Comprehensive cooperation with the competition authorities allows for a reduced fine of 27.15 million euros.
In spring 2017, the Federal Competition Authority (BWB) conducted searches as part of its investigations into possible price-fixing in the construction industry. In autumn 2019, the first notifications of the complaints were sent to the affected companies, including Swietelsky AG. Now, as part of settlement discussions with the BWB involving the Federal Cartel Prosecutor, a comprehensive acknowledgment has been reached, allowing the investigations and the upcoming cartel court proceedings against SWIETELSKY to come to a timely end. The construction company has agreed to pay 27.15 million euros.
SWIETELSKY CEO Karl Weidlinger stated: “I want to express my personal disappointment and deep regret over the anti-competitive agreements that do not reflect our self-understanding as a fair and law-abiding partner at all. In this situation, the focus had to be on comprehensive cooperation with the investigating authorities and taking all appropriate measures to prevent any future misconduct.”
As examples of such appropriate measures, Weidlinger mentions the successfully completed certifications in 2022 according to the two ISO standards 37301 (Compliance Management System – Antitrust Law) and 37001 (Anti-Corruption Management System). Additionally, a digital whistleblower system has been introduced to quickly identify and clarify possible misconduct within the company. The company's code of conduct has been revised, and all internal media as well as training opportunities within the group have been and will continue to be used regularly to sensitize employees. “Fairness towards business partners as well as the state and society is now the top priority for SWIETELSKY across the group,” assures Weidlinger.
Furthermore, CFO Harald Gindl confirms: “Provisions have already been made in the consolidated financial statements of recent years for the cartel proceedings. Therefore, no effects on the results in the current financial year are expected.” Through comprehensive and continuous cooperation in the investigations, it has been possible to reduce the fine. It is hoped that with the now completed settlement, a long phase of uncertainty can be brought to an end.
