Oslo, 27 April 2023 - Adevinta ASA today released its 2022 Annual Report, available here. A printed copy may be obtained free of charge upon written request to: email@example.com.
Details regarding impairment related to Brazil (Silver Brazil JV)
In the annual report Adevinta has reported an impairment loss of €(80) million of the investment in the joint venture for Brazil (Silver Brazil JV). This is mostly attributable to the revised growth trajectory of the business, accompanied by rising interest rates, increasing the weighted average cost of capital used for the impairment testing. Consequently, this contributed to a decrease in the share of profit of joint ventures and associates over the period from €(8) million in 2021 to €(121) million in 2022.
Adevinta has revised its FY 2022 figures reported in the Q4 2022 interim report published on 23 February 2023 to reflect the recognition of the impairment loss as outlined above. Details can be found in note 33 to the consolidated financial statements (p.181 of the annual report).