Kogan.com Writes Down Goodwill on Mighty Ape Acquisition

MT Newswires Live

Aug 18

Kogan.com (ASX:KGN) reported a goodwill impairment related to its Mighty Ape acquisition, citing slower-than-expected recovery from recent platform issues and a tough New Zealand retail environment, according to a Monday filing with the Australian bourse.

The company believes Mighty Ape will return to positive trading in the second half of fiscal year 2026, but the board views the goodwill write-down as a prudent step despite their confidence in the brand, the filing said.

The goodwill linked to Mighty Ape stood at AU$46.3 million as of June 30, 2024, and the one-off, non-cash impairment will not affect Kogan.com's adjusted earnings before interest, taxes, depreciation, and amortisation, the filing added.

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