The Danish Business Authority has conducted a compliance overview of NNIT A/S’ annual studies.
Based on the compliance overview, the Danish Business Authority has indicated that the earn out cost associated to the acquisition of Excellis Health Solutions shouldn’t be included in capitalized acquisition prices and goodwill, however as an alternative expensed as remuneration in accordance with IFRS 3, part B55(a), because the earn out partially is topic to the promoting shareholders’ continued employment in the course of the accrual interval.
If the Danish Business Authority decides in accordance with its indications, NNIT will likely be required to replace its accounting therapy of earn-out cost within the annual studies from goodwill to particular gadgets for 2017-2025 and a related method would additionally must be utilized to the popularity of earn out for different acquisitions, together with SCALES, Valiance Partner, HGP Group, SL Controls and prime4services.
Such technical adjustments to historic accounting insurance policies could have no impression on whole money circulation.
NNIT is at present in a dialogue with the Danish Business Authority and awaits the ultimate consequence of such discussions. The ultimate consequence of the discussions with the Danish Business Authority is predicted to be communicated as quickly as the ultimate resolution from the Danish Business Authority is out there.
Contact for additional data
Pernille Fabricius
EVP & CFO
Tel: +45 3077 9500
[email protected]
Tina Joanne Hindsbo
Media Relations Manager
Tel: +45 3077 9578
[email protected]
The NNIT Group supplies a big selection of IT and consulting companies internationally.
In Denmark, the place the Group HQ is predicated, we’re one of many main IT corporations, servicing each personal and public sector clients throughout all industries. In the remainder of Europe, Asia and USA, we’re solely centered on corporations inside life sciences.
Supporting the complete provide chain, we assist optimize inside firm processes, manufacturing, gross sales and buyer experiences:
We advise, construct, function and assist, enabling digital transformation and clients to reap the complete potential of their organizations. Our function is to foster innovation and make the mark our clients and we aspire to.
The NNIT Group consists of group firm NNIT A/S and subsidiaries Valiance, SCALES, Excellis Health Solutions, SL Controls, and prime4services. Read extra at www.nnit.com.
- 12_2022 Company Announcement
