Information regarding a procedure with the French Competition Authority
Paris - La Défense, July 20th, 2017
At this point of the procedure with the French Competition Authority, Tarkett has decided to book a provision of an amount of 150 million euros in its financial accounts as of June 30, 2017. This procedure follows an inquiry initiated in March 2013 towards several resilient flooring manufacturers on the French market. This inquiry relates to former practices that began back in 1990, for which the company has received a statement of objections. Tarkett has been fully cooperating with the Authority since the beginning of the inquiry. The final amount of the penalty will only be known at the end of the procedure.
This will lead Tarkett to report a negative net income over the first-half 2017 and over the full year 2017, but this will not lead to any change in the financial targets of the 2020 strategic plan. This non-recurring provision will be treated as an adjustment to EBITDA and will not impact the indicator "Adjusted EBITDA". Considering Tarkett's solid balance sheet, this amount will not impact the ability of the Group to meet its financial covenants.
Tarkett reiterates that abiding by competition law is one of the Group's ethical values. To this end, Tarkett has implemented a compliance program to ensure the strict respect of laws and applicable competition regulations.
About Tarkett
With net sales of more than €2.7bn in 2016, Tarkett is a worldwide leader of innovative flooring and sports surface solutions. Offering a wide range of products including vinyl, linoleum, rubber, carpet, wood and laminate flooring, artificial turf and athletics tracks, the Group serves customers in over 100 countries across the globe. With 12,500 employees and 34 industrial sites, Tarkett sells 1.3 million square meters of flooring every day, for hospitals, schools, housing, hotels, offices, stores and sports fields. Committed to sustainable development, the Group has implemented an eco-innovation strategy and promotes a circular economy. Tarkett is listed on Euronext Paris (compartment A, ISIN: FR0004188670, ticker TKTT) as well as on the SBF 120 and CAC Mid 60 indexes. www.tarkett.com
Investor Relations Contact
Tarkett - Jacques Bénétreau - jacques.benetreau@tarkett.com
Tarkett - Alexandra Baubigeat Boucheron - alexandra.baubigeatboucheron@tarkett.com
Media Contact
Tarkett - Véronique Bouchard Bienaymé - communication@tarkett.com
Brunswick - tarkett@brunswickgroup.com - Tel: +33 (0)1 53 96 83 83
