Incap’s annual report, auditor’s report and corporate governance statement published

Incap Corporation
Stock Exchange Release 18 March 2014 at 3 p.m. (EET)

INCAP’S ANNUAL REPORT, AUDITOR’S REPORT AND CORPORATE GOVERNANCE STATEMENT PUBLISHED

Incap Corporation’s annual report including the consolidated financial statements for 2013 has been published in Finnish and in English. The report is available in PDF form on the company’s website at www.incap.fi/Media/Annual report. The annual report has been published only in electronic format, but prints of it can be ordered using e-mail communications@incap.fi.

The annual report includes among others the report of the Board of Directors, consolidated financial statements and the auditor’s report.

Auditor’s report
In its report the auditor wants, without qualifying its opinion, to draw attention to the issues described in report of the Board of Directors and notes to financial statements of the company’s financing and sufficiency of working capital.  According to the cash flow forecast, the company’s working capital is not sufficient for the needs of next 12 months. According to the company’s estimate the additional working capital requirement is about EUR 1-1.5 million. The factors in the report of the Board of Directors and in the notes to the financial statements indicate essential uncertainty which may give a significant reason to doubt the company’s ability to continue operations.

In addition, without qualifying its opinion, the auditor wants to draw attention to the valuation of Estonian subsidiary shares described in the report of the Board of Directors and in section 11 in notes to the financial statements of the parent company. According to the company, significant uncertainty may be included in the valuation of Estonian subsidiary shares and the value of the shares has a significant impact on the parent company’s equity ratio and the equity.

Corporate governance statement
Incap has published the corporate governance statement as a separate document, which is available on the company’s website at www.incap.fi/Investors/Corporate Governance.

Also the Group’s remuneration statement is available on the company’s website in section Investors/Corporate Governance/Remuneration.

INCAP CORPORATION

Fredrik Berghel
President and CEO

Further information:
Fredrik Berghel, President and CEO, tel. +46 73 202 2210
Kirsti Parvi, CFO, tel. +358 50 517 4569

DISTRIBUTION
NASDAQ OMX Helsinki Ltd
Principal media
www.incap.fi

APPENDIX
Annual report and financial statements including the report of the Board of Directors and Auditor’s report
Corporate governance statement

INCAP IN BRIEF
Incap Corporation is an international contract manufacturer whose comprehensive services cover the entire life-cycle of electromechanical products from design and sourcing to actual manufacture and further to maintenance services. Incap’s customers are leading suppliers of high-technology equipment in their own business segments, and Incap increases their competitiveness as a strategic partner. Incap has operations in Finland, Estonia, India and China. The Group’s revenue in 2013 amounted to approximately EUR 36.8 million, and the company currently employs approximately 470 people. Incap’s share has been listed on the NASDAQ OMX Helsinki Ltd since 1997. Additional information: www.incap.fi.