Eniro has received a final decision regarding taxable income in the Norwegian operations – positive effect on tax costs in the fourth quarter

Eniro received a tax reassessment notice from the Norwegian Tax Authorities at the end of May this year, regarding the years 2001-2005 for its subsidiary Findexa Norway A/S (acquired by Eniro during 2005), detailing an increase of taxable income, potentially leading to increased tax costs of NOK 231 million (including accrued interest of NOK 19 million). Therefore a provision was made of SEK 280 million in the result for the second quarter 2010.

Eniro has now received a final decision from the Norwegian Tax Authorities implying that the increased tax cost is set to around SEK 105 million. This will have a one-off positive effect of SEK 175 million on tax costs in the fourth quarter 2010. The tax payment is expected to be made during the first quarter 2011.

 

 

 

 

 

For further information:

Johan Lindgren, CEO, +46 8 553 311 14
Jan Johansson, CFO, +46 70 575 89 72
Birgitta Henriksson, Acting Head of Investor Relations, +46 70 812 86 39

The above information is such that Eniro AB (publ) shall make public in accordance with the Securities Market Act and/or the Financial Instruments Trading Act. The information was published at 12.40 CET on 19 November 2010.

www.eniro.com

Eniro is the Nordic region’s largest search company. Both consumers and companies can use Eniro’s services to easily locate where to buy services and products – regardless of whether the channel is internet, catalog or mobile. Advertisers can actively market themselves to interested consumers, find new customers and increase sales. Better search means better business.

Eniro has 4,400 employees in the Nordic region and Poland and has been listed on Nasdaq OMX Stockholm since 2000. Headquarters are located in Stockholm, Sweden. More on Eniro at www.eniro.com.

About Us

Eniro is a search company that aggregates, filters and organizes local information. Our growth is driven by users’ increasing mobility and multiscreen behavior, where we are at the forefront with modern technical solutions. For more than 100 years Eniro has helped people find local information and companies find customers. Today it is a multiscreen solution – our users search for information using their smart phones, tablets and desktops. Mobile advertising is today the fastest growing part of Eniro’s business. Eniro is the local search engine. A smart shortcut to what you need, no matter where you are or where you are going. Eniro is one of the largest search companies in the Nordic region and Poland. The company has approximately 2,000 employees and has been listed on NASDAQ Stockholm since 2000. During 2014, Eniro revenues amounted to SEK 3,002m and EBITDA was SEK 631m. Approximately 88 percent of Eniro advertising revenues come from multiscreen channels. The company’s headquarters are located in Stockholm, Sweden. More on Eniro at www.enirogroup.com. Eniro – Discover local. Search local.

Subscribe