Brief: Mobotix - French Competition Authority Imposes Fine With Impact On 2020/21 Earnings

Mobotix AG

09/11/2021 07:19

Nov 9 (Reuters) - MOBOTIX AG  MBQGn.DE :
    * SAID ON MONDAY: ANNOUNCES THAT THE FRENCH DIRECTION
GÉNÉRALE DE
LA CONCURRENCE, DE LA CONSOMMATION ET DE LA RÉPRESSION DES
CONSOMMATION ET DE LA RÉPRESSION DES FRAUDES (DGCCRF) IMPOSES A
FINE OF EUR 644,757 TO BE PAID BY THE COMPANY
    * FINE WAS IMPOSED FOR A DISTRIBUTION PRACTICE OF MOBOTIX
PRODUCTS
IN FRANCE BETWEEN 2011/12 AND 2017/18
    * COURT ALLEGES UNLAWFUL PRICE FIXING
    * DECISION IS NOT LEGALLY BINDING AND MOBOTIX INTENDS TO
APPEAL
AGAINST THE PENALTY 
    * CORRESPONDING PRACTICE IN QUESTION WAS WAS CHANGED IN
FISCAL
YEAR 2017/18 AND IS NO LONGER APPLIED TODAY
    * 2021/21 FINANCIAL YEAR RESULT WILL BE REDUCED BY EUR
700,000 ON
NON-RECURRING BASIS
    * FY FORECAST ISSUED ON OCTOBER 13, 2021 WITH EBIT OF EUR 1
MLN IS
NO LONGER TENABLE AND WILL BE REDUCED TO EUR 300,000

    
    
 Further company coverage:  MBQGn.DE  

 (Gdansk Newsroom)
 ((gdansk.newsroom@thomsonreuters.com; +48 58 769 66 00;))