CENCORP CORPORATION: THE DISCLOSURE OF THE AUDITOR'S REPORT, ANNUAL REPORT AND THE CORPORATE GOVERNANCE STATEMENT -THE AUDITOR'S REPORT INCLUDES A SO CALLED EMPHASIS OF MATTER IN RELATION TO FINANCIAL RISK MANAGEMENT

        Print
| Source: Cencorp
multilang-release

Cencorp Corporation                 Stock Exchange Release 25 March 2014 at 17.55 Finnish time

 

THE DISCLOSURE OF THE AUDITOR’S REPORT, ANNUAL REPORT AND THE CORPORATE GOVERNANCE STATEMENT – THE AUDITOR’S REPORT INCLUDES A SO CALLED EMPHASIS OF MATTER IN RELATION TO FINANCIAL RISK MANAGEMENT

 

Cencorp Corporation's Annual Report 2012 has been published in a pdf format in Finnish and in English on the company's website at

http://www.cencorp.com/cencorp-s-investor-site/reports-and-presentations/. The Annual Report will not be printed.

 

The Annual Report includes the Report of the Board of Directors, the Financial Statements, the Auditor's Report and the Corporate Governance Statement.

 

The Corporate Governance Statement can also be found on the company's website at http://www.cencorp.com/cencorp-s-investor-site/reports-and-presentations/.

 

The Auditors Report includes a so-called Emphasis of Matter. The Auditors Report is of a standard format. In further information point, the auditor states as follows:

 

Emphasis of Matter

Without qualifying our opinion, we draw attention to the basis of preparation of the financial statements and to the note 29. Financial risk management. The financial statements have been prepared under the going concern assumption. The continuity of operations requires that during the year 2014 the company is able to obtain supplementary funding, to negotiate changes to the terms of payment and that cash flow from business operations turns positive. However, should the company fail to arrange financing, it is possible that the company will not be able to realize its assets and repay its liabilities within usual business operations to a sufficient extent or quickly enough. These factors, together with other issues mentioned in the report of the Board of Directors and the notes to the financial statements show material uncertainty, which may challenge the company’s going concern assumption.

 

In Mikkeli 25 March 2014

 

Cencorp Corporation

 

Board of Directors

 

For more information:
Iikka Savisalo
President and CEO
Cencorp Corporation
Tel.: +358 40 521 6082, Email: iikka.savisalo@cencorp.com

 

Distribution:
NASDAQ OMX Helsinki Ltd
Main media

 

Cencorp Corporation is a leading provider of industrial automation solutions. The equipment in the product portfolio include , automated applications of odd-form assembly and  depaneling for the electronic boards, testing equipment and advanced materials processing by laser. All Cencorp's offering improves the efficiency of the customers' production. Cencorp has clean technology, especially photovoltaic (PV) solutions as its other business segment. Cencorp now offers its automated manufacturing technology of the PV modules, manufactures and sells photovoltaic modules, based on Cencorp´s own technology as well as key components of photovoltaic modules. The product range also includes EMI shielding solutions, RFID antennas, other flexible circuits including for example conductive back sheets used in photovoltaic modules and mobile phone antennas. Cencorp's head office is located in Mikkeli, Finland. The company is part of the Finnish Savcor Group.