Decision on updating the value of inventories of steel products by the Company
The Management Board of STALPROFIL SA (Company), taking into account the correction of market steel prices in November 2022, decided to revise the value of inventories of steel products (goods and materials) in the Company's inventory as at September 30, 2022 to their current value market value (i.e. to fair value). The revaluation applies to inventories of steel products held by the Company's Head Office as at September 30, 2022, which were not sold by November 14, 2022.
The balance of additional write-downs created by the Company on November 17, 2022 related to the revaluation of inventories of metallurgical products in the amount of PLN 4,282 thousand, adjusted the Company's estimated net profit for Q3 2022 published by the Company in the current report No. 38/2022 for the amount of PLN 3,468 thousand.
Current, estimated financial results of the Company for the period of 9 months of 2022 the Company provides in the appendix to this report.