Goodtech

Regulatory Filings • Jul 1, 2024

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

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

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