• Home
  • Journal
  • Public Companies
  • Outotec has taken a strategic decision to divest three businesses in the Metals, Energy & Water segment

Outotec has taken a strategic decision to divest three businesses in the Metals, Energy & Water segment

Written by Customer Service on . Posted in Public Companies.

OUTOTEC OYJ   INSIDE INFORMATION   DECEMBER 10, 2019 AT 6:20 PMOutotec has taken a strategic decision to divest three businesses in the Metals, Energy & Water segmentOutotec has decided to divest three businesses from the Metals, Energy & Water segment’s portfolio. These businesses relate to aluminum, waste-to-energy and sludge incineration.  The aluminum business to be divested includes green anode plant, rod shop and certain casthouse technologies as well as related service operations.The waste-to-energy business to be divested comprises of biomass, wood waste and various other fuel plants including related service operations.The sludge incineration business to be divested comprises of delivery of plants for treatment of municipal and industrial sludge and related service operations.
 In total, approximately 250 experts are working in these three businesses.
 In Outotec’s 2019 financial results, the businesses to be divested will be classified as discontinued operations, including the transfer of non-current assets held for sale and liabilities directly attributable to them on separate lines in the statement of financial position. The comparison figures in the statement of income will be restated for 2018 to show the discontinued operations separately from continuing operations.
 For the financial year 2019, the intended actions will lower the expected sales by approximately EUR 50 million but increase the adjusted EBIT* by approximately EUR 40 million. The restated comparable sales for the financial year 2018 would have been approximately EUR 1,200 million, EUR 80 million lower from the 2018 reported sales. The restated adjusted EBIT* for 2018 would have increased by EUR 20 million to approximately EUR 84 million (excluding provision for the ilmenite smelter project).             “Pursuing these strategic actions will enable Outotec to better focus on its core technologies in minerals processing and metals refining. We of course remain committed to serving our energy and aluminum customers until these divestments have been completed,” says Outotec’s CEO Markku Teräsvasara.

*Excluding restructuring- and acquisition-related items, as well as PPA amortizations.Further information:Outotec OyjMarkku Teräsvasara, CEO
Tel. +358 20 529 2000Jari Ålgars, CFO
Tel. +358 20 529 2007e-mails firstname.lastname@outotec.comDISTRIBUTION
Nasdaq Helsinki
Main media
www.outotec.com

Disclaimer & Cookie Notice

Welcome to GOLDEA services for Professionals

Before you continue, please confirm the following:

Professional advisers only

I am a professional adviser and would like to visit the GOLDEA CAPITAL for Professionals website.

Cookie Notice

We use cookies to improve your experience on our website

Information we collect about your use of Goldea Capital website

Goldea Capital website collects personal data about visitors to its website.

When someone visits our websites, we use a third party service, Google Analytics, to collect standard internet log information (such as IP address and type of browser they’re using) and details of visitor behavior patterns. We do this to allow us to keep track of the number of visitors to the various parts of the sites and understand how our website is used. We do not make any attempt to find out the identities or nature of those visiting our websites. We won’t share your information with any other organizations for marketing, market research or commercial purposes and we don’t pass on your details to other websites.

Use of cookies
Cookies are small text files that are placed on your computer or other device by websites that you visit. They are widely used to make websites work, or work more efficiently, as well as to provide information to the owners of the site.