Tulikivi will recognise an EUR 0.5 million impairment loss in goodwill and change its profit guidance for 2018

As a result of impairment testing conducted in conjunction with the preparation of its financial statements, Tulikivi has decided to recognise an EUR 0.5 million impairment loss on goodwill in the Group’s balance sheet. The impairment loss concerns the goodwill generated by the acquisition of Kermansavi Oy in 2006.

The impairment loss has no impact on cash flow or on the indicators of the parent company Tulikivi Corporation.

The previous net sales and profit outlook was: For 2018, net sales are estimated to be approximately EUR 28.5 million and the operating profit is expected to be on the previous year’s level.

The new net sales and profit outlook is: For 2018, net sales are estimated to be approximately EUR 28.5 million and the operating profit is expected to be on the previous year’s level without the write-down.

TULIKIVI CORPORATION
Board of Directors

Additional information: Managing Director Heikki Vauhkonen tel. 0207 636 555