Sanoma Corporation, Stock Exchange Release, 4 December 2012 at 13:30 CET+1
The Group-wide impairment tests have been finalised. As a result, Sanoma has decided to make non-cash goodwill and other intangible asset impairment charges in other cash generating units of EUR 11.6 million and EUR 6.0 million in the strategic business unit Sanoma Media Russia & CEE.
The total impairment charge of EUR 17.6 million will be reported in Sanoma’s fourth quarter consolidated financial statements, and classified as non-recurring items, with no effect on cash flow. The charges are based on long-term assessments, and not specifically related to the short-term performance of the respective business unit.
Goodwill impairment tests for local statutory purposes are still on-going and will be finalised during the fourth quarter. These tests will not have an additional impact on Group’s financials.
Additional information
Sanoma's Investor Relations, Martti Yrjö-Koskinen, tel. +358 40 684 4643 or ir@sanoma.com
Sanoma.com
Sanoma inspires, informs and connects. Sanoma is a leading European group with a focus on consumer media and learning. We bring information, experiences, education and entertainment to millions of people every day. We employ nearly 11,000 professionals in some 20 countries. In 2011, the Group’s restated net sales totalled EUR 2.4 billion. Sanoma shares are listed on the NASDAQ OMX Helsinki.