20 January 2021, 20:30

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ROSIER S.A.

Press release - Profit Warning1

The lack of profitability during the past years and the significant deviation in 2020 of the financial performance of Rosier Group against the budget qualifies as a triggering event for an impairment test. The main reasons are the market conditions being more and more competitive with the pressure of the vertically integrated competitors and the unfavourable cost position of the Rosier Group.

The impairment test resulted in a recoverable amount based on the value in use, which is MEUR

17.52 lower than the carrying amount of the Rosier Group. Therefore, the property, plant and equipment of MEUR 39.95 will be impaired by MEUR 17.52 in 2020.

Furthermore, due to non-satisfactory results during the last years, the deferred tax assets on tax losses carried forward of Rosier Nederland BV will be fully impaired for MEUR 3.1.

Rosier Group estimated results can be summarised as follow:

  • The operating result before amortization and depreciation (EBITDA) is estimated at MEUR 0.7.
  • After deduction of operating costs, including amortization and depreciation, the operating result (EBIT) ends in loss of MEUR 21.3 compared to a loss of MEUR 5.4 in 2019.
  • The deficit financial result over the period of MEUR 1.2 is mainly composed of borrowing costs.
  • Following a careful analysis of the possibilities of future recovery of the losses carried forward, a tax charge of MEUR 3.1 had to be recognized.
  • After financial charges and taxes, the result for the period shows a deficit of MEUR 25.6, against a loss of MEUR 7.9 for the year 2019.

Those results and impairments are still provisional and under the review of our external auditors PricewaterhouseCoopers.

Willy Raymaekers

CEO of Rosier Group

1 Also available on the website www.rosier.euunder the heading "Financial information"

Rosier S.A. Route de Grandmetz 11a, 7911 Moustier, Belgium I +32 (0) 69 87 15 10 | info@rosier.eu| www.rosier.eu

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Rosier SA published this content on 20 January 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 20 January 2021 20:27:00 UTC