Apator S A : Condensed consolidated semiannual financial statement

PS-2023

Condensed consolidated semi- annual financial statement

Condensed consolidated semi-annual financial statement

PS-2023

Table of contents

1.	General information	4
	1.1.	Information about the group	4
	1.1.1.	Information about the parent company	4
	1.1.2.	Core activity of the parent company and the capital group	4
	1.1.3.	Composition of the capital group	4
	1.1.4.	Members of the Management Board and the Supervisory Board	6

2. Information about the basis for the preparation of the consolidated financial statements, the reporting currency,

	and the applied rounding level	7
	2.1. The basis for the preparation of the condensed semi-annual consolidated financial statement	7
	2.2.	Accounting principles	7
	2.3. Applied International Financial Accounting Standards	7
	2.4. Reporting and functional currency and the rounding level applied	8
	2.5. Duration of the group's activity	8
	2.6. Approval of the financial statements	8
3.	Consolidated semi-annual financial statement of Apator capital group	9
	3.1. Condensed consolidated semi-annual statement of financial position	9
	3.2. Condensed consolidated semi-annual statement of profit or loss and other comprehensive income	11
	3.3. Condensed consolidated semi-annual statement of changes in equity	13
	3.4. Condensed consolidated semi-annual statement of cash flows	15
4.	Basic judgements and basis for uncertainty estimation	16
5.	Information on the seasonality of operations	16
6.	Impact of the environment on the financial position of Apator Group	16
7.	Explanatory notes to the condensed consolidated financial statements	17
	7.1.	Alternative performance measures	17
	7.2.	Operating segments	17
	7.3.	Intangible assets	18
	7.4.	Goodwill of subsidiaries	19
	7.5.	Tangible fixed assets	19
	7.6. Right to use assets	20
	7.7. Fixed assets classified as held for sale	21
	7.8.	Inventories	21
	7.9. Trade receivables and other receivables	22
	7.10.	Share capital	24
	7.11.	Other capitals	24
	7.12.	Credits and loans	25
	7.13.	Hedging instruments	26
	7.14.	Provisions for liabilities	28

Name of the Group:

Period covered by the financial statement: Rounding level:

Apator Capital Group		Page 2 of 39
01.01.2023 - 30.06.2023	Reporting currency:	Polish zloty (PLN)

all amounts are expressed in thousands of PLN (unless stated otherwise)

		Condensed consolidated semi-annual financial statement
			PS-2023
	7.15.	Income tax	29
	7.16.	Revenues	30
	7.17. Other operating revenues and expenses	31
	7.18. Financial revenues and expenses	32
	7.19.	Earnings per share	32
	7.20. Notes to the condensed consolidated semi-annual statement of cash flows	32
	7.21.	Information about related entities	35
	7.22. Contingent items and other items not included in the condensed consolidated semi-annual statement of
		financial position	35
	7.23.	Employment structure	37
	7.24. Amount of remuneration for the entity authorised to audit the financial statements	37
8.	Events after the balance sheet date	38
9.	Signatures	39

Name of the Group:

Period covered by the financial statement: Rounding level:

Apator Capital Group		Page 3 of 39
01.01.2023 - 30.06.2023	Reporting currency:	Polish zloty (PLN)

all amounts are expressed in thousands of PLN (unless stated otherwise)

Condensed consolidated semi-annual financial statement

PS-2023

1. General information

1.1. Information about the group

Apator Capital Group consists of the parent company Apator S.A. and its direct and indirect subsidiaries and jointly controlled entities.

1.1.1. Information about the parent company

The parent company Apator Spółka Akcyjna with its seat in Toruń (ul. Gdańska 4a lok C4) was created by employees of a liquidated state enterprise operating under the name of Pomorskie Zakłady Aparatury Elektrycznej Apator in Toruń. Its registration in the District Court in Toruń, 5th Commercial Division, took place on 14 January 1993 under the number RHB 1364. On 24 October 2001, an entry was made in the Register of Entrepreneurs of the District Court in Toruń, 7th Commercial Division of the National Court Register, under number 0000056456. The parent company operates in the territory of Poland pursuant to the provisions of the Commercial Companies Code. The parent company's manufacturing operations are conducted in the following locations: Ostaszewo 57C 87-148 Łysomice, Toruń ul. Polna 148, Łódź ul. Wołowa 2c.

1.1.2. Core activity of the parent company and the capital group

According to the articles of association of the parent company, the core activity consists of the production and service activity in the field of electricity distribution and control equipment, as well as the sale of measurement equipment and systems. The shares of Apator S.A. are listed on the main market - in the the "electromechanical industry" sector according to Warsaw Stock Exchange's classification.

Entities within the capital group are generally focused on activities related to the production and sale of measuring instruments and devices, control and measurement, distribution and control equipment, SCADA class IT systems and telemechanical devices cooperating with them, protections and other network devices for distributed systems, providing the possibility of remote control and supervision of the power network in the full range of voltages and devices reading and transmitting data.

1.1.3. Composition of the capital group

In the first half of 2023, Apator Capital Group consisted of Apator S.A. and the following subsidiaries:

Apator Mining Sp. z o.o. (Katowice) - a subsidiary of Apator S.A. FAP Pafal S.A. (Świdnica) - a subsidiary of Apator S.A.

Apator Metrix S.A. (Tczew) - a subsidiary of Apator S.A. Apator GmbH (Berlin, Germany) - a subsidiary of Apator S.A. Apator Rector Sp. z o.o. (Zielona Góra) - a subsidiary of Apator S.A. Apator Powogaz S.A. (Poznań) - a subsidiary of Apator S.A.

Apator Telemetria Sp. z o.o. (Słupsk) - a subsidiary of Apator Powogaz S.A. (71.89% of shares); Apator S.A. holds 20.8% of shares in Apator Telemetria Sp. z o.o.

Apator Metra s.r.o. (Šumperk, Czech Republic) - a subsidiary of Apator Powogaz S.A. APATOR MIITORS ApS. (Aarhus, Denmark) - a subsidiary of Apator Powogaz S.A. George Wilson Industries Ltd. (Coventry, Great Britain) - a subsidiary of Apator Metrix S.A.

Name of the Group:

Period covered by the financial statement: Rounding level:

Apator Capital Group		Page 4 of 39
01.01.2023 - 30.06.2023	Reporting currency:	Polish zloty (PLN)

all amounts are expressed in thousands of PLN (unless stated otherwise)

Entities within the capital group subject to full consolidation

Condensed consolidated semi-annual financial statement PS-2023

Company

APATOR MINING Sp. z o.o.

APATOR

METRIX S.A.

FAP PAFAL S.A.

Headquarters

Katowice

Tczew

Świdnica

Core business activity

Wholesale of mining, construction, and civil engineering machinery

Manufacture of measuring, control, navigation, and other instruments and devices

Manufacture of measuring and control equipment, electrical and electronic equipment, trading activities, maintenance services

Competent court/

registering authority

The Regional Court in Katowice, 8th Commercial Division of the National Court Register; KRS (National Court Register) number 0000047770

The Regional Court in Gdańsk, 9th Commercial Division of the National Court Register; KRS (National Court Register) number 0000046259

The Regional Court for Wrocław - Fabryczna in Wrocław, 9th Commercial Division of the National Court Register; KRS (National Court Register) number 0000057162

Share in	Method of	Comments
capital	consolidation
100.00%	Full	Subsidiary
100.00%	Full	Subsidiary
100.00%	Full	Subsidiary

APATOR RECTOR

Sp. z o.o.

APATOR POWOGAZ S.A.

APATOR GmbH

APATOR TELEMETRIA Sp. z o.o.

APATOR METRA S.R.O.

GEORGE WILSON

INDUSTRIES Ltd

APATOR MIITORS ApS.

Zielona

Góra

Poznań

Berlin

Słupsk

Sumperk

Czech

Republic

Coventry

United

Kingdom

Aarhus Denmark

Information technology, publishing activities, printing and reproduction of recorded media

Manufacture of measuring, control, research, and navigation instruments and devices, manufacture of other general-purpose machinery

Sale of prepayment systems for electricity and gas meters

Manufacture of data reading and transmission devices, manufacture of system IT applications

Manufacture of cost allocator systems, thermometers, and thermostats

Manufacture and sale of domestic and industrial gas meters; smart metering in gas metering

Design and development of ultrasonic technologies in the area of water and heat metering

The Regional Court in Zielona Góra, 8th Commercial Division of the National Court Register; KRS (National Court Register) number 0000297413

The Regional Court Poznań - Nowe Miasto and Wilda in Poznań, 8th Commercial Division of the National Court Register; KRS (National Court Register) number 0000028129

HRB 123670B

Charlottenburg

The Regional Court Gdańsk - Północ in Gdańsk, 8th Commercial Division of the National Court Register; KRS (National Court Register) number 0000290726

Krajský soud v Ostravě, 268 34 073

Companies House, 02873275

The Central Business Register, 32763286

100.00% FullSubsidiary

100.00% FullSubsidiary

100.00% FullSubsidiary

Subsidiary

92.69% Full Direct and indirect share

Indirect subsidiary

100.00% Full

Indirect share

Indirect subsidiary

100.00% Full

Indirect share

Indirect subsidiary

100.00% Full

Indirect share

Name of the Group:	Apator Capital Group		Page 5 of 39
Period covered by the financial statement:	01.01.2023 - 30.06.2023	Reporting currency:	Polish zloty (PLN)
Rounding level:	all amounts are expressed in thousands of PLN (unless stated otherwise)