Atria: Comment – EUR 51m impairment in Sweden - Nordea

Atria records EUR 51m impairments in Sweden. High inflation affecting consumer behaviour, the exit of fast food operations in Russia, and increased market interest rates have weakened the present value of Atria Sweden's cash flow forecasts. Atria writes down goodwill of Atria Sweden by EUR 35m. In addition, according to its strategy, the company has decided to intensify the use of brands and to end the support of four brands, causing write down of the brands by EUR 16m. We calculate that write downs will have approximately 4.9 pp negative impact on equity ratio (48.9% in Q3). The write-downs will jave no impact on cash flow nor on adjusted EBIT.

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