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Impairment of intangible assets and postponement of the report regarding the first quarter of 2020

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TRANSLATION FOR CONVENIENCE PURPOSES ONLY

Eniro, like many others, has noticed the effects of the Covid-19 pandemic. The customer segment that Eniro is addressing is small and medium-sized companies, which were immediately hit hard. This in turn has had a negative impact on Eniro's new sales. In addition, projects that were a prerequisite for previous plans have now been postponed.

Together, the changed conditions and assumptions have resulted in a write-down of goodwill of SEK 600 million. Eniro AB’s, the parent company, value of shares in subsidiaries has also been written down by SEK 648 million. The subsequent write-down means that Eniro AB’s equity is negative. Eniro AB has prepared a control balance sheet and the first control meeting will be held in conjunction with the company's Annual General Meeting on June 16, 2020.

Due to the ongoing corporate restructuring of Eniro AB, the Board has decided to postpone the publication of the quarterly report regarding the first quarter of 2020.

 

For more information, please contact:

Arne Myhrman, Chairman of the board of directors, tel 073-383 64 67

Magdalena Bonde, Group President and CEO, tel 08-553 310 00, magdalena.bonde@eniro.com

Anne Langbraaten, Group CFO, tel 08-553 310 00, anne.langbraaten@eniro.com

This information is information that Eniro AB (publ) is obliged to make public pursuant to EU market abuse regulation. The information was submitted for publication, through the contact persons above, on 6 April 2020 at 16.00 CET.

Eniro is a Nordic 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 1 000 employees and operates in Sweden, Norway, Denmark and Finland through the local domains eniro.se, gulesider.no, krak.dk and degulesider.dk. Each week, Eniro Group's digital services have about 4,8 million unique visitors. Eniro is listed on Nasdaq Stockholm [ENRO] and its head office is located in Stockholm.

This translation is for convenience only.

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