Cencorp - Annual report/ annual accounts

The disclosure of the Auditor's report and Annual Report 2011

Cencorp Corporation     Stock Exchange Release 4 April 2012 at 15:20 Finnish
time 

THE DISCLOSURE OF THE AUDITOR´S REPORT AND ANNUAL REPORT 2011

The Finnish Financial Supervisory Authority granted on April 2, 2012 to Cencorp
an exemption permit to deviate from the deadline of the disclosure of the
Financial Statement, Report of the Board of Directors and the Auditor's Report,
pursuant to the Finnish Securities Market Act. 

Cencorp has today received Auditor´s Report concerning its financial statement.
The Auditor´s Report corresponds the draft version which was published on March
29, 2012. The Auditor's Report includes a so-called Emphasis of Matter,
concerning the company's financing position. The Auditor's Report is of a
standard format. In further information point, the auditor states as follows: 

“Emphasis of Matter

Without qualifying our opinion, we draw attention to the basis of preparation
of the financial statements and to Note 28: Financial risk management. The
financial statements have been prepared under the going concern assumption. The
continuity of operations requires the company to be able to obtain
supplementary funding and to negotiate changes to the terms of payment during
2012. The company has initiated discussions with its major financiers and
shareholders on measures to strengthen the financing position until the
company's cash flow is expected to return to positive. The company believes
that these measures will secure the sufficiency of working capital for the next
twelve (12) months. However, should the company fail to arrange financing, it
is possible that the company will not be able to realize its assets and repay
its liabilities within usual business operations to a sufficient extent or
quickly enough. This would jeopardize the company's operations in their current
form.” 

According to Cencorp's understanding, the company's financing position will
continue to be tight as Cencorp published on March 30, 2012. However, the
situation has improved from the year-end 2011 and from the disclosure of the
Financial Statements on 17 February 2012. The company published a summary of
its financing negotiations as a stock exchange release on March 30, 2012 at
5.15 pm and stated that as a result of the measures mentioned in the release,
through which Cencorp believes that the company has secured sufficient working
capital for the next twelve (12) months. 

Annual Report 2011 have been published in Finnish and in English attached to
this release and on the company website at www.cencorp.com. The Annual Report
includes the Financial Statements, the Report of the Board of Directors and the
Auditor´s Report. The Annual Report will not be printed. Corporate Governance
Statement 2011 has been published on March 29,2012. 

Mikkeli, 4 April 2012

CENCORP CORPORATION

BOARD OF DIRECTORS



For more information:
Iikka Savisalo, President and CEO, tel. +358 405216082,
iikka.savisalo@cencorp.com 

Distribution:
NASDAQ OMX, Helsinki
Main media
www.cencorp.com


Cencorp Corporation is a leading provider of industrial automation solutions.
The equipment included in the product portfolio designed for depaneling,
odd-form assembly, testing and laser materials processing substantially
improves the efficiency of customers' production. The product range also
includes EMI shielding solutions, flexible circuits, decorations and RFID
antennas. Cencorp's customers are automotive electronics manufacturers and
manufacturers operating in telecommunications, industrial automation and EMS.
Cencorp's head office is located in Mikkeli, Finland. The company is part of
the Finnish Savcor Group.

Attachments:

120404_Cencorp Annual Report 2011.pdf