Softing AG Declares Goodwill Impairment: What It Means for the Stock

• Softing AG expects to recognize impairment losses on goodwill in the amount of EUR 7.0 million to EUR 9.0 million at the end of 2023.
• The impairment is due to the restructuring of the organization in the IT Networks segment and the adjustment of the sales approach in the GlobalmatiX segment.
• The impairment will have a negative impact on consolidated EBIT and consolidated net income for the 2023 financial year.
• Softing AG expects a consolidated EBIT of EUR -1.0 million to EUR -2.5 million for the 2023 financial year.
• The final adjustments will be made when the consolidated financial statements as of December 31, 2023 are prepared.
• The impairment will not affect Softing's main performance indicators such as operating Group EBIT, Group EBITDA, and Group's cash flow.

The price of Softing at the time of the news was 5,5000EUR and was down -6,78 % compared with the previous day.
14 minutes after the article was published, the price was 5,1000EUR this corresponds to a minus of -7,27 % since publication.

Softing

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+0,47 %

-4,93 %

-5,78 %

-26,64 %

-0,38 %

-34,97 %

-63,72 %

-70,88 %

ISIN:DE0005178008WKN:517800

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