Wärtsilä - Other information disclosed according to the rules of the Exchange

Wärtsilä to recognise provisions related to nuclear power plant back-up genset projects

Wärtsilä Corporation, Stock exchange release, 11.12.2018 at 5.10 pm EET
Wärtsilä to recognise provisions related to nuclear power plant back-up genset
projects
Wärtsilä has conducted a detailed review of its ongoing nuclear power plant
projects, following the decision to cease providing emergency back-up equipment
to this segment. Based on the findings of the review, two projects have been
identified where material additional provisions are required to cover cost
overruns and project delays. The allocation of responsibility for the additional
costs and delays are in dispute. The provisions, amounting to approximately EUR
70 million, will be recognised in Wärtsilä’s fourth quarter operating result.
The negative impact to the result is partially offset by the capital gain from
the divestment of the pumps business, which was announced in October.
Prior to exiting the nuclear business, Wärtsilä Energy Solutions’ offering to
the segment consisted of emergency generators and auxiliary equipment used to
secure power supply for the nuclear plant. The nuclear business represented
approximately 1% of Energy Solutions’ net sales in 2017. Wärtsilä remains
committed to supporting its customers in the nuclear segment with service
activities.
For further information, please contact:
Jaakko Eskola
President & CEO
Wärtsilä Corporation
Tel: +358 10 709 5601
jaakko.eskola@wartsila.com
Atte Palomäki
Executive Vice President, Communications & Branding
Wärtsilä Corporation
Tel: +358 10 709 5599
atte.palomaki@wartsila.com
For investor information, please contact:
Natalia Valtasaari
Director, Investor Relations
Wärtsilä Corporation
Tel: +358 10 709 5637
natalia.valtasaari@wartsila.com
Wärtsilä in brief
Wärtsilä is a global leader in smart technologies and complete lifecycle
solutions for the marine and energy markets. By emphasising sustainable
innovation, total efficiency and data analytics, Wärtsilä maximises the
environmental and economic performance of the vessels and power plants of its
customers. In 2017, Wärtsilä’s net sales totalled EUR 4.9 billion with
approximately 18,000 employees. The company has operations in over 200 locations
in more than 80 countries around the world. Wärtsilä is listed on Nasdaq
Helsinki.
www.wartsila.com