• Decrease in revenue of $0.31 million due to higher project costs
• Increase in depreciation and amortisation, decrease in finance costs due to accounting error correction
• Increase in income tax expense of $2.16 million due to deferred tax asset reversal

Delorean Corporation Ltd (ASX: DEL) has released an Appendix 4E Variance Report, providing an explanation for the material differences between the results disclosed in the Appendix 4E Preliminary Final Report and the final Annual Report. The key adjustments include a decrease in revenue of $0.31 million due to higher Yarra Valley Water project construction costs, an increase in depreciation and amortisation of $0.07 million and a decrease in finance costs of $0.10 million due to a correction of an inadvertent error in discounting methodology, and an increase in income tax expense of $2.16 million due to the reversal of deferred tax assets previously recognised in respect of carried forward tax losses. The Consolidated Statement of Financial Position also shows a decrease in deferred tax assets of $2.16 million, an increase in current borrowings of $29.16 million due to a reclassification, an increase in contract liabilities of $0.31 million, and a decrease in reserves of $0.29 million due to a correction in Black-Scholes valuation inputs for options issued.