In Berlin, Adler had graffiti sprayers advertise for itself. Since KPMG’s refusal on Friday to certify the 2021 annual financial statements, an image as a “cool” company has hardly been tenable.
(Photo: imago images/Achille Abboud)
Dusseldorf, Berlin The Adler Group is running out of time. The real estate group, which is listed in the SDax, has less than ten hours to publish its annual financial statements for the 2021 financial year.
Failure to do so will result in Adler breaching terms of outstanding bonds. The consequences would be almost incalculable. Billions could be at stake in the short term.
But even if the company presents the figures in the last remaining hours, the value of their content is extremely limited.
Because on Friday evening, the Luxembourg-based group shocked markets and investors with the report that the auditors from KPMG had refused to certify the consolidated and individual financial statements “since the auditor is unable to issue an audit opinion”. A very rare event.
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