Alma Media Corporation Stock Exchange Release 18.12.2015, at 2:30 p.m. (EET)
THE OUTCOME OF ALMA MEDIA CORPORATION’S IMPAIRMENT TESTS
Alma Media has completed its regular annual goodwill impairment tests for the Group. As a result, in its consolidated financial statements, the company will recognise EUR 1.6 million in impairment in the fourth quarter of 2015. The write-down made to goodwill and intangible assets is mainly related to newspaper business in Lapland and digital consumer services in Finland.
The write-down will be reported in Alma Media’s fourth quarter financial result as a non-recurring item. Alma Media will publish its financial review of the fourth quarter and of the full year 2015 on 12 February 2016. The company maintains its outlook given in the interim report published on 23 October 2015, according to which it expects its revenue to decrease in 2015 and operating profit excluding non-recurring items to remain unchanged or decrease from the 2014 level.
At the same time, Alma Media writes down the book value of the shares of its subsidiaries by EUR 84.3 million in the separate financial statements of the parent company, Alma Media Corporation. In the financial statements of 31 December 2014, the shareholders’ equity of the parent company, Alma Media Corporation, was EUR 349.9 million and distributable funds EUR 179.9 million. This means that Alma Media will have distributable funds in its 2015 financial statements even after the write-down to be recorded for the parent company.
ALMA MEDIA CORPORATION
Vice President, Corporate Communications and IR
For more information, please contact:
Juha Nuutinen, CFO, Alma Media Corporation, tel. +358 50 438 0984