Elektrobit Oyj: Business description, financial summary, 3yr and interim financials, key statistics/ratios and historical ratio analysis.
Provider: Reuters Investment Profile
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Elektrobit Oyj Changes Method of Consolidation for e.solutions GmbH Decreasing Consolidated Net Sales and Operating Result of Group
Elektrobit Oyj announced that it is to apply the new IFRS10 and IFRS11 standards from the beginning of 2013 and will consolidate e.solutions GmbH, a jointly owned company with Audi Electronics Venture GmbH (AEV), applying the proportionate consolidation method. As a result of the change in the method of consolidation, the proportion of net sales and operating result of e.solutions GmbH consolidated into the Company's consolidated financial statements will decrease from the previous 100% to 51%. According to the rules of proportionate consolidation method, the consolidated statement will also include 49% of the net sales of other Elektrobit group companies to e.solutions GmbH. The new IFRS10 and IFRS 11 standards for consolidated financial statements and joint arrangements will take effect on January 1, 2014, but they may be applied as of January 1, 2013.
Latest Developments for Elektrobit Oyj
- Elektrobit issues FY 2014 outlook in line with analysts' estimates
- Elektrobit raises FY 2013 operating result guidance and specifies FY 2013 net sales outlook
- Elektrobit Oyj Temporarily Lays Off 150 Employees
- Elektrobit Oyj Updates on FY 2013 Financial Guidance and Issues H2 2013 Operating Result Guidance
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