NNIT A/S: Disclosure of corrective information to NNIT’s annual report for 2021, including comparative numbers for 2020

By Globe Newswire Published on March 16, 2023, 02:49 IST

With reference to company announcement 2/2023, stating the Danish Business Authority’s final decision on NNIT’s accounting treatment of an earn out payment related to the acquisition of Excellis Health Solutions, NNIT hereby publishes supplemental/corrective information to the annual report for 2021, including comparative numbers for 2020.

The technical changes to historical accounting policies have no impact on total cash flow or the planned divestment of NNIT’s Infrastructure Operations Business.

As previously stated, NNIT A/S disagrees with the decision and considers it to be of principled nature for strategic acquisitions in the Danish IT service industry. NNIT has strong arguments as to why this is an erroneous decision, and an appeal of the decision has been lodged to the Danish Commerce and Companies Appeals Board. The average processing time for appeals is currently 5 months.

Contact for further information

Carsten Ringius
EVP & CFO
Tel: +45 3077 8888
[email protected]

Media relations:
Tina Joanne Hindsbo
Media Relations Manager
Tel: +45 3077 9578
[email protected]

The NNIT Group provides a wide range of IT and consulting services internationally. In Denmark, where the Group HQ is based, we are one of the leading IT companies, servicing both private and public sector customers across all industries. In the rest of Europe, Asia and USA, we are solely focused on companies within life sciences.

Supporting the entire supply chain, we help optimize internal company processes, production, sales and customer experiences:

We advise, build, operate and support, enabling digital transformation and customers to reap the full potential of their organizations. Our role is to foster innovation and make the mark our customers and we aspire to.

The NNIT Group consists of group company NNIT A/S and subsidiaries SCALES, Excellis Health Solutions and SL Controls. Read more at www.nnit.com.

Attachments

4_2023 Company Announcement
150323 Company announcement_restated financials

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