The Executive Board of DataWalk S.A. based in Wrocław (“Company”, “Issuer”) publishes information on the estimated selected financial data of the Company and the DataWalk Capital Group (“Group”) for 2021, together with comparable data:
– standalone, estimated 2021 sales revenues amounted to 23.076K.PLN, compared to 12.359K.PLN in 2020, which is an increase of 87%,
– standalone, estimated 2021 operating cost amounted to 19.658K.PLN, compared to 12.050K.PLN in 2020, which is an increase of 63%,
– standalone, estimated 2021 net financial loss amounted to 10.897K.PLN, compared to 4.421K.PLN loss in 2020, which is an increase of 146%,
– consolidated, estimated 2021 sales revenues amounted to 30.780K.PLN, compared to 15.722K.PLN in 2020, which is an increase of 96%,
– consolidated, estimated 2021 operating cost amounted to 37.375K.PLN, compared to 22.259K.PLN in 2020, which is an increase of 68%,
– consolidated, estimated 2021 net financial loss amounted to 1.648K.PLN, compared to 6.323K.PLN loss in 2020, which is a loss decrease by 74%,
The most important impact on the standalone net financial result of the Company in 2021 had:
i) an increase in sales revenues higher by 37% than the increase in costs related to the Company’s operating activities,
ii) the Company recognizing an impairment loss on the financial assets held by the Issuer in its subsidiary DataWalk Inc., and
iii) recognition of the deferred tax asset.
In the course of preparing the financial statements for 2021, the Executive Board of the Company conducted an assessment of the existence of assets impairment indicators, in particular value of shares in subsidiary DataWalk Inc.
Taking into account the unstable situation on the financial markets, caused by the current political and economic situation in Ukraine, and thus the significant uncertainty as to the level of interest rates, exchange rates, and the availability of capital, the Management Board of the Company, guided by the prudent concept principle, decided to recognize an impairment loss on the financial assets held by the Issuer in the subsidiary in the total amount PLN2.569K. Thus, the total value of impairment write-offs made in 2021 amounted to PLN 18,702K As of the balance sheet date, December 31, 2021, the Company made impairment write-offs on the total value of DataWalk Inc shares
The above operation is non-cash and does not affect the Issuer and the Group’s current financial situation. At the same time, the Company informs that the value of the impairment adjustments is estimated and may change in the future.
Recognition of the impairment loss by the Issuer negatively impacts the Company’s standalone financial result as well as total asset value as of December 31, 20221. The impairment loss will be eliminated from the Group’s consolidated financial statements through the process of the consolidation of the statements, and therefore will not affect Group’s financial position
The most important influence on the consolidated financial result of the Group in 2021 had:
i) an increase in sales revenues higher by 40% than the increase in costs related to the operating activities of the Company,
ii) recognition of the deferred tax asset.
The presented financial results are estimates obtained in the course of preparing the financial statements. The Issuer indicates that the financial statements are the subject of an audit by an independent statutory auditor, and consequently, might change as a result of an audit. The periodic report with regards to the final 2021 Financial Statement will be published on April 27, 2022.
In the event of significant changes to the above-mentioned data, the Issuer will submit a separate current report, by applicable regulations.
The above information has been found to meet the requirements of Art. 7 sec. 1 MAR due to significant, in the opinion of the Management Board of the Company, changes compared to the comparable period recorded in the individual net financial result achieved by the Issuer and the consolidated net financial result generated by the Group in 2021, which was particularly influenced by the above-described changes in sales revenues and operating costs of both the Company and the Group.
