SCA will make a provision of approximately SEK 1.3 billion ($154.5 million) related to the tax cases in Sweden and Austria currently in progress, as the company says in the press release received by Lesprom Network.
Most of this amount was previously recognized as a contingent liability in the annual report. This provision will be recognized as a tax expense in the 2Q 2016.
SCA will also reserve approximately SEK 980 million ($116.5 million) for potential obligations related primarily to anti-trust cases in Chile, Columbia, Poland, Spain and Hungary. This provision will be recognized as an item affecting comparability in the 2Q 2016.
SCA is a leading global hygiene and forest products company. The Group develops and produces sustainable personal care, tissue and forest products.
