EQS-Adhoc: Smartbroker Holding updates scope of expected extraordinary impairment charges related to the development of Smartbroker 2.0
EQS-Ad-hoc: Smartbroker Holding AG / Key word(s): Product Launch
Smartbroker Holding updates scope of expected extraordinary impairment charges related to the development of Smartbroker 2.0
09-March-2023 / 12:23 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by EQS News - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014
Smartbroker Holding updates scope of expected extraordinary impairment charges related to the development of Smartbroker 2.0
In an ad hoc announcement dated 5 December 2022, Smartbroker Holding AG (the "Company") announced that the new version of its online broker, Smartbroker 2.0, would be operated in cooperation with Baader Bank. This resulted in the need for adjustments to the structure of the platform, which entailed one-time impairment charges.
In the course of the project, the technical setup was further refined, following the review of all platform elements. Against this background, the Company now expects one-time non-cash impairment charges in relation to capitalized development costs in the total amount of approximately €13 million. The impairment charges mainly relate to external service providers, all of whom are no longer involved in the implementation of the project.
Notifying person: André Kolbinger, CEO
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1578831 09-March-2023 CET/CEST