Ixonos - Company Announcement

IXONOS' 2014 AUDITOR’S REPORT

Helsinki, Finland, 2015-04-09 12:20 CEST (GLOBE NEWSWIRE) -- Ixonos Plc        
 Stock Exchange Release          09 April 2015 at 13:20 


IXONOS' 2014 AUDITOR'S REPORT

In addition to the standard format text the report includes the following
additional information: 

“Additional information related to emphasizing a specific issue.

We would like to draw attention to the issues described in the financial
statements and the Report of the Board of Directors related to the company
having been clearly unprofitable in recent years. As described in the Report of
the Board of Directors the company has during the financial year and after the
year-end strengthened its balance sheet and restructured its debts, whilst
attempting to improve its operational profitability. The objective of these
measures is to ensure the continuity of operations. There is however
substantial uncertainty related to operational profitability improvements,
which may cast doubt upon the company's ability to continue its operations. Our
report is however not adjusted by this point.” 

The full auditor's report is attached to this release. Ixonos' Financial
Statements 2014 has been published on 20 March, 2015 and posted on the
company's website at www.ixonos.com/investor/. 

IXONOS PLC

Esa Harju

President and CEO

Additional Information:



Ixonos PLC, Mikael Nyberg, CFO, tel. +358 40 501 4401, mikael.nyberg@ixonos.com



Distribution:
NASDAQ OMX Helsinki
Main Media

www.ixonos.com













Auditor's Report



To the Annual General Meeting of Ixonos Oyj.



We have audited the accounting records, the financial statements, the report of
the Board of Directors and the administration of Ixonos Oyj for the year ended
December 31, 2014. The financial statements comprise the consolidated statement
of financial position, income statement, statement of comprehensive income,
statement of changes in equity and statement of cash flows, and notes to the
consolidated financial statements, as well as the parent company's balance
sheet, income statement, cash flow statement and notes to the financial
statements. 

Responsibility of the Board of Directors and the Managing Director.

The Board of Directors and the Managing Director are responsible for the
preparation of consolidated financial statements that give a true and fair view
in accordance with International Financial Reporting Standards (IFRS) as
adopted by the EU, as well as for the preparation of financial statements and
the report of the Board of Directors that give a true and fair view in
accordance with the laws and regulations governing the preparation of the
financial statements and the report of the Board of Directors in Finland. The
Board of Directors is responsible for the appropriate arrangement of the
control of the company's accounts and finances, and the Managing Director shall
see to it that the accounts of the company are in compliance with the law and
that its financial affairs have been arranged in a reliable manner. 

Auditor's Responsibility.

Our responsibility is to express an opinion on the financial statements, on the
consolidated financial statements and on the report of the Board of Directors
based on our audit. The Auditing Act requires that we comply with the
requirements of professional ethics. We conducted our audit in accordance with
good auditing practice in Finland. Good auditing practice requires that we plan
and perform the audit to obtain reasonable assurance about whether the
financial statements and the report of the Board of Directors are free from
material misstatement, and whether the members of the Board of Directors of the
parent company or the Managing Director are guilty of an act or negligence
which may result in liability in damages towards the company or whether they
have violated the Limited Liability Companies Act or the articles of
association of the company. An audit involves performing procedures to obtain
audit evidence about the amounts and disclosures in the financial statements
and the report of the Board of Directors. The procedures selected depend on the
auditor's judgment, including the assessment of the risks of material
misstatement, whether due to fraud or error. In making those risk assessments,
the auditor considers internal control relevant to the entity's preparation of
financial statements and report of the Board of Directors that give a true and
fair view in order to design audit procedures that are appropriate in the
circumstances, but not for the purpose of expressing an opinion on the
effectiveness of the company's internal control. An audit also includes
evaluating the appropriateness of accounting policies used and the
reasonableness of accounting estimates made by management, as well as
evaluating the overall presentation of the financial statements and the report
of the Board of Directors. We believe that the audit evidence we have obtained
is sufficient and appropriate to provide a basis for our audit opinion. 



Opinion on the Consolidated Financial Statements.

In our opinion, the consolidated financial statements give a true and fair view
of the financial position, financial performance, and cash flows of the group
in accordance with International Financial Reporting Standards (IFRS) as
adopted by the EU. 



Opinion on the Company's Financial Statements and the Report of the Board of
Directors. 

In our opinion, the financial statements and the report of the Board of
Directors give a true and fair view of both the consolidated and the parent
company's financial performance and financial position in accordance with the
laws and regulations governing the preparation of the financial statements and
the report of the Board of Directors in Finland. The information in the report
of the Board of Directors is consistent with the information in the financial
statements. 



Additional information related to emphasizing a specific issue.



We would like to draw attention to the issues described in the financial
statements and the Report of the Board of Directors related to the company
having been clearly unprofitable in recent years. As described in the Report of
the Board of Directors the company has during the financial year and after the
year-end strengthened its balance sheet and restructured its debts, whilst
attempting to improve its operational profitability. The objective of these
measures is to ensure the continuity of operations. There is however
substantial uncertainty related to operational profitability improvements,
which may cast doubt upon the company's ability to continue its operations. Our
report is however not adjusted by this point. 



Helsinki, March 19, 2015



KPMG OY AB

Esa Kailiala

Authorised Public Accountant

Attachments:

20150409 auditors report ENG.pdf