Trainer's House Oyj - Company Announcement

TRAINERS’ HOUSE WRITES DOWN EUR 4.5 MILLION OF GOODWILL

Espoo, 2013-08-01 07:30 CEST (GLOBE NEWSWIRE) -- TRAINERS' HOUSE PLC, STOCK
EXCHANGE RELEASE, 1 AUGUST 2013 AT 8:30 

The board of directors of Trainers' House Plc has decided on 31 July 2013 on a
goodwill write-down amounting to approximately EUR 4.5 million. 

The Board of Directors of the company decided to lower the estimates on the
profitability and growth of net sales in the training business used in
impairment testing. As a result, the Board of Directors resolved that a total
of EUR 4.5 million of the Group's goodwill will be written down based on the
impairment testing. This write-down has no effect on operating profits or cash
flow. The depreciation will be booked as a non-recurring item in the financial
statements of 2013. The write-down will reduce the shareholders' equity. 

After this write-down, the Group balance sheet has EUR 4.6 million of goodwill.


TRAINERS' HOUSE PLC

BOARD OF DIRECTORS

Further information:
Aarne Aktan, tel +358 40 342 4440
Chairman of the Board

DISTRIBUTION
Nasdaq OMX Helsinki
Main media
www.trainershouse.fi > Investors

Attachments:

Porssitiedote liikearvon alaskirjauksesta ENG.pdf