Impairment recognised for Eniro’s deferred tax assets and intangible assets in the third quarter, early publishing of interim report January – September 2019

At its meeting today, the Board of Directors of Eniro AB decided to recognise impairment pertaining to deferred tax assets and intangible assets in Eniro of SEK -475 million. The non-cash impairment will be charged to earnings for the third quarter of 2019.

For the third quarter, Eniro’s operating income totalled SEK -526 million, which included impairment of the carrying amount of goodwill and deferred tax assets amounting to a total of SEK -475 million. The impairment has no impact on cash flow.

Comments on impairment testing contained in the 2018 annual report made it clear that the possibility of further impairment being recognised could not be ruled out if Eniro’s transformation did not follow the plan on which the impairment test was based. Considering the Group’s earnings performance, the increased complexity entailed by the new rules limiting interest deductions, and taking into account projections and business plans prepared in the third quarter, the Board has decided on an additional SEK 306 million impairment of goodwill and a SEK 169 million impairment of deferred tax assets, which in turn reduces the Parent Company’s and Group’s shareholders’ equity.

Given the Board’s decision to recognise impairment of goodwill and deferred tax assets, the January – September 2019 interim report is being published later today, 28 October 2019, instead of the announced publication date 29 October 2019.

See the January – September 2019 interim report on the company’s website www.enirogroup.com.

For further information, please contact:

Magdalena Bonde, CEO, Tel. +46  8 553 310 00, magdalena.bonde@eniro.com

Anne Langbraaten, CFO, Tel. +46 8 553 310 00, anne.langbraaten@eniro.com

This information is information that Eniro AB 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 19.30 CET on 28 October 2019.

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, 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.

This translation is for convenience only.