Echo Investment S A : Consolidated annual report of the Echo Investment Group for 2022

2022

Consolidated Annual Report of Echo

Content
About the Company	3
Information on the financial statement	3
Consolidated financial statements of Echo Investment Group for 2022	4
CHAPTER 1	5
Consolidated statement of financial position	6
Consolidated profit and loss account	8
Consolidated statement of comprehensive income	9
Statement of changes in equity	10
Consolidated cash flow statement	11
CHAPTER 2	13
Explanatory notes	13
Explanatory notes to the consolidated financial statement	14
CHAPTER 3	77
Information on financial statement of the Group	77
01.	Echo Investment Group	78
02.	New standards and interpretations that are effective as of 1 January 2022	87
03.	Published standards and interpretations which are not effective yet and have not been adopted	88
04.	Main accounting principles	90
05.	Methods of determining the financial result	100
06.	Material estimates and judgments of the Management Board of the Group	105
07.	Financial risk management	114
08.	Capital risk management	123
09.	Agreements concluded with related entities	124
10.	Significant events aſter the balance sheet day	126
11.	Remuneration of the Management Board and Supervisory Board	127
12.	Agreements concluded with an auditor	130
Statement of the Management Board	132
Contact	134

About the Company

The Echo Investment Group's core activity consists of the construction and sale of residential buildings, construc-tion, lease and sale of office and retail buildings, as well as trade in real estate.

The parent company - Echo Investment S.A. with its headquarter in Kielce, at al. Solidarności 36 - was regis-tered in Kielce on 30 June 1994 and is entered into the National Court Register under number 0000007025 by the District Court in Kielce, 10th Commercial Division of the National Court Register.

index. The main place where the Company runs its busi-ness is Poland. The parent entity is Lisala Sp. z o.o., and the parently company of the highest level of the group is Dayton-Invest Kſt., which is controlled at the highest level by Tibor Veres. The Company was established for an indefinite period.

There have been no changes in the name of the reporting entity or other identifying data since the end of the previ-ous reporting period.

Since 5 March 1996, the Company's shares are quoted at the Warsaw Stock Exchange on the regulated market. They are included into Warsaw Stock Exchange Index WIG, sWIG80 subindex as well as WIG-Real Estate sector

Information on the Management Board and Superviso-ry Board is presented in the Report of the Management Board on the activities of Echo Investment S.A. and its Capital Group for 2022 in part 01 "Basic information about the Company and the Group".

Informaon on the financial statement

The consolidated statements of the Echo Investment S.A. present financial data for the 12-month period ending on 31 December 2022 and comparative data for the 12-month period ending on 31 December 2021.

The Group's financial statement in this financial statements is presented in thousands of Polish zloty (PLN), if not indicated differently.

Declaraon of conformi

Assumpon of connui in operaons

The statements have been drawn up according to the going concern principle as there are no circumstances indicating a threat to continued activity.

Approval of financial statements

The Consolidated Financial Statement for the year end-ed 31 December 2022 was approved for publication on 28 March 2023.

The statements have been prepared in compliance with the International Financial Reporting Standards (IFRS), as adopt-ed for use in the European Commission.

As at 31 December 2022 the Capital Group included 163 subsidiaries consolidated according to the full method and 36 jointly controlled companies consolidated according to the equity method. The composition of the Group Com-panies as at 31 December 2021 is presented in chapter 3, paragraph 01 "Echo Investment Group".

Consolidated Financial Statements of Echo Investment Group for 2022

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