Metsä Tissue to book an impairment and restructuring provision of approximately EUR 107 million in total
May 22, 2019
FINLAND (News release) -- Metsä Tissue, part of Metsä Group, has updated its strategy. Strategy implementation includes an operational review with the target to improve internal efficiency, reduce complexity and focus on the tissue business.
As part of this operational review an impairment test according to IAS 36 has been conducted. As a result, the company will in the second quarter of 2019 book a mainly goodwill related impairment of approximately EUR 102 million. In addition, the company will book a restructuring provision of approximately EUR 5 million related to the ongoing and already completed co-determination negotiations.
These bookings have a weakening impact to Metsä Tissue's equity ratio of approximately 8 percentage points. Impact to the whole Metsä Group's equity ratio is minor.
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