RECOURSE AGAINST THE DECISION OF THE COMMISSION FOR THE PROTECTION OF COMPETITION

Regarding the decision of the Commission for the Protection of Competition (the “CPC”) dated 24/02/2023 to impose a fine of €5.070.950 to Vassiliko Cement Works Public Company Ltd, in view of its findings regarding alleged excessive pricing of grey cement in the domestic market by the Company for the period 2013-2018, the Company announces that, following legal advice, it has paid the administrative fine plus interest with full reservation of all its legal rights in view of the pending recourse of the Company to the Administrative Court for the annulment of CPC’s aforementioned decision.

 

As a consequence, the Company's results for the first six months of 2024 will be negatively impacted compared to the results of the corresponding half of the previous year. However, due to the increase in local cement consumption and the improvement in electricity and energy costs, the results are not expected to be significantly affected.

 

 

16 July 2024