STOCKHOLM, May 30, 2023 /PRNewswire/ -- Electrolux
Group will set a provision of approximately SEK 650m in connection to the previously reported
investigation of alleged breaches of antitrust rules in
France between 2009 and 2014. A
minor part of the provision relates to settlement of another legal
matter in Europe. The provision
will be reported as a non-recurring item affecting operating income
for Business Area Europe in the second quarter of 2023.
As previously disclosed in press releases and annual reports,
Electrolux Group became in 2013 the subject of an investigation by
the French Competition Authority regarding possible violations of
antitrust rules. The Competition Authority thereafter decided to
conduct two separate investigations of which the first, relating to
the period 2006-2009, was completed in December 2018.
The provision communicated today relates to the second
investigation. In February 2023, the
Competition Authority issued a Statement of Objections involving
various parties within the home appliance sector and where
Electrolux France was alleged to have acted in breach of antitrust
rules in France between 2009 and
2014.
A settlement has now been agreed with the Competition Authority
and Electrolux Group is therefore in accordance with accounting
principles setting this provision. The final amount will be decided
at the end of the procedure.
CONTACT:
For further information, please contact:
Sophie Arnius, Investor Relations, +46 70 590 80 72
Paul Palmstedt, Electrolux Press Hotline, +46 8 657
65 07
The following files are available for download:
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https://mb.cision.com/Main/1853/3776511/2090767.pdf
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230530 PRM Provision
French Anti-trust
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