P-2023

Condensed semi-annual separate financial statement

Condensed semi-annual separate financial statement

P-2023

Table of contents

Table of contents

2

1.

General information

4

1.1. Information about the entity

4

1.2.

Core business activity of the entity:

4

1.3.

Members of the Management Board and the Supervisory Board

4

2. Information about the basis for the preparation of the condensed semi-annual separate financial statements, the

reporting currency, and the level of rounding applied

4

2.1.

Basis for the preparation of the condensed semi-annual separate financial statements

4

2.2.

Accounting principles

5

2.3.

Applied International Financial Accounting Standards

5

2.4.

Reporting and functional currency and the rounding level applied

5

2.5.

Duration of the activity of the entity

6

2.6.

Approval of the financial statements

6

3.

Condensed semi-annual separate financial statements of Apator S.A

7

3.1.

Condensed semi-annual separate statement of financial position

7

3.2.

Condensed semi-annual separate statement of profit or loss and other comprehensive income

9

3.3.

Condensed semi-annual separate statement of changes in equity

11

3.4.

Condensed semi-annual separate statement of cash flows

13

4.

Basic judgements and basis for uncertainty estimation

14

5.

Information on the seasonality of operations

14

6.

Impact of the environment on the financial position of Apator S.A

14

7.

Explanatory notes to the condensed semi-annual separate financial statements

15

7.1.

Intangible assets, goodwill

15

7.2.

Tangible fixed assets

15

7.3.

Fixed assets classified as held for sale

16

7.4.

Right to use assets

16

7.5.

Other financial assets

18

7.6.

Inventories

18

7.7.

Trade receivables and other receivables

19

7.8.

Share capital

20

7.9.

Other capitals

21

7.10.

Credits and loans

21

7.11.

Other short-term liabilities

22

7.12.

Provisions for liabilities

23

7.13.

Income tax

23

7.14.

Revenues

24

7.15.

Financial revenues and expenses

25

Entity name:

Apator SA

Page 2

Period covered by the financial statement:

01.01.2023 - 30.06.2023

Reporting currency:

Polish zloty (PLN)

Rounding level:

all amounts are expressed in thousands of PLN (unless stated otherwise)

Condensed semi-annual separate financial statement

P-2023

7.16. Explanations regarding the cash flow statement

25

7.17.

Hedging instruments

27

7.18. Information about related entities

28

7.19. Contingent items and other items not included in the condensed semi-annual separate statement of

financial position

31

7.20.

Employment structure

32

7.21. Remuneration of the entity authorized to conduct the audit

32

8.

Adjustment of comparative data

33

9.

Events after the balance sheet date

36

10.

Signatures

37

Entity name:

Apator SA

Page 3

Period covered by the financial statement:

01.01.2023 - 30.06.2023

Reporting currency:

Polish zloty (PLN)

Rounding level:

all amounts are expressed in thousands of PLN (unless stated otherwise)

Condensed semi-annual separate financial statement

P-2023

1. General information

1.1. Information about the entity

The Company Apator Spółka Akcyjna with the office in Toruń (ul. Gdańska 4a lok C4) was created by employees of a liquidated state enterprise operating under the name of Pomorskie Zakłady Aparatury Elektrycznej Apator in Toruń. Its registration in the District Court in Toruń, 5th Commercial Division, took place on 14 January 1993 under the number RHB 1364. On 24 October 2001, an entry was made in the Register of Entrepreneurs of the District Court in Toruń, 7th Commercial Division of the National Court Register, under number 0000056456. The Company operates in the territory of Poland under the provisions of the Commercial Companies Code. Production activity is conducted in the following locations: Ostaszewo 57C 87-148 Łysomice, Toruń ul. Polna 148, Łódź ul. Wołowa 2c.

1.2. Core business activity of the entity:

In accordance with the Company's Statute, the core business activity is production and service activity in the field of electricity distribution and control apparatus and the sale of measurement apparatus and systems. The shares of Apator S.A. are listed on the main market of the Warsaw Stock Exchange, sector according to WSE classification - electromechanical industry.

1.3. Members of the Management Board and the Supervisory Board

Management Board

Maciej Wyczesany - President of the Management Board (since 1 March 2023)

Arkadiusz Chmielewski - President of the Management Board (until 28 February 2023)

Tomasz Łątka - Member of the Management Board

Supervisory Board

Janusz Niedźwiecki - Chairman of the Supervisory Board

Mariusz Lewicki - Deputy Chairman of the Supervisory Board

Janusz Marzygliński - Member of the Supervisory Board

Danuta Guzowska - Member of the Supervisory Board

Marcin Murawski - Member of the Supervisory Board

Kazimierz Piotrowski - Member of the Supervisory Board

Tadeusz Sosgórnik - Member of the Supervisory Board

2. Information about the basis for the preparation of the condensed semi-annual separate financial statements, the reporting currency, and the level of rounding applied

2.1. Basis for the preparation of the condensed semi-annual separate financial statements

The presented condensed semi-annual separate financial statement of Apator S.A. as at and for the period ending on 30 June 2023 was prepared in accordance with International Accounting Standard 34. The figures for the comparative period and for the first quarter of 2023 have been restated due to the correction of an error as set out in Note 8.

The condensed semi-annual separate financial statement of Apator S.A. covers the first half of 2023 and contains comparative data:

  • Separate financial statements - situation as of 31 December 2022;
  • Condensed semi-annual separate statement of profit or loss and other comprehensive income - for the 3-month period from 1 April to 30 June 2022, and for the 6-month period ended 30 June 2022;
  • Condensed semi-annual separate statement of cash flows - for the 6-month period ended 30 June 2022;
  • Condensed semi-annual separate statement of changes in equity - for the period from January 1 to 30 June 2022.

Entity name:

Apator SA

Page 4

Period covered by the financial statement:

01.01.2023 - 30.06.2023

Reporting currency:

Polish zloty (PLN)

Rounding level:

all amounts are expressed in thousands of PLN (unless stated otherwise)

Condensed semi-annual separate financial statement

P-2023

2.2. Accounting principles

The condensed semi-annual separate financial statements have been prepared in accordance with the historical cost principle (concept), except for the measurement of certain fixed assets (investment property) and financial instruments (derivatives), which are measured at fair value. The accounting principles adopted in the preparation of the consolidated semi-annual separate financial statements are consistent with those adopted in the preparation of the annual financial statements for the financial year ended 31 December 2022.

2.3. Applied International Financial Accounting Standards

CHANGES IN THE INTERNATIONAL FINANCIAL ACCOUNTING STANDARDS AND THEIR IMPACT ON THE CONDENSED SEMI-ANNUAL SEPARATE FINANCIAL STATEMENTS

While preparing the condensed semi-annual separate financial statements for the period from 1 January 2023 to 30 June 2023 the same principles and methods of calculation in terms of International Financial Accounting Standards were applied as in the last separate financial statements for the year ended 31 December 2022.

Standards that became effective on 1 January 2023 but do not have a material impact on the preparation of the Group's condensed semi-annual separate financial statements are:

  • IFRS 17 "Insurance Contracts" and amendments to IFRS 17,
  • Amendments to IFRS 17 "Insurance Contracts" (applies to interim requirements related to the application of IFRS 17 "Insurance Contracts" and IFRS "Financial Instruments" for the first time),
  • Amendments to IAS 1 "Presentation of Financial Statements" and the IFRS Board's guidance on accounting policy disclosures in practice,
  • Amendments to IAS 8 "Accounting Policies, Changes in Accounting Estimates and Errors",
  • Amendments to IAS 12 "Income Taxes" (clarifying how to account for deferred tax on transactions such as leases and decommissioning liabilities),
  • Amendments to IAS 12 "Income Taxes": global minimum income tax (Pillar Two).

STANDARDS PUBLISHED BY THE INTERNATIONAL ACCOUNTING STANDARDS COMMITTEE, WHICH ARE NOT YET IN FORCE AND HAVE NOT BEEN ALREADY APPLIED BY THE COMPANY

The Company has not opted to apply in this statement standards, interpretations or amendments that have been published but have not yet come into effect.

The following new Standards, amendments to Standards and Interpretations have not been adopted by the EU or are not yet in force for periods ending 30 June 2023 and have not been applied in the financial statements:

  • Amendment to IFRS 16 "Leases",
  • Amendments to IAS 1 "Presentation of financial statements",
  • Amendments to IAS 7 "Statement of cash flows" and IFRS 7 "Financial Instruments: Disclosures" - disclosure of information about supplier finance arrangements,
  • IFRS 14 "Regulatory accruals",
  • Amendments to IFRS 10 and IAS 28 concerning the sale or contribution of assets between an investor and its associates or joint venture.

The Company assesses that the introduction of the above standards will not have a material impact on the Company.

2.4. Reporting and functional currency and the rounding level applied

The reporting currency of these condensed semi-annual separate financial statements is Polish zloty (PLN), and all the amounts are expressed in PLN thousand (unless otherwise stated).

The functional currency of the Company is also the Polish zloty.

Entity name:

Apator SA

Page 5

Period covered by the financial statement:

01.01.2023 - 30.06.2023

Reporting currency:

Polish zloty (PLN)

Rounding level:

all amounts are expressed in thousands of PLN (unless stated otherwise)

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Disclaimer

Apator SA published this content on 05 October 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 09 October 2023 10:19:21 UTC.