Scania Contests European Commission View, but Makes Provision

Scania announces it contests the European Commission's view it has entered into a pan-European agreement with other manufacturers regarding pricing, but is fully cooperating with the commission during the investigation.

As previously communicated, Scania, along with a number of other truck manufacturers, has been investigated by the European Commission concerning inappropriate exchange of information during the period 1997-2011.

In light of the European Commission’s Statement of Objections and recent developments in the investigation, Scania is now, in accordance with relevant accounting principles and a prudent approach, making a provision in order to cover possible fines.

Scania has fully cooperated with the European Commission during the investigation. However, Scania contests the commission’s view that the company has entered into a pan-European agreement with other manufacturers with regard to pricing.

Also, the company has not delayed the introduction of new engines compliant with EU-legislation for exhaust emissions.

The company will fully exercise its rights of defence in the ongoing investigation.

The provision of SEK 3.8 billion will have an impact on operating income in the second quarter of 2016. Scania will publish its Interim Report for the period January-June 2016 on 28 July 2016.