ÅMÅL, Sweden--(BUSINESS WIRE)--Regulatory News:
Trention has established that in its 2015 financial statement the company has not recognised capital gains from the sale of business activities within Compressor Technology and Waste Heat Recovery in accordance with IFRS 5.
In Trention’s financial statement, published on 22 February 2016, the capital gains from the sale, SEK 167.2 million, was recognised as other income in the income statement. IFRS 5 states that capital gains shall be recognised in the income statement as earnings from divested business.
In the company’s annual report, which will be published shortly, a number of items will be amended. These changes will not affect earnings for the period, but changes will be made in the allocation of results from remaining business and results from divested business.
These changes will not affect the balance sheet, nor the net financial receivables in the Group as of 31 December 2015, which amounted to SEK 329.3 million.
The table attached presents the main differences between the annual report and the financial statement.
Trention, which recently changed name from Opcon, is an energy and environmental technology Group that develops, produces and markets systems and products for eco-friendly, efficient and resource-effective use of energy with focus on bioenergy. Trention has activities in Sweden, Germany and the UK. There are around 115 employees. The company’s shares are listed on Nasdaq OMX Stockholm under the OPCO ticker (changing to TRENT).
The information in this press release is published by Trentino AB (publ) in accordance with the Swedish Securities Market Act and / or the Swedish Act on trading in financial instruments. The information was submitted for publication on Friday, 15 April 2016, at. 15:15 (CET).
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