Volvo makes additional provision in connection with EU competition investigation6/25/16
In January 2011, the Volvo Group and a number of other companies in the truck industry became part of an investigation by the European Commission regarding a possible violation of EU antitrust rules. In the fourth quarter of 2014, the Volvo Group made an initial provision of EUR 400 million (SEK 3.8 billion) since it was likely that the Group’s financial results and cash flow would be adversely impacted by the Commission’s investigation. At the same time, Volvo announced that the company would reassess the size of the provision on a continuous basis as the Commission’s investigation continued. The provision made by the Volvo Group total EUR 650 million (SEK 6.1 billion) and is based on the company’s best assessment of the financial impact of the investigation at the present time. The investigation is ongoing and the Volvo Group is cooperating fully with the authorities involved.
June 25, 2016
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