The board of Inission AB has decided that the group will change accounting principles from K3 to International Financial Reporting Standards (IFRS).
– Inission is in a phase of growth and switching to IFRS paves the way for a long-term fair and quality-assured structure that matches our size, maturity, growth and the market’s expectations. The transition to IFRS aims to increase comparability with other listed companies and create increased transparency and understanding for international investors regarding the financial reports, says Olle Hulteberg, chairman of the board of Inission AB.
Inission’s year-end report for 2022, with a publication date of March 1, will be the first report presented according to IFRS and interpretations from the IFRS Interpretations Committee (IFRIC), as approved by the EU. The transition date has been set at 1 January 2021. Comparative figures are recalculated as of 1 January 2021.
The main effects of the transition to IFRS primarily affect the accounting of group companies, including the management of goodwill and the introduction of accounting for rights of use. The transition also enables a possible future change in listing.
A detailed description of the transition to IFRS and its effects will be presented in Inission’s year-end report for 2022 published on March 1 and annual report published on April 5.
In the future Inission will also publish all reports in both Swedish and English.
For more information:
Olle Hulteberg, chairman of the board Inission AB
+46 707 20 24 44
This information is information that Inission AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 08:30 CET on 16 February 2023.
Inission is a total supplier of tailored manufacturing services and products in the field of advanced industrial electronics and mechanics. Our services cover the entire product lifecycle, from development and design to industrialization, volume production and aftermarket services.
Inission has operations in Sweden, Norway, Finland, Estonia, Italy, USA and Tunisia. The total turnover in the last 12 months amounts to SEK 1.7 billion with approximately 900 employees. Inission is listed on Nasdaq First North Growth Market with Nordic Certified Adviser AB as certified adviser. Reports are archived at www.inission.com/investor-relations.
Inission AB, Lantvärnsgatan 4, 652 21 Karlstad