Studsvik's US subsidiary, Studsvik Scandpower Inc, exposed to fraud - incorrect payments

Studsvik's US subsidiary Studsvik Scandpower Inc, within the Scandpower business area, has been exposed to an advanced financial fraud which has resulted in incorrect payments of USD 1.3 million which will have a negative impact on the Scandpower business area's earnings for the third quarter of 2024.

The investigation is ongoing internally and the incident has been reported to the relevant US authorities and insurance companies.

Studsvik has immediately started work to further strengthen the internal control systems to prevent similar events from occurring.

For further information please contact:

Peter Teske, CFO Studsvik AB, +46 155 22 19 30
Camilla Hoflund, President and CEO Studsvik AB, +46 155 22 10 66

Facts about Studsvik

Studsvik offers a range of advanced technical services to the global nuclear power industry. Studsvik’s business focus areas are fuel and materials technology, reactor analysis software, decontamination and radiation protection as well as technical platforms for handling, conditioning and volume reduction of radioactive waste. The company has more than 75 years’ experience of nuclear technology and radiological services. Studsvik has 530 employees in 7 countries and the company’s shares are listed on Nasdaq Stockholm.

This information is information that Studsvik AB (publ) is obliged to disclose pursuant to the EU Market Abuse Regulation and the Securities Markets Act. The information was released for public disclosure, through the agency of the contact person above, on August 14, 2024, at 06:15 pm (CEST).

www.studsvik.com