Current Report No. 65/2021

Adjustment of the interim report for Q1 2021

(Current report no. 65/2021)

06.10.2021 /Issuer/

Legal basis:
Article 56 paragraph 1 point 2 of the Act on Offering - current and periodic information


The Management Board of CCC S.A. hereby announces the adjustment of the report for the first quarter of 2021, published on 1st June 2021.

The adjustment affects the value of equity and liabilities due to the obligation to buy back non-controlling shares and financial costs presented in this report.
The adjustment results from the analysis made by the Company while preparing the interim condensed consolidated financial statements of the CCC Group for the first half of 2021. The adjustment is a consequence of reassessing the impact on the consolidated financial statements of the obligations arising from the agreement referred to in the current report No. 15/2021 dated 31 March 2021 (acquisition of eobuwie.pl S.A. shares from MKK3), and recognising the contractual obligation due to the obligation to buy out non-controlling shares in correspondence with equity. This transaction was settled in the second and third quarter of the current year, as a result of the realisation of the obligation. The sale of shares subject to the obligation affected the increase in equity by PLN 1 billion in the same periods.

This adjustment results in equity as at 30 April 2021 amounting to PLN 170.3 million, the value of current liabilities due to the obligation to buy back non-controlling shares amounts to: PLN 712.9 million, and financial expenses in Q1 amount to: PLN 33.9 million.
Since the settlement of the sale of shares in eobuwie.pl S.A. took place in the 2nd and 3rd quarters of the current year, the value of equity will increase at the end of these periods, respectively.

Additionally, the Management Board of CCC S.A. announces that the adjustment does not affect the other items of the interim condensed consolidated financial statements of the CCC Group for the first quarter of 2021. The adjustment does not affect the other items of the interim condensed consolidated financial statements of the CCC Group for the first quarter of 2021. A detailed description of the adjustment made was presented in the adjusted financial report for Q1 2021.

 

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