Everysport
Everysport Group completes strategic review of padel facility business with positive net effect and profit improvement of SEK 1.5 million
"With today's announcement, we are finalizing the strategic review of the Padel facilities business. The result means a significant improvement in the Group's financial position and outlook. We can now re-focus on our core business in sports technology and sports media", says Hannes Andersson, CEO of Everysport Group.
The final phase of the strategic review means that Everysport Group has divested the remaining padel facilities in Stockholm, Kista and Gothenburg, Åby to a company within the same group as the two existing landlords. The purchase price amounts to a total of SEK 25 thousand and the transaction is completed immediately with retroactive closing as of 31 March 2024.
In addition, the Everysport Group fulfilled its obligations under the agreement signed in connection with the divestment of 80 percent of the shares in Uppsala Padelcenter AB earlier than expected through a capital contribution of SEK 2.4 million. In connection with the transaction, the majority owner of Uppsala Padelcenter has also undertaken to make a capital contribution.
In total, the final phase of the strategic review will result in a positive net effect and earnings improvement of approximately SEK 1.5 million in the first quarter of 2024, primarily as a result of the divested rental agreements in accordance with IFRS 16.
With today's announcement, Everysport Group has successfully divested its entire portfolio of padel facilities, thus concluding the strategic review of the facility operations. However, the Group remains a minority owner in Uppsala Padelcenter AB with a 20 percent stake.
For more information, please contact:
Hannes Andersson, CEO, Everysport Group AB
Phone: +46 70 736 56 25
E-mail: hannes.andersson@everysport.com
About Everysport Group AB (publ)
Everysport Group is a leading Swedish company that develops digital platforms and services within sports tech and sports media. The Group's flagship product, Elite Prospects, is a globally leading hockey platform with over 22,000 paying subscribers and 1.5 million unique visitors per week. Everysport Group is headquartered in Stockholm with a local presence in the US. The Group is listed on Spotlight Stock Market with the ticker "EVERY".
For more information, please visit www.everysportgroup.com
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This disclosure contains information that Everysport Group AB is obliged to make public pursuant to the EU Market Abuse Regulation (EU nr 596/2014). The information was submitted for publication, through the agency of the contact person, on 02-04-2024 16:19 CET.
| Datum | 2024-04-02, kl 16:19 |
| Källa | Cision |
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