Nurminen Logistics records a non-recurring deferred tax asset, which increases the profit for the financial year by approximately EUR 7.4 million
Nurminen Logistics Plc Nurminen Logistics Plc Stock Exchange Release November 11, 2021, at 4.00 p.m.
Nurminen Logistics Plc's Board of Directors has decided to change the accounting policy for deferred tax assets so that a non-recurring deferred tax asset of the previous years’ allowable losses confirmed by the Tax Administration is recognized in the balance sheet. The company has not previously recognized any deferred tax assets arising from losses, as the recognition requirements under IFRS have not been met. The non-recurring entry increases the profit for the financial year by approximately EUR 7.4 million. The company estimates that the deferred tax asset to be recognized will be used by the end of 2023.
In its half year financial report on 6 August 2021, Nurminen Logistics announced that the business had developed positively during the first half of 2021. On 15 September 2021, Nurminen Logistics also announced its strategic goals and medium-term financial goals. Taking into account the development conditions of the business, Nurminen Logistics' Board of Directors estimates that the company's result will develop in such a way that the deferred tax assets will be utilized.
In addition to the approximately EUR 7.4 million to be capitalized, the company has a total of approximately EUR 2.5 million in unrecognized tax assets, for which the balance sheet recognition conditions are reviewed on an annual basis.
Nurminen Logistics Plc
For more information, please contact Olli Pohjanvirta, President and CEO, Nurminen Logistics Plc, tel. +358 40 900 6977, firstname.lastname@example.org
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