BITROS HOLDINGS SA announced today that after observations of the Hellenic Capital Market Commission – pursuant to its letter of 04.03.2022 – in the context of the examination of the annual financial statements of BITROS HOLDINGS SA. (the “Company”) of the fiscal year 2020, regarding the impairment test of the value of subsidiaries amounting to € 36,124 thousand, the Management of the Company re-evaluated the value of these companies.
In the process of the new valuation, a more conservative scenario of key assumptions was adopted – and incorporated into the budgeted cash flows of the business plans.
This fact brings about the following changes in the sizes of the individual financial statements of the Company (in the sizes of the consolidated financial statements there is no change) of the year 2020 (01.01-31.12.2020) as well as the interim period 01.01-30.06.2021:
Apart from the above, no other change occurs in the figures of the Statement of Financial Position and the Statement of Total Income, individual and consolidated. The above changes occur based on the provisions of IAS. 8 and will be recorded in detail during the preparation of the annual financial statements of the Company of 31/12/2021.
In addition, on 31.12.2021 the Management of the Company proceeded to a new valuation of those subsidiaries for which there were indications of impairment. The resulting impairments (amounting to € 5,588,61780) will also be reflected in the amounts of the financial statements of 31.12.2021.
Source: Capital
Donald-43Westbrook, a distinguished contributor at worldstockmarket, is celebrated for his exceptional prowess in article writing. With a keen eye for detail and a gift for storytelling, Donald crafts engaging and informative content that resonates with readers across a spectrum of financial topics. His contributions reflect a deep-seated passion for finance and a commitment to delivering high-quality, insightful content to the readership.