Trainer's House Oyj - Company Announcement

Trainers' House writes down EUR 14.4 million of goodwill

Espoo, Finland, 2011-01-25 08:45 CET (GLOBE NEWSWIRE) -- TRAINERS' HOUSE PLC,
STOCK EXCHANGE RELEASE, 25 JANUARY 2011 AT 09:45 

The board of directors of Trainers' House Plc has decided on 25 January 2011 on
a goodwill write-down amounting to approximately EUR 14.4 million. 

The board of directors has estimated that the continuing operations will in the
future remain clearly profitable. However, the board of directors has decided
to lower the estimates of the profitability and growth of sales used in the
impairment testing. As a result of updated impairment testing the board of
directors has resolved, that of the goodwill booked in connection with the
merger of Satama Interactive Plc and Trainers' House Oy, a total of
approximately EUR 14.4 million will be written down. The medium-term operative
targets of the company remain unchanged. 

After this write-down Trainers' House Plc's group balance sheet has
approximately EUR 25.8 million of goodwill. 

The write-down does not have any effect on company's cash flow or its operative
business. The shareholders' equity in the group balance sheet as of 30
September 2010 was EUR 50.3 million. The depreciation will reduce the
shareholders' equity. The depreciation will be booked as a non-recurring item
in the financial statements of 2010. 

As announced earlier, Trainers' House Plc's financial statements for the year
2010 will be published on 17 February 2011 at 8:30 am. 



TRAINERS' HOUSE PLC

BOARD OF DIRECTORS

FURTHER INFORMATION
Aarne Aktan, tel +358 40 774 0204
Chairman of the Board

DISTRIBUTION
OMX Nordic Exchange, Helsinki
Main media
www.trainershouse.fi > Investors

Attachments:

Pörssitiedote 25.1.2011 eng.pdf