There will be a write-down of approximately EUR 18 million on the balance sheet, so the cash inflow is only EV=EUR 3 million, with a potential earn-out of EUR 2 million later. This means Sitowise’s debt will hardly decrease, but EBITDA will rise significantly since the Swedish operations have been making such large losses; therefore, Net Debt/EBITDA will strengthen through this channel. I aim to crunch the numbers for you by tomorrow, even though the company mentioned they would release more detailed restated figures later.
3 Likes