In the context of the EU investigation into price fixings of truck producers, the company had created a provision of SEK3.8bn in Q4 15 and it now adds another SEK2.3bn. Management seems to be worried that the previous provision is insufficient. The EU’s investigation is still ongoing and Volvo says that it is ‘fully’ cooperating. Hence, we are surprised that the number keeps going up.
30 Jun 2016
Volvo adds another SEK2.3bn to provisions for having fixed prices
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Volvo adds another SEK2.3bn to provisions for having fixed prices
Volvo AB Class B (VOLVB:PRA) | 0 0 1.2% | Mkt Cap: 328,497m
- Published:
30 Jun 2016 -
Author:
Hans-Peter Wodniok -
Pages:
2
In the context of the EU investigation into price fixings of truck producers, the company had created a provision of SEK3.8bn in Q4 15 and it now adds another SEK2.3bn. Management seems to be worried that the previous provision is insufficient. The EU’s investigation is still ongoing and Volvo says that it is ‘fully’ cooperating. Hence, we are surprised that the number keeps going up.