Electrolux: sets aside E56m for potential fine
(CercleFinance.com) - The Electrolux group has announced that it is making a provision of around 650m SEK (around E56m) for the investigation into possible antitrust violations in France between 2009 and 2014.
A small part of the provision relates to the settlement of another legal case in Europe. The provision will be recognised as a non-recurrent item affecting the operating profit of Business Area Europe in Q2 2023.
For the record, Electrolux was investigated by the French Competition Authority in 2013 regarding possible antitrust violations. The French competition authority (Autorité de la concurrence) then decided to conduct two separate investigations, the first of which, covering the period 2006-2009, was completed in December 2018.
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A small part of the provision relates to the settlement of another legal case in Europe. The provision will be recognised as a non-recurrent item affecting the operating profit of Business Area Europe in Q2 2023.
For the record, Electrolux was investigated by the French Competition Authority in 2013 regarding possible antitrust violations. The French competition authority (Autorité de la concurrence) then decided to conduct two separate investigations, the first of which, covering the period 2006-2009, was completed in December 2018.
Copyright (c) 2023 CercleFinance.com. All rights reserved.