Update on the Recticel Group’s financial reporting 2022
In anticipation of the publication of its first half-year 2022 results scheduled for 26 August 2022, Recticel hereby indicates that for the fiscal year 2022 its Engineered Foams segment will be accounted for under IFRS 5 – Non-current Assets Held for Sale and Discontinued Operations.
In accordance with accounting standard IFRS 5, the Engineered Foams segment which is currently in the process of being transferred to US-based Carpenter Group (cfr press releases of 07 December 2021, 05 and 18 July 2022), will be reclassified as assets and liabilities held for sale. This means that the operating result of the Engineered Foams segment will be presented in the consolidated financials as Result from Discontinued Operations. For comparison reasons, the formerly published 1H2021 financials will be restated accordingly.
The first half-year 2022 results as per IFRS 5, together with the restated first half-year 2021 results, will be communicated as foreseen on 26 August, 2022.