FORBO HOLDING AG MEDIA RELEASE
Antitrust proceedings against Forbo Flooring Systems in France -
One-off provision made
Baar, July 20, 2017
In on-going antitrust proceedings brought against Forbo Flooring Systems and other competitors in France in 2013, it appears that Forbo Flooring Systems France needs to anticipate one-off costs of around CHF 85 million.
Forbo has always reported the French antitrust investigation as a contingent liability in its financial reports. However, as there are now reliable indications that one-off costs will be incurred, Forbo is provisionally recognizing a provision from its 2017 operating profit in the amount of CHF 85 million.
Adjusted for this extraordinary effect, Forbo confirms its positive guidance of spring 2017.
The Forbo Group's operating power will thus not be negatively affected.
This is an isolated incident at Forbo Flooring Systems in France. Forbo has worked closely together with the authorities in the fact-finding process and took swift actions at that time to ensure that such breaches of the Forbo Code of Conduct will not reoccur.
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