Correction of the income statements for 2022 and 2023 not impacting the result or cash flow
eEducation Albert AB (publ) today announces a correction of non-result or cash flow affecting errors in revenue and cost reporting for the fiscal years 2022 and 2023.
The Correction
In connection with the preparation of the annual report, the company has, after investigation, discovered a structural error in eEducation Albert AB (publ). This error has resulted in incorrect reporting of net sales as well as corresponding expenses and concerns revenues related to subscriptions where payment has not been made and which are booked with a corresponding expense for potential customer loss. The error pertains to the years 2023 and 2022. The following corrections have been made:
Consolidated group
| 2023 | 2022 | |||||
| Before correction | Correction | After correction | Before correction | Correction | After correction | |
| Net revenue | 195,077 | -17,184 | 177,893 | 123,055 | -21,259 | 101,796 |
| Other external costs | -122,063 | 17,184 | -104,879 | -163,426 | 21,259 | -142,167 |
| Result effect | 0 | 0 | ||||
Parent company
| 2023 | 2022 | |||||
| Before correction | Correction | After correction | Before correction | Correction | After correction | |
| Net revenue | 79,302 | -17,184 | 62,118 | 86,886 | -21,259 | 65,627 |
| Other external costs | -73,077 | 17,184 | -55,893 | -147,601 | 21,259 | -126,342 |
| Result effect | 0 | 0 | ||||
Impact on company operations and key metrics
The error has not affected the company's operations or decisions. The company, in consultation with its auditors, has corrected the error, as reflected in the tables above, and is reviewing the process going forward to ensure fair and transparent reporting in our financial statements.
Due to the correction, changes have occurred between the previously published year end report for 2023 and the upcoming annual report for the fiscal year 2023.