Uponor - Company Announcement

Uponor's tax appeal for the years 2005-2009 rejected by Finland’s Board of Adjustment

Uponor Corporation             Stock exchange release                14 May
2013 11.48 EET 



Uponor's tax appeal for the years 2005-2009 rejected by Finland's Board of
Adjustment 

The Board of Adjustment of the Finnish Tax Authorities has decided to keep in
force the earlier decision of the Tax Authority, requiring Uponor Business
Solutions Oy to pay €14.4 million in back taxes and penalties in the case
concerning the market-based transfer pricing of Uponor's internal service
charges. The Board of Adjustment made its decision on 9 April 2013, by a vote
of 3-2. 

Late fees and tax increases accounted for €5.0 million of the sum. These were
entered as costs in the financial statements for the year 2011. The additional
taxes of €9.4 million paid due to higher taxable income were booked as
receivables in the balance sheet. This decision by the Board of Adjustment will
not lead to any new payments or payment returns at this stage, and will
therefore not affect Uponor's consolidated cash flow. 

Uponor holds to its earlier view that its operations have been aligned with the
current legislation and, within its internal operations, the company has
observed the principles of market-based pricing. Uponor plans to place the
issue before the administrative court and apply for a rectification of the
Board of Adjustment's ruling, as well as seeking a counter-rectification of
taxable income in countries where the company should, according to the Board of
Adjustment, have charged service fees. 

In February 2012, Uponor also lodged an appeal on a €0.5 million transfer price
issue concerning its parent company Uponor Corporation. This matter is ongoing. 



Uponor Corporation


Tarmo Anttila
Vice President, Communications
Tel. +358 20 129 2852



DISTRIBUTION:
NASDAQ OMX - Helsinki
Media
www.uponor.com



Uponor is a leading international provider of plumbing and indoor climate
solutions for residential and commercial building markets across Europe and
North America. In Northern Europe, Uponor is also a prominent supplier of
infrastructure pipe systems. The Group employs approx. 3,000 persons, in 30
countries. In 2012, Uponor's net sales exceeded €810 million. Uponor
Corporation is listed on NASDAQ OMX Helsinki in Finland. http://www.uponor.com.