Goodtech announces the sale of its properties on Åland in accordance with previously announced plan

01 Jul 2024 08:06 CEST

Goodtech is pleased to announce the sale of its property on Åland as part of its
strategic decision to divest its ownership in its subsidiary Goodtech
Environmental Solutions AB (GESAB). ,The transaction – together with the
previously completed sale of Goodtech’s organisation at Åland to NCC in 2023,
marks an important step towards the complete exit of the operations at Åland,
and supports the focus on core business operations within industrial automation
and digitalisation.

The decision to sell Goodtechs business on Åland has been driven by Goodtech's
commitment to concentrate its resources and expertise on its core business
areas, which no longer encompasses the ownership and operations of buildings,
nor civil construction contracts within wastewater treatment plants, biogas and
sewage treatment.

Since the decision to discontinue the business on Åland, GESAB has been
classified as held for sale and discontinued operations in accordance with IFRS
5. After the transaction, Goodtech will still own 100% of the shares in GESAB,
where the remaining project portfolio remains classified as held for sale .

The transaction marks an important milestone in the company’s strategic roadmap,
representing a significant step for Goodtech towards a more agile and focused
organization within automation, digitalisation and robotisation.

“It has been clear for a while that GESAB is no longer part of the long-term
strategy of Goodtech, and thus we are very happy that we with this transaction
is one step closer to our planned complete exit of Åland. We have found a
suitable buyer with exciting plans for the premises, and at an agreeable price”,
commented Margrethe Hauge.

The total value of the transaction is approx. 1,8 MEUR, and the transaction will
be completed by 31.07.2024.

For media inquiries, please contact:

Margrethe Hauge, CEO Goodtech ASA
Phone: +47 957 96 920
Email: Margrethe.hauge@goodtech.no

Øyvind Osjord, CFO Goodtech ASA
Phone: +47 950 46 649
Email: oyvind.osjord@goodtech.no

More information:
Access the news on Oslo Bors NewsWeb site