Helsinki, Finland, 2013-12-19 08:00 CET (GLOBE NEWSWIRE) --
Lassila & Tikanoja plc Stock exchange release 19 December 2013 9.00 am
Lassila & Tikanoja is recognising a total of EUR 7.0 million in impairment of goodwill in its Swedish business operations in the fourth quarter. In the Group, the impairment is allocated to the Facility Services division.
The impairment is due to the decrease in yield expectations in Swedish operations, particularly in the Öst-Göta region.
After the impairment loss, the amount of goodwill remaining in the Group’s balance sheet totals about EUR 3.5 million in relation to Swedish operations.
The impairment is treated as a non-recurring cost with no cash flow effect. Guidance on full-year net sales and operating profit excluding non-recurring items remains unchanged.
LASSILA & TIKANOJA PLC
Pekka Ojanpää
President and CEO
For additional information, please contact
Timo Leinonen, CFO, tel. +358 400 793 073.
Lassila & Tikanoja is a service company that is transforming the consumer society into an efficient recycling society. In co-operation with our customers we are reducing waste volumes, extending the useful lives of properties, recovering materials and decreasing the use of raw materials and energy. We help our customers to focus on their core business and to save the environment. Together, we create well-being and jobs. With operations in Finland, Sweden, Latvia and Russia, L&T employs 9,000 persons. Net sales in 2012 amounted to EUR 674.0 million. L&T is listed on NASDAQ OMX Helsinki.
Distribution:
NASDAQ OMX Helsinki
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www.lassila-tikanoja.com