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MOBOTIX AG

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French competition authority imposes fine with impact on 202á...

11/09/2021 | 05:43am EDT

Langmeil, 08.11.2021 - MOBOTIX announces that it has been fined € 644,757 by the French competition authority Direction générale de la concurrence, de la consommation et de la répression des fraudes (DGCCRF). The penalty was imposed for a distribution practice that existed for a period of 6 to 7 years from 2011/12 to 2017/18 and involved considerable sales of MOBOTIX products in France. The accusation is based on inadmissible price fixing. Three French wholesalers and distributors involved were fined more than € 750,000 for the same allegation in total.

The decision is not final. MOBOTIX intends to appeal against the penalty. The corresponding practice was changed in the 2017/18 fiscal year and is no longer used today.

For the penalty including legal fees, provisions in the amount of € 700,000 will be made in the annual financial statements for fiscal year 2020/21 as of 30 September 2021. The result of the 2020/21 business year will thus be burdened in the amount of € 700,000 on a one-off basis. The forecast made on 13 October 2021 to close the 2020/21 business year with an EBIT of € 1 million is therefore no longer tenable. The EBIT will therefore be around € 300,000 for the 2020/21 financial year. The annual audit is expected to be completed on 24 November 2021.

Disclaimer

Mobotix AG published this content on 09 November 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 09 November 2021 10:42:04 UTC.


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