Finnlines Plc's German subsidiary pays a dividend and an impairment is made on the value of its shares

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| Source: Finnlines
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Helsinki, Finland, 2013-12-31 11:30 CET (GLOBE NEWSWIRE) -- 31 December, 2013

Finnlines Plc recognizes in its financial statements for the year 2013 an impairment loss of EUR 48.0 million on the shares of Finnlines Deutschland GmbH.  Finnlines Deutschland GmbH’s EUR 48.0 million dividend distribution to the Parent company, Finnlines Plc, results in a EUR 48.0 million impairment because it represents a large amount of the value of the shares of Finnlines Deutschland GmbH on the Finnlines Plc’s accounts.

The impairment  and the intra group dividend distribution have no effect on Finnlines Group’s result for the year 2013 and its consolidated balance sheet and it has no effect on Finnlines Plc’s result for the period. The impairment loss is treated as a non-recurring expense and it does not have a cash flow effect.

 

Tom Pippingsköld                     Tapani Voionmaa
CFO                                          Group General Legal Counsel