Turku, Finland, 2017-07-14 08:00 CEST (GLOBE NEWSWIRE) —
TELESTE CORPORATION STOCK EXCHANGE RELEASE 14.7.2017 AT 09:00
PROFIT WARNING: TELESTE RECORDS A GOODWILL IMPAIRMENT AND A RESTRUCTURING PROVISION FOR THE SERVICES BUSINESS IN GERMANY AMOUNTING TO A TOTAL OF EUR 9.3 MILLION AND CHANGES ITS FINANCIAL OUTLOOK FOR 2017
Due to the negative profitability development in the services business in Germany, Teleste makes EUR 7.7 million impairment in the goodwill which will be reported in Telestes half year financial report. This will not affect the Groups cash flow.
Teleste has also recorded a provision to cover the costs related to the restructuring of the services business in Germany. The provision amounts to EUR 1…
Read the full article at: https://globenewswire.com/news-release/2017/07/14/1046926/0/en/Profit-warning-Teleste-records-a-goodwill-impairment-and-a-restructuring-provision-for-the-services-business-in-Germany-amounting-to-a-total-of-EUR-9-3-million.html