Panostaja Records a Goodwill Impairment Loss of Meur 3.3 in Carrot

Panostaja Oy     Stock Exchange Bulletin, inside information      September 3, 2020        9.30 a.m.

Panostaja Records a Goodwill Impairment Loss of Meur 3.3 in Carrot

Panostaja´s investment Carrot's net sales and EBIT has been weaker than anticipated. As part of impairment testing of goodwill, Panostaja has reviewed the prospects of Carrot and other presumptions related to operations and the business environment. With reference to Carrot´s impairment tests, Carrot´s consolidated goodwill will be written down by MEUR 3.3. Carrot’s remaining amount of goodwill will be MEUR 4.6.

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

Panostaja Oyj



Tapio Tommila

CEO

Further information:

CEO Tapio Tommila, +358 (0)40 527 6311

Panostaja is an investment company developing Finnish SMEs in the role of an active 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 strives to increase shareholder value and create Finnish success stories. Panostaja has a majority holding in seven investment targets. Panostaja’s shares (PNA1V) are quoted on the Nasdaq Helsinki Stock Exchange. In the 2019 financial year, the Group’s net sales totaled MEUR 190.