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Freemelt extends the depreciation period for patents

16:45 / 24 May 2024 Freemelt Press release

Nasdaq First North-listed Freemelt is changing the depreciation period for the group’s patent portfolio to align with expected time-of-use

The change implies that the group's patents will be depreciated over 15 years instead of 5 years. Patents have a maximum lifespan of 20 years and extending the depreciation period to 15 years better reflects the estimated useful life of the patents. The decision to change the patent depreciation period is an accounting measure and has no impact on cash flow. It is the remaining value on the balance sheet that will be adjusted, previous depreciations remain unchanged.

The adjustment is effective from April 1st, 2024, onwards. Consequently, the income statement and balance sheet will be adjusted from this date. The measure is estimated to positively impact the 2024 operating result by approximately 550 KSEK.

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This information was distributed by MFN