Metso terminates its waste-to-energy business and books a one-time expense of EUR 255 million in discontinued operations’ results
Metso Corporation, Stock exchange release, Insider information, on September 4, 2024, at 08:35 a.m. EEST
Metso has completed the termination of its waste-to-energy business and now settled the related legal processes concerning historic projects. As a result, it will book a one-time expense of EUR 255 million in the July-September results of its discontinued operations. The cash flow impact of this expense in 2024, considering the existing provision, is around EUR 270 million. The waste-to-energy business has been reported as part of discontinued operations in Outotec since December 2019 and in Metso since 2020, following the merger of Metso Minerals and Outotec.
With the termination of the business and the settlement agreements of the pending legal processes, Metso has fulfilled the obligations and responsibilities of the delivery contracts related to the several orders received by Outotec in 2015. The challenges related to these deliveries began in 2019, before the merger of Metso Minerals and Outotec.
The uncertainties related to the waste-to-energy business and its deliveries were considered as part of the overall merger exchange ratio determination in 2019. After the merger, Metso has noted in its financial statements and interim reports that there are risks associated with these old waste-to-energy projects. The company last reported in February 2023 that the last three projects were in legal processes, which have now been settled.
Further information:
Juha Rouhiainen, Vice President, Investor Relations, Metso Corporation, tel. +358 20 484 3253, email: juha.rouhiainen(a)metso.com
Distribution:
Nasdaq Helsinki Ltd
Main media
Metso is a frontrunner in sustainable technologies, end-to-end solutions and services for the aggregates, minerals processing and metals refining industries globally. We improve our customers’ energy and water efficiency, increase their productivity, and reduce environmental risks with our product and service expertise. We are the partner for positive change.
Headquartered in Espoo, Finland, Metso employs over 17,000 people in close to 50 countries and sales for 2023 were about EUR 5.4 billion. The company is listed on the Nasdaq Helsinki. metso.com, x.com/metsoofficial