M&A - Caesarstone Ltd.

Form Type: 20-F

Filing Date: 2025-03-05

Corporate Action: Acquisition

Type: New

Accession Number: 000117891325000706

Filing Summary: Caesarstone Ltd. filed its annual report for the fiscal year ended December 31, 2024, highlighting significant developments including the acquisition of redeemable non-controlling interest in Lioli. The firm undertook an impairment test on its goodwill due to declining market value and other financial pressures, resulting in a non-cash impairment charge of $44,829 in 2022. The report also details the tax loss carry-forwards, estimated at $197,396, with no expiration date, which can offset future taxable income. In 2022, Lioli secured a new loan agreement with a banking institution, establishing standard financial covenants. Additionally, part of the report discusses asset impairments related to lease agreements and revisions to future lease payments, notably after the closure of the Sdot Yam plant. The company's current operating lease commitments are approximately $2.7 million, commencing in 2025. The report includes important accounting policies, such as adherence to U.S. GAAP and specifies that the financial statements were audited for internal control effectiveness, affirming compliance with regulatory requirements.

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