Clarifications about Talkpool Annual Report 2024
Final audited figures reflect additional provisions and more cautious accounting practices in line with the 2024 motto "Reduce to the MAX"
Talkpool (TALK Stockholm, TLKP Frankfurt) today released its audited Annual Report 2024, which includes approximately EUR 250 000 in additional provisions compared to the interim report.
Consolidated: Talkpool Group
The Additional Provisions reduce consolidated profits for Talkpool Group with approx. EUR 250 000:
- EUR 50 000 extraordinary audit costs impacting 2025 cashflow, booked retrospectively to 2024
- EUR 200 000 Caribbean non-cash risk adjustment reflecting more cautious accounting practices for risks present for over 10 years
Statutory: Parent Company
The parent company's annual profit was reduced by an additional EUR 1.25 million due to writing down the value of its Pakistani business operations. Combined with the EUR 250 000 mentioned above, this brings the total reduction in reported profits to EUR 1.5 million. Only EUR 50,000 (extra audit costs) affects cash flow - the other adjustments are accounting entries that don't involve cash payments.
Despite the large reported loss, the parent company's financial position actually improved. The company's German subsidiary was revalued upward, creating nearly EUR 2.0 million in additional reserves. This revaluation increases the company's net worth but doesn't affect profit calculations - explaining why the balance sheet is stronger with higher equity even though profits were reduced by large accounting adjustments.
The 2024 Annual Report is aligned with the motto "Reduce to the MAX" that focused on maximizing cost efficiency and risk management while also maximizing potential for future growth.
The complete Annual Report 2024 is available at: https://talkpool.com/financial-reports/
Contact: Magnus Sparrholm, +41 797 581 548