Årsredovisning Ortelius International AB 2025
ORTELIUS International AB Publishes Annual Report for 2025
ORTELIUS International AB ("ORTELIUS" or the "Company") today publishes its Annual Report for the financial year 2025. The Annual Report is, in all material respects, consistent with the previously published Year-End Report for 2025. However, in connection with the finalization of the Annual Report and the completion of the audit process, the parent company has recognized an impairment of shares in subsidiaries amounting to SEK 210 million.
The auditor has issued an audit report containing an Emphasis of Matter paragraph relating to the assumption of going concern, as well as certain remarks pursuant to the Swedish Companies Act.
The Annual Report is available on the Company's website, Financial Reports – Investor Relations, and is also attached to this press release.
Impairment of Shares in Subsidiaries
The parent company has recognized an impairment of SEK 210 million relating to its shares in subsidiaries. Following the impairment, the carrying value of the holdings as of 31 December 2025 corresponds to the Company's market capitalization at the balance sheet date.
The impairment affects the parent company's earnings and financial position but has no impact on the Group's earnings, cash flow or financial position.
Apart from this adjustment, there are no material differences between the Year-End Report and the Annual Report for 2025.
Audit Report
The auditor has issued an audit report containing an Emphasis of Matter paragraph regarding the going concern assumption, as well as certain remarks pursuant to the Swedish Companies Act.
Material Uncertainty Related to Going Concern
The auditor has included an Emphasis of Matter paragraph regarding the Company's need for additional financing to ensure the continued operation of the business.
Company Comment
The Company is actively working to secure long-term financing for its operations. At the date of issuance of the Annual Report, the required financing had not yet been fully secured. The process is ongoing, and the Company continues to pursue its financing initiatives. The market will be informed of any material developments in accordance with applicable regulations.
Delayed Tax Payments
The auditor has noted that withheld taxes were, on certain occasions, not remitted within the prescribed deadlines.
Company Comment
The Company acknowledges the auditor's remark and has strengthened its internal procedures and control processes to ensure proper handling going forward.
Capital Deficiency Process
The auditor has noted that the former Board of Directors did not convene the first control meeting within the timeframe prescribed by the Swedish Companies Act.
Company Comment
This remark relates to the actions of the previous Board during 2025. Since then, the Company has strengthened its corporate governance, compliance procedures and financial monitoring processes.
Delayed Annual Report
The auditor has noted that the Annual Report was not prepared in sufficient time for the Annual General Meeting to be held within six months of the end of the financial year, as required under the Swedish Companies Act.
Company Comment
The Company regrets the delay and has implemented measures to strengthen planning, resource allocation and financial reporting processes ahead of future reporting periods.