Brief: Stockmann Updates 2020 Guidance, Flags Lindex Impairment For Q4

Lindex Oyj

29/01/2021 07:06

Jan 29 (Reuters) - Stockmann Oyj Abp  STCBV.HE :
    * ON THURSDAY ANNOUNCED OUTCOME OF IMPAIRMENT TEST FOR
LINDEX AND
UPDATED 2020 GUIDANCE
    * BOOK VALUE OF LINDEX'S INTANGIBLE ASSETS ADJUSTED TO EUR
368
MILLION DUE TO COVID-19 PANDEMIC
    * WILL RECOGNISE ABOUT EUR 250 MLN IN IMPAIRMENT RELATED TO
LINDEX'S GOODWILL IN ITS Q4 INCOME STATEMENT
    * DESPITE PROFITABLE Q4 AND ROBUST PERFORMANCE OF LINDEX, FY
OPERATING RESULT WILL BE SLIGHTLY LOSS-MAKING
    * REVENUE FOR 2020 WILL BE ON LOWER LEVEL THAN IN PREVIOUS
YEAR
    * PREVIOUS GUIDANCE: REVENUE FOR 2020 WILL BE ON LOWER LEVEL
THAN
PREVIOUS YEAR AND OPERATING RESULT WILL BE LOSS-MAKING

    
    
 Source text for Eikon:  urn:newsml:reuters.com:*:nWkr113bY7
 Further company coverage:  STCBV.HE  
   


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