H100 Group AB Board resolves to initiate transition to IFRS reporting
The Board of Directors of H100 Group AB (“H100” or the “Company”) has resolved to transition the Company’s consolidated financial reporting to International Financial Reporting Standards (“IFRS”). The conversion process is now underway and is expected to be completed by the end of 2025.
IFRS is a globally recognized accounting framework. Compared with the Company’s current accounting standard (K3), IFRS provides greater transparency and enhanced comparability across markets. The adoption of IFRS will strengthen H100’s financial reporting and governance framework, ensuring alignment with international best practices and establishing a solid foundation for the Company’s future growth and ambitions.
“IFRS is an important foundation and a necessary part of the infrastructure that will enable us to take H100 to the next level. For management, it is also an important step in demonstrating that we are executing according to the recently communicated 21-step plan, available on our website.,” says Johannes Wiik, CEO of H100 Group AB.
The transition to IFRS is not expected to affect H100’s day-to-day operations. Any potential material accounting effects will be communicated upon completion of the transition. Historical financial information will be restated in accordance with IFRS where relevant to ensure consistency and comparability following implementation. The process is now underway and is expected to be completed by the end of 2025, subject to final technical implementation and auditor review.