French Antitrust Proceeding Concluded - Electrolux

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Dec 06, 2018, 04:50 ET

STOCKHOLM, Dec. 6, 2018 /PRNewswire/ --

The French Competition Authority (FCA) has completed the previously communicated investigation regarding an alleged breach of antitrust rules in France by Electrolux and other appliance manufacturers during 2006 to 2009.

The FCA has decided on a fine of MEUR 48, which is below the provision of MEUR 54 (MSEK 564) set by Electrolux and reported as a non-recurring item in the second quarter of 2018. This decision follows a settlement that was reached earlier this year between the FCA and Electrolux.

The difference between the actual fine and the provision will be reported as an adjustment of the non-recurring item reported in the second quarter. This adjustment will positively impact the result of Electrolux business area Major Appliances Europe, Middle East and Africa in the results for the fourth quarter. The Q4 interim report will be published on February 1, 2019.

As previously communicated by Electrolux in a press release on February 7, 2018, the FCA is also conducting another investigation affecting Electrolux. The company has not yet been informed of any conclusions regarding this investigation.

Contact:

For further information, please contact Electrolux Press Hotline, +46-8-657-65-07.

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SOURCE Electrolux