Write-down of goodwill and intangible assets in Cabonline´s half year report 2019
An impairment test in Cabonline has resulted in a non-cash charge of goodwill and intangible assets amounting to approximately 125 MSEK referring to the business in Finland. The goodwill and the intangible assets originate from the acquisition of Kovanen, Maankan Taksi and Inva-Taksi in Finland during 2017.
The write-down has no cash flow effect, however it has a negative impact on reported Operating income for the second quarter 2019 in segment Finland. The write-down is due to that the adjustment of the business is expected to take longer time than earlier foreseen. The long-term strategy regarding the presence and growth in Finland following the deregulation of the market in July 2018 remains. The amount is unaudited and the final number will be published in the Interim report January - June 2019.
Olof Fransson, CFO tel +46 70 517 20 22
This information is information that Cabonline Group Holding AB (publ) 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 18:00 CET on August 12, 2019.
About Cabonline Group
Cabonline Group is a leading technology and service provider for the taxi industry in the Nordics. In Sweden, Finland, Norway and Denmark, around 3,000 transporters are connected with approximately 5,700 vehicles under different brands, including TaxiKurir, Norgestaxi, TOPCAB, Kovanen, Taxi Skåne, Taxi Väst, Umeå Taxi, Sverigetaxi and Taxi 4x27. Through Cabonline Group, the transporters get attractive customer agreements, industry-leading technology as well as access to large scale advantages and infrastructure. Cabonline Group has a turnover of approximately 6.2 billion SEK and performs over 50,000 journeys every day. For more information www.cabonlinegroup.com.