Outotec Oyj - Company Announcement

Outotec has achieved the targeted EUR 50 million savings and closes the program

OUTOTEC OYJ  STOCK EXCHANGE RELEASE  OCTOBER 30, 2014  at 8.55 AM
Outotec has achieved the targeted EUR 50 million savings and closes the program
Outotec introduced an efficiency improvement program on October 17, 2013
targeting up to EUR 50 million annualized savings in operating costs by the end
of 2014 compared to the Q3/2013 situation. The company has achieved the targeted
savings at the end of September 2014 and closes now the program. The one-time
costs from the program were EUR 28 million.
As a result of the efficiency improvement program, voluntary resignations and
retirements Outotec's personnel has been reduced in total by 570 persons (212 in
services, 358 in capex business and shared functions). The services personnel
reductions relate to ramp-down of some low profitability service contracts. At
the same time, recruitments to service business (468), especially to operation
and maintenance at new customer sites, as well as product development (49) and
acquisitions (23) increased the headcount by 540 persons. In total, this
resulted in a net reduction of 30 persons since September 2013.
For further information please contact:
OUTOTEC
Mikko Puolakka, CFO
Tel. +358 20 529 2002
Eila Paatela, Director - Corporate Communications
Tel. +358 20 529 2004, mobile +358 400 817198
Emails: firstname.lastname@outotec.com

DISTRIBUTION:
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Main media
www.outotec.com

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