In reference to the current report no. 22/2023 regarding the change in the publication date of the periodic report for the first half of the 2023/24 financial year to December 14, 2023, and considering the significance of financial results for investors, the Management Board of Text S.A. ("Company") hereby discloses the estimated consolidated financial results of the Text Group for the first half of the current financial year (period from April 1, 2023, to September 30, 2023) for public information:
- Revenue - PLN 162.7 million
- EBITDA - PLN 99.8 million
- Operating profit - PLN 90.6 million
- Gross profit - PLN 90.5 million
The value of the "liabilities from customer contracts" item, representing deferred revenue, is estimated at PLN 68.0 million.
Following the information provided, among others, in current reports 10/2023 and 21/2023, the Company conducted and completed preliminary work on the recognition of revenue and incorporated the recommendations of the auditor in this regard. The above estimates take into account the mentioned changes related to the revenue recognition, which affected, among other things, a decrease in revenue during the period and the resolution of the so-called "server reserve."
The above results are preliminary, of an estimated nature, and may deviate from the final results, which are subject to audit.
The Management Board estimates that if the above changes regarding the revenue recognition had not been introduced for the respective revenues of the first half of 2023/2024, the Group would have achieved the following results for the first half of the financial year:
- Revenue - PLN 166.6 million
- EBITDA - PLN 104.3 million
- Operating profit - PLN 95.1 million
- Gross profit - PLN 95.0 million
A detailed description of the changes made by the Company resulting from changes in the revenue recognition and the method of transforming comparable data will be presented in the financial report for the first half of the current financial year on December 14, 2023.
The Management Board confirms its intention to maintain the practice of previous years and to submit for approval by the Supervisory Board a proposal for an advance payment on account of the expected dividend after the publication of financial reports for the first half of the financial year.
The Management Board has decided to publish this current report in connection with the postponement of the publication of the periodic report for the first half of the financial year to December 14, 2023, taking into account the importance of financial results for investors and the provisions of the document "Best Practice for GPW Listed Companies 2021."