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🇮🇸 Iceland /Economy & Trade

Coloplast writes down Kerecis value by 57 billion ISK

From Morgunblaðið · () Icelandic

Translated from Icelandic, summarized and contextualized by DistantNews.

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  • Danish company Coloplast has written down its goodwill related to Icelandic biotech firm Kerecis by 3 billion Danish kroner, equivalent to about 57 billion Icelandic kroner.
  • This significant write-down reflects reduced expectations for Kerecis's future growth and profitability.
  • The adjustment was detailed in the nine-month financial report of Coloplast, Kerecis's parent company.

Coloplast, a Danish medical technology company, has significantly reduced the book value of its investment in the Icelandic biotech firm Kerecis. The company announced a goodwill impairment of 3 billion Danish kroner, which translates to approximately 57 billion Icelandic kroner.

This substantial write-down indicates a considerable decrease in Coloplast's expectations for Kerecis's future growth and profitability. The adjustment stems from a reassessment of the value derived from the acquisition of Kerecis.

The financial adjustment was disclosed in Coloplast's nine-month financial report. The report details the company's performance and outlook, with the Kerecis impairment being a notable factor in its latest financial disclosures. The implications for Kerecis's operations and future development within the Coloplast group remain to be fully seen.

DistantNews Editorial

Originally published by Morgunblaðið in Icelandic. Translated, summarized, and contextualized by our editorial team with added local perspective. Read our editorial standards.

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