• news.cision.com/
  • Biacore/
  • Financial Implications of Biacore’s Headquarters and Operations Returning to Uppsala, Sweden

Financial Implications of Biacore’s Headquarters and Operations Returning to Uppsala, Sweden

Report this content

Uppsala, Sweden, June 30, 2005. Biacore International AB (SSE: BCOR) announces today that negotiations have been concluded with the local Swiss authorities regarding the financial implications related to the return of Biacore’s Corporate Headquarters and operations to Uppsala, Sweden, from Neuchâtel in Switzerland. The result of these negotiations will positively impact the Group’s net income in 2005, and its cashflow over the course of approximately the next five years. In conjunction with the return of Biacore’s Corporate Headquarters to Uppsala, Biacore AB purchases certain assets, valued by a third party, from the Swiss company, Biacore International SA. Biacore AB will write off these assets over the course of approximately the next five years. This write-off will result in a tax credit totalling about SEK 110 million. In 2005, the impact of this asset transfer between Biacore AB and the Swiss company and its subsequent write-down will be accounted for via a one-off tax credit that will lead to an increase of the Group’s net income in 2005 of about SEK 110 million or about SEK 11 per share. The impact of this transaction will be included in Biacore’s Half-Year Report which will be released on July 19, 2005. For further information, please contact: Erik Walldén, President and CEO Tel +46 18 675700: +46 70225 2270 Lars-Olov Forslund, CFO Tel +46 18 675700; +46 70225 2727

Documents & Links