Apator S A : Consolidated annual report for 2022 - Apator Group

RS-2022

Consolidated financial statements

Table of contents

1. General information
2. 1. Information about the Group of Companies
   2. 1. Information about the parent company
      2. Core activity of the parent company and the Group of Companies
      3. Composition of the Group of Companies
      4. Members of the Management Board and Supervisory Board
3. Information about the basis for preparation of the consolidated financial statements, the reporting currency and the applied rounding level
4. 1. Basis for the preparation of the annual consolidated financial statements
   2. Accounting principles
   3. Applied International Financial Accounting Standards
   4. Reporting and functional currency and the applied rounding level
   5. Duration of the group's activity
   6. Approval of the financial statements
5. Consolidated financial statements of the Apator Group of Companies
6. 1. Consolidated statement of financial position
   2. Consolidated statement of profit or loss and other comprehensive income
   3. Consolidated statement of changes in equity
   4. Consolidated statement of cash flows
7. Applied accounting principles
8. 1. Basis for the preparation (general principles)
   2. Consolidation
   3. 1. Consolidation principles
      2. Investments in associates
      3. Goodwill
   4. Detailed principles for the valuation of assets and liabilities applied in the Group of Companies
   5. 1. Intangible assets
      2. Tangible fixed assets
      3. Leases
      4. Investment properties
      5. Fixed assets and groups of net assets held for sale
      6. Inventories
      7. Borrowing costs
      8. Financial instruments
      9. Provisions
      10. Employee benefits
      11. Revenue
      12. Costs
      13. Transactions in foreign currencies
      14. Taxes
      15. Grants
      16. Zone tax credit resulting from doing business in a Special Economic Zone
      17. Equity
9. Segment reporting
10. Basic judgements and basis for uncertainty estimation
11. Information on seasonality of operations
12. Explanatory notes to the financial statements
13. 1. Alternative performance measures
    2. Operating segments
    3. Revenue
    4. Intangible assets
    5. Goodwill of subsidiaries

1. 1. Tangible fixed assets
   2. Right to use assets, lease liabilities
   3. Investment properties
   4. Investments in associates consolidated using the equity method
   5. Other financial assets
   6. Inventory
   7. Trade and other receivables
   8. Fixed assets held for sale
   9. Cash and its equivalents
   10. Prepayments and accruals
   11. Share capital
   12. Other capitals
   13. Undistributed financial result
   14. Non-controllinginterests
   15. Credits and loans
   16. Provisions for liabilities
   17. Liabilities
   18. Income tax
   19. Other costs by type
   20. Other operating revenue and costs
   21. Financial revenue and costs
   22. Explanations regarding the cash flow statement
   23. Financial instruments
   24. Derivative financial instruments, hedge accounting
   25. Objectives and principles of financial risk management
   26. Information about related entities
   27. Contingent items and other items not included in the statement of financial position
   28. Employment structure
   29. Amount of remuneration for the entity authorised to audit the financial statements
2. Impact of the environment on the financial position of the Apator Group
3. Events after the balance sheet date
4. Signatures

1. General information

1.1. Information about the Group of Companies

The Apator Group of Companies consists of the parent company Apator S.A. and its direct and indirect subsidiaries and co-subsidiaries.

1.1.1. Information about the parent company

The parent company, Apator Spółka Akcyjna, with its headquarters in Toruń (Poland), 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. Registration in the District Court in Toruń (Poland), 5th Commercial Division, took place on 14 January 1993 under number RHB 1364. On 24 October 2001, an entry was made in the Register of Entrepreneurs of the District Court in Toruń, 6th Commercial Division of the National Court Register, under number 0000056456. The parent company Apator S.A. conducts its business activities in the territory of Poland on the basis of the provisions of the Commercial Companies Code.

Registered office address of the entity - ul. Gdańska 4a lok. C4, 87-100 Toruń, Poland. Principal place of business - Ostaszewo 57C, 87-148 Łysomice, Poland.

1.1.2. Core activity of the parent company and the Group of Companies

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

The entities comprising the Group of Companies are generally focused on activities related to the production and sale of measuring instruments and devices, control and measurement instruments, distribution and control equipment, IT systems of SCADA class and their supporting telemechanics devices, security and other network devices for distributed systems ensuring the possibility of remote control and supervision of the power grid in the full voltage range, as well as data reading and transmission devices. The entities comprising the Group prepare separate financial statements.

1.1.3. Composition of the Group of Companies

In 2022, the Apator Group of Companies included Apator S.A. and the following subsidiaries: Apator Mining Sp. z o.o. (Katowice) - a subsidiary of Apator S.A.

FAP Pafal S.A. (Świdnica) - a subsidiary of Apator S.A. Apator Metrix S.A. (Tczew) - a subsidiary of Apator S.A. Apator GmbH (Berlin, Germany) - a subsidiary of Apator S.A. Apator Rector Sp. z o.o. (Zielona Góra) - a subsidiary of Apator S.A. Apator Powogaz S.A. (Poznań) - a subsidiary of Apator S.A.

Apator Elkomtech S.A. (Łódź) - a subsidiary of Apator S.A., merger with Apator S.A. on 3 January 2022 Apator Telemetria Sp. z o.o. (Słupsk) - a subsidiary of Apator Powogaz S.A. (71.89% of shares); Apator S.A. holds 20.8% of shares in Apator Telemetria Sp. z o.o.

Apator Metra s.r.o. (Šumperk, Czech Republic) - a subsidiary of Apator Powogaz S.A. Apator Miitors ApS. (Aarhus, Denmark) - a subsidiary of Apator Powogaz S.A.

George Wilson Industries Ltd. (Coventry, Great Britain) - a subsidiary of Apator Metrix S.A.

As of 31 December 2022, The Apator Group had no shares in associates. On 20 May 2022, the subsidiary Apator Powogaz S.A. sold all of its shares in ZAO Teplovodomer, with its headquarters in Russia (representing 50% of the share capital), whereas on 20 December 2022, the subsidiary George Wilson Ltd. sold its entire shares (representing 35% of the share capital) in Inda d.o.o. with its headquarters in Slovenia.

The entities comprising the Group of Companies included in full consolidation

Company

APATOR

MINING

Sp. z o.o.

APATOR METRIX S.A.

FAP PAFAL S.A.

APATOR

RECTOR

Sp. z o.o.

APATOR POWOGAZ S.A.

APATOR

GmbH

APATOR TELEMETRIA Sp. z o.o.

Headquarter

Katowice

Tczew

Świdnica

Zielona Góra

Poznań

Berlin

Słupsk

Core business

activity

Manufacture of distribution and control equipment, electricity, electric equipment, lifting devices, pumps and compressors and related service activities

Manufacture of measuring, control, navigation and other instruments and devices

Manufacture of control and measurement instruments, electric and electronic equipment, commercial activities, maintenance services

Information technology, publishing activities, printing and reproduction of recorded media

Manufacture of measuring, control, research and navigation instruments and devices, manufacture of other general- purpose machinery

Sale of prepayment systems for electricity and gas meters

Manufacture of data reading and transmission devices, manufacture of system IT applications

Competent court/

registering authority

The Regional Court in Katowice, 8th Commercial Division of the National Court Register; KRS (National Court Register) number 0000047770

The Regional Court in Gdańsk, 9th Commercial Division of the National Court Register; KRS (National Court Register) number 0000046259

The Regional Court for Wrocław - Fabryczna in Wrocław, 9th Commercial Division of the National Court Register; KRS (National Court Register) number 0000057162

The Regional Court in Zielona Góra, 8th Commercial Division of the National Court Register; KRS (National Court Register) number 0000297413

The Regional Court Poznań - Nowe Miasto and Wilda in Poznań, 8th Commercial Division of the National Court Register; KRS (National Court Register) number 0000028129

HRB 123670B

Charlottenburg

The Regional Court Gdańsk - Północ in Gdańsk, 8th Commercial Division of the National Court Register; KRS (National Court Register) number 0000290726

Share of	Method of
capital	consolidation

100.00% Full

100.00% Full

100.00% Full

100.00% Full

100.00% Full

100.00% Full

92.69% Full

Notes

Subsidiary

Subsidiary

Subsidiary

Subsidiary

Subsidiary

Subsidiary

Subsidiary

Direct and

indirect

share

APATOR METRA S.R.O.

GEORGE

WILSON INDUSTRIES Ltd

	Manufacture of
Sumperk	cost allocator
Czech	system,
Republic	thermometers and
	thermostats
Coventry	Manufacture and
sale of domestic
United
and industrial gas
Kingdom
meters; smart

Krajský soud v Ostravě, 268 34 073

Companies House, 02873275

100.00% Full

100.00% Full

Subsidiary

Indirect

share

Subsidiary

Indirect

share