Savo-Solar Plc: Auditor’s report for financial year 1 Jan-31 Dec 2016


Savo-Solar Plc
Company Announcement            15 March 2017 at 11.00 a.m. (CET)

Savo-Solar Plc: Auditor’s report for financial year 1 Jan-31 Dec 2016

Savo-Solar Plc’s auditor has on 14 March 2017 given the enclosed auditor’s report for the financial year 1 January-31 December 2016. The auditor’s report includes the following additional information:

Material Uncertainty Related to Going Concern
We draw attention to the notes in financial statements, section “Common risks and uncertainties in business”, according to which, based on the current level of costs and revenues the company does not expect the working capital to be enough within the next 12 months period. These conditions indicate that a material uncertainty exists which may cast significant doubt on the Company’s ability to continue as a going concern. Our opinion is not modified in respect of this matter.”

Savo-Solar will publish the financial accounts for 2016 on Monday, 20 March 2017.


For more information:
Managing Director Jari Varjotie
Phone: +358 400 419 734

The Company’s Certified Adviser
Mangold Fondkommission AB
Phone.: +46 8 5030 1550.

Auditors’ report

Savo-Solar Plc. discloses the information provided herein pursuant to the Securities Markets Act and/or the Financial Instruments Trading Act. The information was submitted for publication on 15 March 2017 at 11.00 a.m. (CET).

Savo-Solar in brief
Savo-Solar with its highly efficient collectors and large-scale solar thermal systems has taken solar thermal technology to the next level. The company’s collectors are equipped with the patented nano-coated direct flow absorbers, and with this leading technology, Savo-Solar helps its customers to produce competitive clean energy. Savo-Solar’s vision is to be the first-choice supplier to high performance solar installations on a global scale. Focus is on large-scale applications like district heating, industrial process heating and real estate systems – market segments with a big potential for rapid growth. The company primarily delivers complete systems from design to installation, using the best local partners. Savo-Solar is known as the most innovative company in the business, and aims to stay as such. The company has sold and delivered its products to 17 countries on four continents. Savo-Solar’s shares are listed on Nasdaq First North Sweden with the ticker SAVOS and on Nasdaq First North Finland with the ticker SAVOH.

The Company’s Certified Adviser is Mangold Fondkommission AB, tel.: +46 8 5030 1550.

Savo-Solar Plc’s Auditor’s Report

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