Panostaja Records a Goodwill Impairment Loss of Meur 3.0 in the Helakeskus Business Segment

 

Panostaja Oy           Stock Exchange Bulletin                         October 30, 2018                     9.45 a.m.

Panostaja Records a Goodwill Impairment Loss of Meur 3.0 in the Helakeskus Business Segment

Despite the overall positive development of the building sector, the development of the Helakeskus business segment’s net sales and EBIT has been weaker than anticipated. As part of impairment testing of goodwill, Panostaja has reviewed the prospects of the Helakeskus business segment and other presumptions related to the business environment. With reference to the Helakeskus segment’s impairment tests, the Helakeskus segment’s consolidated goodwill will be written down by MEUR 3.0. The Helakeskus segment’s remaining amount of goodwill will be MEUR 3.0.

The goodwill impairment loss will not have any cash flow impacts, and it will be recorded in the Helakeskus segment’s fourth quarter results under depreciations.

Panostaja Oyj

Juha Sarsama
CEO

Further information:

CEO
Juha Sarsama
Panostaja Oyj
+358 (0)40 774 2099

Panostaja is an investment company developing Finnish SMEs in the role of an active majority shareholder. The company aims to be the most sought-after partner for business owners selling their companies as well as for the best managers and investors. Together with its partners, Panostaja increases the Group's shareholder value and creates Finnish success stories. Panostaja has a majority holding in nine investment targets. Panostaja’s shares (PNA1V) are quoted on the Nasdaq Helsinki Stock Exchange. In the 2017 financial year, the Group’s net sales totaled MEUR 193.2.

www.panostaja.fi