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Enedo's Financial Statements for the financial year 2020 has been published

Enedo Oyj
·3-min read

ENEDO PLC Stock Exchange Release 10.3.2021 at 12:15

Enedo's Financial Statements for the financial year 2020 has been published

The Board of Directors of Enedo Plc (the “Company”) has today March 10th 2021 approved and publishes the Company's financial statements for the financial year 2020. The financial statements 2020 in Finnish is attached to this release in pdf format. The financial statements in Finnish, the auditor's report and the English translation of the auditor's report and the English translation of the financial statements, which has not been audited, are also available on the company's website at www.enedopower.com.

As stated in the section “Assumption of ability to continue as a going concern” of the accounting policies and based on the overall assessment of the Company's management, the Company has considered it justified to prepare the financial statements in accordance with the principle of going concern. However, uncertainty about the impact of the Covid-19 pandemic on the business and uncertainty about the realization of the subscription and directed issue are such significant uncertainties that may cast significant doubt on the Company's ability to continue as a going concern.

The company's auditor has issued an auditor's report dated 10 March 2021 for the financial period 1 January to 31 December 2020. The auditor's report contains additional information on material uncertainties related to the continuity of the Company's operations. The auditor draws attention to the section “Assumption of ability to continue as a going concern” of the consolidated financial statements. Uncertainty about the impact of the Covid-19 pandemic on the business and uncertainty about the realization of share issues are such significant uncertainties that may cast significant doubt about the Company's ability to continue as a going concern. On the date of signing the auditor's report, the completion of the overall arrangement announced by the Company on 16 February 2021 is pending. In our opinion, the abovementioned events and circumstances involve material uncertainty that may cast significant doubt upon Enedo Plc and the Group to continue as a going concern. The opinion of the auditor has not been qualified by this matter.

The company will publish Finnish and English language annual report, corporate governance statement and remuneration report in the week 13/2021.



ENEDO PLC


Vesa Leino

President and CEO


For further information please contact CEO Mr. Vesa Leino, tel. +358 40 759 8956.

DISTRIBUTION

Nasdaq Helsinki Ltd
Principal media

Enedo

Enedo is a European designer and producer of high-quality electronic power supplies and systems for critical equipment even in the most demanding environments. Enedo’s mission is to make electricity better – more reliable, more secure, more energy efficient – and just right to fit its purpose. Enedo’s three main product categories are Led Drivers, Power Supplies and Power Systems. In 2020 the group’s net sales was EUR 38,5 million. Enedo has 354 employees and its main functions are located in Finland, Italy, Tunisia and USA. The group’s head office is in Finland and parent company Enedo Oyj is listed on Nasdaq Helsinki Oy.

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