Luxembourg, 3 February 2014 – After finalizing the impairment test for 2013, Transcom has decided to record a €21.1 million non-cash goodwill impairment charge related to the Credit Management Services (CMS) business unit. The charge will be recorded in Transcom’s fourth quarter 2013 consolidated financial statements. Following this impairment charge, Transcom’s total goodwill carrying value will amount to €111.1 million. Out of this amount, €21.9 million is allocated to the CMS business unit.
The impairment is a non-recurring, non-cash charge to earnings. It will not affect Transcom’s liquidity, cash flow or bank covenants, or have any impact on future operations. The charges are based on long-term assessments, and not specifically related to the short-term performance of the business unit.
For further information, please contact:
Johan Eriksson, President and CEO
Telephone +46 70 776 80 22
Pär Christiansen, CFO
Telephone +46 70 776 80 16
Stefan Pettersson, Head of Group Communications
Telephone +46 70 776 80 88