After almost a year-long process, Aarsleff has now obtained all the required approvals in both Denmark and Russia, and the sale of Aarsleff's Russian business has now been completed.
Aarsleff has renovated sewer pipes and drinking water pipes for the Russian utility companies, and the decision to leave Russia was based on the Russian invasion of Ukraine, cf. Aarsleff's company announcement of 31 March 2022.
As previously announced, the business has been sold to the local management team and has been treated as an asset held for sale and reassessed at fair value, resulting in a non-cash impairment loss of DKK 66 million in the preceding financial year.
The sale will not affect Aarsleff's EBIT expectations for the financial year 2022/23.