SPORTTOTAL AG releases litigation provisions of around EUR 1.8 million
- SPORTTOTAL AG has reached a mutual agreement on a settlement in the context of a legal dispute with a former business partner.
- Provisions of around EUR 1.8 million will be released with effect on earnings in the current financial year
Cologne, December 8, 2022. SPORTTOTAL AG (“Company”) has reached a settlement in a legal dispute with a former business partner. The Company today took receipt of the relevant court ruling. The Company is therefore in a position to release provisions of around EUR 1.8 million set up for this lawsuit in 2019. An unscheduled effect on earnings will therefore be achieved in the total amount of the provisions released. The parties have otherwise agreed to keep the content of the settlement confidential.
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