Ratos: Impairment of book values in Ratos
(Thomson Reuters ONE) -
This information is information that Ratos AB is obliged to make public pursuant
to the EU Market Abuse Regulation. The information was submitted for
publication, through the agency of the contact person set out above, at 07.00
CET on 14 October 2016.
Impairment of book values in Ratos
In conjunction with the publication of its third-quarter report, Ratos will
implement considerable impairments of book values. In total, it is expected that
the impairment of goodwill and shares in associates attributable to owners of
the parent will amount to approximately SEK 1.7 billion.
The impairment is attributable to the portfolio companies of Aibel, AH
Industries, Biolin Scientific, Euromaint and Jøtul. The total impairment
attributable to the owners of the parent is expected to amount to approximately
SEK 1.7 billion, of which approximately SEK 1.1 billion is attributable to the
impairment of Aibel's book value*. The exact amount of the impairment will be
established in the third-quarter report and will be charged to the Ratos Group's
net earnings.
"Some of our companies are operating under tough market conditions and are
showing a weak earnings trend. To reflect the companies' market conditions, we
are adapting our book values. As active owners, we work continuously with each
company management to strengthen each company's long-term competitiveness. The
impairment does not affect the applicable full-year forecasts for the
portfolio's operative earnings trend, which is expected to be somewhat lower
than the preceding year's result, adjusted for the size of Ratos's holding,"
says Lars Johansson, Acting CEO of Ratos.
For further information, please contact:
Elin Ljung, Head of Corporate Communications Ratos, 08-700 17 20,
elin.ljung(at)ratos.se
Lars Johansson, Acting CEO Ratos, +46 8 700 17 00, lars.johansson(at)ratos.se
*In accordance with IFRS, minority shares (non-controlling interests) are also
charged to the impairment of the Ratos Group's net earnings. Impairment
attributable to the minority shares is expected to amount to approximately SEK
600m.
Financial calendar from Ratos:
Interim report January-September 2016 10 November 2016
Ratos is an investment company that owns and develops unlisted medium-sized
Nordic companies. Our goal as an active owner is to contribute to long-term and
sustainable business development in the companies we invest in and to make
value-generating transactions. Ratos's portfolio consists of 21 medium-sized
Nordic companies and the largest segments in terms of sales are Construction,
Industrials and Consumer goods/Commerce. Ratos is listed on Nasdaq Stockholm and
has a total of approximately 16,000 employees.
161014_Ratos_ENG:
http://hugin.info/1180/R/2048976/766186.pdf
This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Ratos via GlobeNewswire
Unternehmensinformation / Kurzprofil:
Datum: 14.10.2016 - 07:00 Uhr
Sprache: Deutsch
News-ID 500501
Anzahl Zeichen: 3480
contact information:
Town:
Stockholm
Kategorie:
Business News
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