Hoist Finance presents impact of changes in accounting principles and introduces new segment reporting
In the year-end report 2017 Hoist Finance announced that the company had analysed the effects of the new accounting principles IFRS 9 and IFRS 15, which became effective on 1 January 2018. In summary, the new principles do not have any material impact on the Group's financial position and capital adequacy.
As part of the company's adaptation to the new accounting principle IFRS 9, Hoist Finance income statement will be adjusted to report interest income in accordance with the effective interest method.
As an effect of the new organisation, which became effective on March 27, Hoist Finance will also introduce new segment reporting.
The company invites to a telephone conference on April 2, 11:00 CET to discuss the above named changes. The meeting will be hosted by Christer Johansson, acting CFO and Michel Fischier, Group Head of Investor Relations.
The conference will be held in English via a telephone or audio broadcast at https://tv.streamfabriken.com/2018-05-02-hoist-finance-pressconference
Dial-in details for the conference call:
UK: +44 2030089808
SE: +46 856642663
US: +1 8558315946
Questions can be asked via teleconference or in writing via the audio broadcast.
For further information please contact:
Group Head of Investor Relations
Tel: 46 8 555 177 19
About Hoist Finance
Hoist Finance is a trusted debt restructuring partner to international banks and financial institutions. We are specialised in serving banks in handling non-performing loans, and supporting individuals in becoming debt free. Through expertise and rigorous compliance we earn the banks’ trust. Through respect, honesty and fairness we earn the trust of our customers. For further information, please visit hoistfinance.com.