Inside information: Atria records approximately EUR 51 million impairments in Sweden

Atria Plc, company announcement, inside information, 20 December 2022, at 2.30 pm

Inside information: Atria records approximately EUR 51 million impairments in Sweden

High inflation affecting consumer behaviour, the exit of fast food operations in Russia, and increased market interest rates have weakened the present value of Atria Sweden's cash flow forecasts. Atria Sweden's cash flow forecasts have previously included Sibylla Rus LLC, which operated in Russia. The market interest rates included in the discount rate used to calculate the present value of the forecasted cash flows have increased by approximately 2 percentage points. Due to the above-mentioned reasons, Atria writes down goodwill of Atria Sweden by approximately 35 million euros.

In addition, according to its strategy, Atria Sweden has decided to intensify the use of brands and to end the support of four brands (Charkdelikatesser, Pastejköket, Onsala, Lagerbergs) and to move most of the products of these brands under the growing Lönneberga and Lithells brands. As a result of the decision, Atria writes down the value of the brands by approximately 16 million euros.

The write-downs will have no impact on cash flow nor on adjusted EBIT.

For further information, please contact Juha Gröhn, CEO of Atria Plc, tel. +358 400 684 224.

ATRIA PLC
Juha Gröhn
CEO

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