Brief: Albert Restructures Subsidiary Kids Mba And Writes Down Intangible Assets

eEducation Albert AB

02/10/2024 13:37

Oct 2 (Reuters) - eEducation Albert AB  ALBERT.ST :
    * ALBERT RESTRUCTURES SUBSIDIARY KIDS MBA AND WRITES DOWN
INTANGIBLE ASSETS
    * RESTRUCTURING INCLUDES REDUCTION IN PERSONNEL, MARKETING
ACTIVITIES
    * FOR FULL YEAR 2025, THIS IS EXPECTED TO LEAD TO A
REDUCTION IN
NET REVENUES OF ABOUT 5 MILLION SEK
    * MEASURES NOT EXPECTED TO HAVE ANY IMPACT ON GROUP'S EBITDA
FOR
Q4
    * AS A CONSEQUENCE OF THIS DECISION, A NON-CASH IMPAIRMENT
OF
EXCESS VALUES IN GROUP AMOUNTING TO 16 MILLION SEK WILL ALSO BE
CARRIED OUT
    * THESE WRITE DOWNS WILL BE CARRIED OUT IN Q3
    * FOR FULL YEAR 2025 THIS IS EXPECTED TO LEAD TO A REDUCTION
IN
PERSONNEL AND EXTERNAL COSTS OF ABOUT 13 MILLION SEK, WHICH
TOGETHER ARE EXPECTED TO IMPROVE EBITDA BY 8 MILLION SEK

Source text for Eikon:  ID:nMFN21CZZ3 
Further company coverage:  ALBERT.ST 

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