Trinity Biotech PLC Files 20-F, Details Tax Asset Status
Ticker: TRIB · Form: 20-F · Filed: May 16, 2025 · CIK: 888721
| Field | Detail |
|---|---|
| Company | Trinity Biotech PLC (TRIB) |
| Form Type | 20-F |
| Filed Date | May 16, 2025 |
| Risk Level | medium |
| Sentiment | neutral |
Sentiment: neutral
Topics: tax-asset, financial-reporting, sec-filing
TL;DR
Trinity Biotech 20-F filed: No deferred tax asset recognized due to lack of future income. Past PPP loan income noted.
AI Summary
Trinity Biotech PLC filed its 20-F for the fiscal year ending December 31, 2024. The company did not recognize a deferred tax asset due to insufficient future taxable income and the absence of reversing deferred tax liabilities. In prior years, "other items" included a $4.4 million income from Paycheck Protection Program loans in 2021, which was not taxable.
Why It Matters
This filing provides insight into Trinity Biotech's tax position and financial reporting, which can affect investor understanding of its profitability and future tax liabilities.
Risk Assessment
Risk Level: medium — The inability to recognize a deferred tax asset suggests potential challenges with future profitability or tax planning.
Key Numbers
- 2024 — Fiscal Year End (The period covered by the 20-F filing.)
- $4.4 million — PPP Loan Income (2021) (Non-taxable income reported in a prior year, relevant to 'other items' discussion.)
Key Players & Entities
- TRINITY BIOTECH PLC (company) — Filer of the 20-F report
- 2024 (date) — Fiscal year end for the report
- 2021 (date) — Year in which $4.4 million income from Paycheck Protection Program loans was reported
- 4.4 million (dollar_amount) — Income from Paycheck Protection Program loans in 2021
FAQ
What is the primary reason Trinity Biotech PLC did not recognize a deferred tax asset?
Trinity Biotech PLC did not recognize a deferred tax asset because there was no reversing deferred tax liability in the same jurisdiction and insufficient future projected taxable income in the same jurisdiction.
What were 'other items' in prior years for Trinity Biotech PLC?
In 2021, 'other items' mainly related to US$4.4 million income from Paycheck Protection Program loans, which was not chargeable for tax purposes. In 2022, 'other items' mainly related to the loss on disposal of exchangeable notes.
Did Trinity Biotech PLC receive Paycheck Protection Program income in 2023 or 2022?
No, there was no Paycheck Protection Program income in 2023 or 2022.
How is the weighted average number of shares issued calculated?
The weighted average number of shares issued during the year is calculated by taking the number of shares issued multiplied by the number of days in the year each share is in issue, divided by 365 days.
What is the Standard Industrial Classification for Trinity Biotech PLC?
The Standard Industrial Classification for Trinity Biotech PLC is 'IN VITRO & IN VIVO DIAGNOSTIC SUBSTANCES [2835]'.
Filing Details
This Form 20-F (Form 20-F) was filed with the SEC on May 16, 2025 regarding TRINITY BIOTECH PLC (TRIB).