LegalPCF Group
Sprawozdanie Rady Nadzorczej PCF Group S.A. Z siedzibą w Warszawie za Rok Obrotowy 2023
29 Apr 20248 pages~11 min full read
PCF Group S.A. reported a net loss of 64,652 thousand zł for the 2023 fiscal year, with the supervisory board recommending that this loss be covered entirely by the company's reserve capital.
The consolidated financial statements for the capital group show a net loss of 75,575 thousand zł and a total comprehensive loss of 80,889 thousand zł for the period ending 31 December 2023.
Despite the net losses, the company saw a significant increase in equity, with standalone equity rising by 171,253 thousand zł and consolidated equity increasing by 150,251 thousand zł.
Standalone cash flow improved by 48,397 thousand zł during 2023, whereas consolidated cash flow experienced a decline of 56,033 thousand zł.
As of 31 December 2023, the company held total assets of 502,508 thousand zł on a standalone basis and 513,461 thousand zł on a consolidated basis.
The supervisory board confirmed that all financial reporting, including standalone and consolidated statements, complies with International Financial Reporting Standards (IFRS) and Polish commercial law.
The supervisory board’s 2023 assessment of PCF Group S.A. serves to verify the integrity of the company’s financial reporting, evaluate the proposed loss‑coverage measures, and confirm compliance with applicable Polish commercial law and International Financial Reporting Standards. The review covers both the standalone financial statements of PCF Group S.A. and the consolidated statements of its capital group for the fiscal year ending 31 December 2023, encompassing the Polish market and the group’s full corporate structure.
The standalone balance sheet records total assets of 502,508 thousand zł, while the income statement shows a net loss of 64,652 thousand zł and a corresponding negative total comprehensive income of the same amount. Equity increased by 171,253 thousand zł, and cash flow improved by 48,397 thousand zł. The consolidated balance sheet lists assets of 513,461 thousand zł, a net loss of 75,575 thousand zł, and a total comprehensive loss of 80,889 thousand zł. Consolidated equity rose by 150,251 thousand zł, but cash flow declined by 56,033 thousand zł. The board recommends that the ordinary shareholders’ meeting approve these statements and endorse the management’s proposal to cover the entire net loss of 64,651,944.69 zł using the company’s reserve capital.
The evaluation was conducted in accordance with Articles 382 and 395 of the Polish Commercial Companies Code, drawing on the annual standalone and consolidated financial reports, the management’s activity report, and the independent auditor’s opinion. The supervisory board confirmed that all documents were prepared in line with IFRS endorsed by the European Union, reflected the true financial position, and were submitted within statutory deadlines. It also affirmed that the management fulfilled its informational duties under Article 380¹, providing regular updates on operational, investment, and personnel matters without any additional requests for documentation.
Overall, the board’s positive assessment underscores the adequacy of the financial disclosures, the feasibility of the loss‑coverage plan, and the company’s adherence to governance and reporting standards for the 2023 fiscal period.
