Impairment of book values of goodwill in Eniro AB and report for the fourth quarter and the full year 2018

At its meeting today, the Board of Directors of Eniro AB has resolved to conduct impairment of the book values ​​of goodwill totaling approximately SEK -565 million. The non-cash flow impairment is charged to earnings in the fourth quarter of 2018. Today, Eniro also publishes its report for the fourth quarter of 2018 and the full year 2018.

Eniro's operating income for the fourth quarter amounts to SEK -565 million, which includes impairment of the book values ​​of goodwill of SEK -565 million. The impairment has no cash flow effect.

Testing of the value of all of the Group’s intangible assets is conducted annually or when indications of significant changes in assumptions have been identified. In conjunction with the work on its 2018 financial statements, the company conducted an impairment test of the carrying amount of the Group’s operating assets, including goodwill, which resulted in today’s Board of Directors resolution. The analysis includes, among other, an estimated shift in future cash flows from operating activities.

Considering the Board's decision of goodwill impairment, the report for the fourth quarter and full year 2018 will be published today on February 11, 2019, instead of the pre-announced reporting date on February 12, 2019.

The year-end report will be available at Eniro’s website www.enirogroup.com. 

For more information, please contact:

Örjan Frid, CEO Eniro, Tel 08-553 310 00 

Hassan Tabrizi, CFO, Tel 08-553 310 00

Denna information är sådan information som Eniro AB (publ) är skyldigt att offentliggöra enligt EU:s marknadsmissbruksförordning. Informationen lämnades, genom ovanstående kontaktpersons försorg, för offentliggörande den 11 februari 2019 klockan 21.45 CET. 

Eniro är ett ledande sökföretag för personer och företag i Norden. Eniro Group har omkring 1 100 anställda. Bolaget är noterat på Nasdaq Stockholm [ENRO], med f.n. ca 14 000 aktieägare och har sitt huvudkontor i Kista, Stockholm. Mer om Eniro på enirogroup.com, twitter.com/eniro, facebook.com/eniro.  

This press release is available in English at www.enirogroup.com/en/press-releases. 

About Us

Eniro is a Nordic tech company that helps small and medium-sized companies with digital marketing. Eniro also has a search service that aggregates, filters and presents information to help individuals find and come into contact with each other and with companies. The company has about 1,100 employees and operates in Sweden, Norway, Denmark and Finland through the local domains eniro.se, gulesider.no, krak.dk and degulesider.dk, and Each week, Eniro Group’s digital services have about 5.2 million unique visitors. Eniro is listed on Nasdaq Stockholm [ENRO] and its head office is located in Stockholm.

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