On 28 November 2013, the District Court of Helsinki gave its decisions in the legal proceedings concerning damages related to the asphalt cartel. For Lemminkäinen, the decisions given concerned the claims of 38 municipalities and the Finnish state. According to the District Court, Lemminkäinen’s share of the damages is approximately EUR 48 million (damages of approximately EUR 26 million as well as interest and legal expenses of approximately EUR 22 million). Lemminkäinen's share consists of damages ordered only to Lemminkäinen, Lemminkäinen's share of the damages ordered to it and other asphalt industry companies to be paid jointly and severally, as well as interest and legal expenses related to the damages.
Lemminkäinen estimates that some of the other defendants, who were ordered to pay damages jointly and severally by the District Court, will not be able to pay their shares. Therefore Lemminkäinen will pay approximately EUR 10 million worth damages and costs related to the damages that were ruled against other defendants.
In addition to the claims that the District Court decided on, 14 claims against Lemminkäinen and other asphalt companies for damages are pending. Lemminkäinen has made a provision worth EUR 6 million for these. The amount also includes interest and legal expenses related to the damages.
Lemminkäinen has deemed the claims for damages to be without foundation. Lemminkäinen will carefully study the decisions of the District Court. After this, the company will decide whether there are qualified grounds for submitting an appeal of the decisions with the Court of Appeals. Lemminkäinen and other parties have until 31 March 2014 to submit possible appeals to the Court of Appeals. The company will announce its decision separately once it has been made.
More information on the asphalt cartel and damages related to it can be found on the company’s website at www.lemminkainen.com/investors.