Updated Mar 23, 2026 by PCF Group
PCF Group S.A. has recorded a 100% impairment of capitalized development costs for the Bifrost project, totaling 213.5 million PLN in standalone assets and 155.0 million PLN in consolidated assets.
The Bifrost impairment was triggered by the company's inability to guarantee the necessary financing for the project's continued production and release.
Despite the accounting write-down, development work on the Bifrost project is continuing, and the impairment remains reversible if future funding conditions improve.
The company recognized a 73% impairment of its investment in subsidiary Incuvo S.A., reducing standalone assets by 18.9 million PLN.
A 100% impairment of goodwill allocated to Incuvo S.A. was recorded, resulting in a permanent 18.1 million PLN reduction in consolidated assets.
These non-cash adjustments, which do not impact EBITDA, are intended to align the company's balance sheet with financial realities as of December 31, 2024.
All reported figures are subject to final audit verification and may be adjusted prior to the publication of the official 2024 financial statements.
PCF Group S.A. has recorded a 100% impairment of capitalized development costs for the Bifrost project, totaling 213.5 million PLN in standalone assets and 155.0 million PLN in consolidated assets.
The Bifrost impairment was triggered by the company's inability to guarantee the necessary financing for the project's continued production and release.
Despite the accounting write-down, development work on the Bifrost project is continuing, and the impairment remains reversible if future funding conditions improve.
The company recognized a 73% impairment of its investment in subsidiary Incuvo S.A., reducing standalone assets by 18.9 million PLN.
A 100% impairment of goodwill allocated to Incuvo S.A. was recorded, resulting in a permanent 18.1 million PLN reduction in consolidated assets.
These non-cash adjustments, which do not impact EBITDA, are intended to align the company's balance sheet with financial realities as of December 31, 2024.
All reported figures are subject to final audit verification and may be adjusted prior to the publication of the official 2024 financial statements.