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ITAB Group AB (publ): ITAB makes an impairment of intangible assets following discontinued implementation of new ERP system
ITAB Group AB (publ) ("ITAB") announces that the Board of Directors today has resolved to discontinue the ongoing project to implement a new enterprise resource planning system ("ERP") from Industrial and Financial System. As a result of the resolution, previously capitalised assets related to the project will be impaired, and a provision for future obligations will be made, resulting in an earnings impact totalling approximately MSEK 244, of which approximately MSEK 216 will be charged to the ITAB Group's operating profit as a non-recurring item during the third quarter of 2026. Cash-flow effect of the impairment and provision amounts to approximately MSEK 40 relating to future obligations.
Background
As part of the previous group-wide "One ITAB" program, a project was initiated several years ago to implement a new group-wide ERP system for the then ITAB Group. The purpose was to standardise processes and ways of working across the Group. At the same time, the acquisition of HMY, which was completed in January 2025, has given ITAB access to a broader application landscape and different technology approaches that were not available when the original ERP project was initiated.
New direction
Following a thorough evaluation together with the Group Management, the Board of Directors has today resolved to discontinue the project to implement the new group-wide ERP system and instead proceed with a solution based on a combination of existing ERP systems and group-wide applications. The Board of Directors' assessment is that this approach will enable ITAB to accelerate business integration, reduce execution risk and deploy resources where they create value more quickly to achieve the same strategic objectives.
Financial effects
Development costs for the new ERP project have been capitalised on an ongoing basis in the balance sheet as an intangible asset. As a result of the resolution to discontinue the project, these capitalised expenditures will be impaired, and a provision for future obligations will be made. The impairment and provision will be recognised as a non-recurring item in ITAB's earnings, primarily within the operating profit. In total, the impairment and provision amount to approximately MSEK 244, of which approximately MSEK 216 will be charged to the ITAB Group's operating profit as a non-recurring item during the third quarter of 2026. Earnings before depreciation will be affected by approximately MSEK 18. The remaining amount is expected to impact the Group's operating profit during a three-year period. The impact on cash flow amounts to approximately MSEK 40, distributed over two years, and relates to future obligations.
Jönköping, 10 September 2026
ITAB Group AB (publ)
This information is such that ITAB Group AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out below, at 8.45 a.m. CEST on 10 September 2026.
This is in all respects a translation of the Swedish original press release. In the event of any discrepancies between this translation and the Swedish original, the latter shall prevail.
For further information, please contact:
Andreas Helmersson, CFO
Telephone: +46-70-929 32 26
Mats Karlqvist, Head of Investor Relations
Telephone: +46-70 660 31 32
ITAB Group AB (publ), Box 9054, SE-550 09 Jönköping, Sweden
itabgroup.com, itab.com