Parrot S.A.īs legal proceedings against e.solutions GmbH
Parrot S.A., a supplier of e.solutions GmbH, a jointly owned company of EB and AUDI, legal proceeding initiated against e.solutions GmbH in the Tribunal de Commerce de Paris (Commercial Court Paris) in April 2014. In the claim Parrot S.A. requested to collect damages in the amount of approximately EUR 18.4 million for loss of profit and reputational damage. Accordng to e.solutions GmbHīs initial legal analysis as announced in EBīs stock exchange release on April 4, 2014, the claim was without merit both in terms of the grounds and the amount of the claim. In September Parrot withdrew the legal proceeding against EB.
After the reporting period EB received information that Parrot filed a request for arbitration against e.solutions at the International Court of Arbitration of the International Chamber of Commerce seeking remuneration and/or damages currently in an amount of approximately EUR 9.4 million in connection with an automotive supply contract. Based on e.solutionsī initial legal analysis the claim is without merit both in terms of the grounds and the amount of the claim. Based on the current analysis, the arbitral proceedings will not cause any financial obligation to e.solutions or to EB that would affect EBīs profit outlook and financial position. It is possible that, based on later information, this view may need to be reconsidered. At worst, Parrotīs claim could have significant negative impact on e.solutionsī and EBīs profit, cash flow and financial position.