE AND
CONSOLIDATED FY 2019 FINANCIAL STATEMENT
    * SAID IMPACT WILL LOWER FINANCIAL RESULT BEFORE TAX BY 37.0
MILLION ZLOTYS AND LOWER ASSETS AND LIABILITIES BALANCE BEFORE
DEFERRED INCOME TAX IMPACT BY 45.5 MILLION ZLOTYS
    * THE IMPAIRMENT LOSSES RESULT FROM PROLONGED WORKS ON
DEVELOPMENT
FOR PRODUCTION OF EQUISSE, HERMES SENIOR, HERMES JUNIOR AND
BLUEBOX ANALYSERS AND RISK OF NOT ACHIEVING REVENUE TO COVER
COSTS IN THE FUTURE
    * THE NEW CORONAVIRUS PANDEMIC SITUATION IS CAUSING AND MAY
CAUSE
FUTURE PROLONGATION AND OBSTRUCTION OF SAID WORKS, ADDITIONALLY
INCREASING SAID RISK

    
    
 Source text for Eikon:  urn:newsml:reuters.com:*:nEMb0NHLDa
    
 Further company coverage:  CRM.WA  
   


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