19 December 2007
Stock Exchange Bulletin
By its decision issued today, the Market Court has ordered seven asphalt
industry companies to pay a total of EUR 19.4 million in competition
infringement fines for circumventing competition laws.
The infringement fine imposed on Lemminkäinen is EUR 14 million. The amount
proposed by the Finnish Competition Authority was EUR 68 million.
Lemminkäinen will examine the decision and announce its position in a stock
exchange bulletin to be issued at 3:00 p.m. this afternoon. Any requests for
additional information will be addressed after the announcement.
The Market Court is the court of first instance to hear the case. All parties
are entitled to appeal the decision to the Supreme Administrative Court.
Irrespective of any appeal, the competition infringement fine imposed on
Lemminkäinen by the Market Court will be recognised as expenditure in the fourth
quarter of the current year. Even so, Lemminkäinen's profit for 2007 will exceed
its earnings in 2006.
Helsinki Stock Exchange
Lemminkäinen Group operates in all areas of the construction sector. Its main
business areas are building construction, infrastructure construction, technical
building services and building products. Net sales in 2006 were EUR 1,795.9
million, of which international operations accounted for about a third. The
Group employs some 9,000 people. Lemminkäinen's main market area is the Baltic
rim region, where the Group has established a presence by setting up local
subsidiaries, but it also serves customers all over the world in specialised
areas of construction. Lemminkäinen´s share is listed on Helsinki Stock