Brief: Sanok Rubber Says Write-Downs Will Lower Standalone 2021 Net Result By 12.1 Mln Zlotys

Sanok Rubber SA

10/03/2022 16:37

March 10 (Reuters) - Sanok Rubber Company SA  SNK.WA :
    * COMPLETES IMPAIRMENT TESTS
    * WRITE-DOWNS WILL LOWER STANDALONE 2021 NET RESULT BY 12.1
MILLION ZLOTYS
    * IMPAIRMENT TEST SHOWED NECCESITY OF WRITE-DOWN OF 5.8
MILLION
ZLOTYS AT CONSOLIDATED LEVEL
    * WRITE-DOWNS ARE ON LOSS OF VALUE OF STAKE HELD IN AND
LOANS
GRANTED TO UNIT QMRP
    * WRITE-DOWNS ARE RESULT OF WORSENING MARKET PROSPECTS AND
OUTLOOK
FOR IMPLEMENTATION OF ASSUMED BUSINESS MODEL ON CHINESE MARKET

Source text for Eikon:  ID:nEMccsl22a 
Further company coverage:  SNK.WA 

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