SCA makes provision for ongoing anti-trust and tax cases
SCA will make a provision of approximately SEK 1.3bn related to the tax cases in Sweden and Austria currently in progress. Most of this amount was previously recognized as a contingent liability in the annual report. This provision will be recognized as a tax expense in the second quarter of 2016. SCA will also reserve approximately SEK 980m for potential obligations related primarily to anti-trust cases in Chile, Columbia, Poland, Spain and Hungary. This provision will be recognized as an item affecting comparability in the second quarter of 2016.
SCA has previously released information about the main part of these tax and anti-trust cases. Recently announced judgements in similar cases indicate a change in practice. The company now considers it appropriate to make a provision in the financial statements.
NB: This information is such that SCA must disclose in accordance with the Securities Markets Act and/or the Financial Instruments Trading Act. Submitted for publication on July 1, 2016, at 6:00 p.m. CET.
For additional information please contact:
Linda Nyberg, VP Media Relations and Online Communications, 46 8 788 51 58
Johan Karlsson, Vice President Investor Relations, 46 8 788 51 30
SCA is a leading global hygiene and forest products company. The Group develops and produces sustainable personal care, tissue and forest products. Sales are conducted in about 100 countries under many strong brands, including the leading global brands TENA and Tork, and regional brands, such as Libero, Libresse, Lotus, Nosotras, Saba, Tempo, Vinda and Zewa. As Europe’s largest private forest owner, SCA places considerable emphasis on sustainable forest management. The Group has about 44,000 employees. Sales in 2015 amounted to approximately SEK 115bn (EUR 12.3bn). SCA was founded in 1929, has its headquarters in Stockholm, Sweden, and is listed on NASDAQ OMX Stockholm. For more information, visit www.sca.com.