Please find below all Forbo media releases listed by year.
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.
Forbo is a leading manufacturer of floor coverings, building and construction adhesives, as well as power transmission and conveyor belt solutions. The company employs more than 5,300 people and has an international network of 24 production facilities and distribution companies, 6 assembly centers as well as 45 pure sales organizations in a total of 36 countries across the globe. The company generated net sales of CHF 1,185.5 million in the 2016 business year. Forbo is headquartered in Baar in the canton of Zug, Switzerland.
The Group company Forbo Holding Ltd is listed on the SIX Swiss Exchange (securities number 354151, ISIN CH0003541510, Bloomberg FORN SW, Reuters FORN.S).
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