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BRIEF-Enea sees potential negative royalty impact of 20-30 mln SEK in 2017
May 2, 2017 / 8:30 AM / in 6 months

BRIEF-Enea sees potential negative royalty impact of 20-30 mln SEK in 2017

May 2 (Reuters) - Enea

* Enea informs about increased financial significance of dispute with larger customer

* Says dispute has subsequently extended to now also include a one-sided price reduction that customer is introducing

* Based on the latest royalty report from the customer, the financial impact of the unilaterally introduced price cut is now growing

* The discrepancy between agreed price and the lower price the customer unilaterally is applying, was previously of limited financial significance but now represents a negative difference of more than 6 mln SEK in royalty for the second quarter of 2017 and is estimated to potentially reach between 20 and 30 mln SEK for the full year of 2017

* Enea invoices the customer according to the existing agreement and through dialogue and customary reminders urges the customer to pay accordingly Source text for Eikon: Further company coverage: (Reporting by Stockholm Newsroom)

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