Ratos takes SEK 1.7bn hit to portfolio

Around SEK 1.1bn of the impairment was attributable to the GP's investment in Norwegian oil & gas services company Aibel, which has seen substantial strain on its performance as a result of the oil price downturn affecting the North Sea oil & gas sector.

Ratos expects the total impairment to goodwill and shares on the book value of its companies will total SEK 1.7bn, driven by adverse conditions in its holdings in Aibel, AH Industries, Biolin Scientific, Euromaint and Jøtul. The final impairment total will be specified in the GP's Q3 report and charged to the Ratos Group's earnings.

Acting CEO of the buyout house, Lars Johansson, said the adjustment in book value was due to some of the GP's companies "operating under tough market conditions and showing a weak earnings trend". In a statement, Johansson said the impairment would not affect the full-year forecasts for Ratos's portfolio companies' operative earnings trend.

Earlier this year, Ratos CEO Susanna Campbell was fired after an extended period of poor performance by the listed buyout firm.

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Send to  

• Topics
• Performance
• GPs
• Nordics
• Ratos Holding
• Sweden