Pricewaterhouse has completed the audit for the first half of 2014 of Carbures providing an unqualified report
The company will finish 2014 with a consolidated revenue of around EUR 60 million, a 300 % increase, and expects to comfortably exceed the EUR 100 million in 2015.
- There will be no need for the company from Cádiz to restate the financial statements pertaining to 2013, but merely to update them, according to the auditor.
- The auditor recognizes the validity of the applied accounting method of the transaction with Shenyan Hengrui. However, PwC has recommended to change it. The company accepts the suggestion and will allocate it proportionately over the entire contract period.
- As a consequence of the changes in the statements, the transaction with Ansal will be accounted in 2014.
The connection with Sinatec and Materiable was already included in the statements for the years 2011 and 2012.