Outotec's restated segment information according to the new operational structure
OUTOTEC OYJ STOCK EXCHANGE RELEASE OCTOBER 18, 2013 AT 1.00 PM
OUTOTEC'S RESTATED SEGMENT INFORMATION ACCORDING TO THE NEW OPERATIONAL STRUCTURE
As of July 1, 2013, Outotec's new IFRS 8 reporting segments are Metals, Energy & Water and Minerals Processing. Service sales are reported on the Group level.
The restated figures for 2012 and for January-June 2013 are presented in the tables below and in the attached file. Restatements for earlier periods have not been made.
Main changes relating to the new segment reporting are:
- In the new segment reporting one segment is in charge of the customer delivery and thus all related sales and costs of sales are directly allocated to that segment. Previously, the customer delivery was reported and allocated by technology leading to several intra-group transactions between the segments.
- Based on the new operative reporting principles, costs related to share-based incentive programs have been allocated to the reported segments. Previously, these items were included in unallocated costs.
The January-September 2013 Interim report will be published on October, 30, 2013
All figures in the tables have been rounded and consequently the sum of individual figures may deviate from the sum presented.
| Restated reporting segment information | ||||||||
| Q1 | Q2 | Q3 | Q4 | Q1-Q4 | Q1 | Q2 | Q1-Q2 | |
| EUR million | 2012 | 2012 | 2012 | 2012 | 2012 | 2013 | 2013 | 2013 |
| Sales | ||||||||
| Metals, Energy & Water | 241.5 | 282.9 | 276.2 | 360.7 | 1,161.2 | 287.8 | 288.3 | 576.1 |
| Minerals Processing | 168.9 | 242.1 | 226.8 | 288.2 | 926.0 | 215.3 | 223.0 | 438.3 |
| Unallocated items1) and intra-group sales | 0.1 | -0.5 | -0.1 | 0.9 | 0.2 | -0.2 | 0.2 | 0.0 |
| Total | 410.4 | 524.4 | 502.8 | 649.8 | 2,087.4 | 502.9 | 511.4 | 1,014.3 |
| Operating profit | ||||||||
| Metals, Energy & Water | 15.4 | 20.6 | 10.6 | 24.6 | 71.3 | 15.9 | 25.1 | 41.0 |
| Minerals Processing | 15.7 | 24.8 | 30.6 | 50.9 | 122.0 | 21.8 | 15.5 | 37.3 |
| Unallocated 2) and intra-group items | -3.6 | -4.5 | -0.2 | -0.6 | -9.0 | -6.0 | -0.8 | -6.8 |
| Total | 27.6 | 40.8 | 41.0 | 74.9 | 184.3 | 31.7 | 39.9 | 71.5 |
| Operating profit margin, % | ||||||||
| Metals, Energy & Water | 6.4 | 7.3 | 3.8 | 6.8 | 6.1 | 5.5 | 8.7 | 7.1 |
| Minerals Processing | 9.3 | 10.2 | 13.5 | 17.7 | 13.2 | 10.1 | 6.9 | 8.5 |
| Total | 6.7 | 7.8 | 8.1 | 11.5 | 8.8 | 6.3 | 7.8 | 7.1 |
| Operating profit from business operations 3) | ||||||||
| Metals, Energy & Water | 17.8 | 23.5 | 13.4 | 20.6 | 75.2 | 18.2 | 27.5 | 45.7 |
| Minerals Processing | 16.5 | 25.5 | 31.5 | 54.1 | 127.6 | 22.8 | 16.6 | 39.4 |
| Unallocated 2) and intra-group items | -3.6 | -4.5 | -0.2 | -0.6 | -9.0 | -6.0 | -0.8 | -6.8 |
| Total | 30.6 | 44.5 | 44.7 | 74.0 | 193.8 | 35.0 | 43.3 | 78.3 |
| Operating profit from business operations margin, % 1) | ||||||||
| Metals. Energy & Water | 7.4 | 8.3 | 4.8 | 5.7 | 6.5 | 6.3 | 9.5 | 7.9 |
| Minerals Processing | 9.8 | 10.5 | 13.9 | 18.8 | 13.8 | 10.6 | 7.4 | 9.0 |
| Total | 7.5 | 8.5 | 8.9 | 11.4 | 9.3 | 7.0 | 8.5 | 7.7 |
| Purchase price allocation (PPA) depreciations | ||||||||
| Metals, Energy & Water | -2.3 | -2.4 | -2.5 | -2.4 | -9.6 | -2.3 | -2.4 | -4.7 |
| Minerals Processing | -0.7 | -0.6 | -0.7 | -0.9 | -2.9 | -0.9 | -1.0 | -1.9 |
| Total | -3.0 | -3.0 | -3.2 | -3.3 | -12.5 | -3.3 | -3.3 | -6.6 |
| Major non-recurring items in operating profit | ||||||||
| Metals, Energy & Water | 0.0 | -0.6 | -0.3 | 6.5 | 5.7 | 0.0 | 0.0 | 0.0 |
| Minerals Processing | -0.1 | -0.1 | -0.3 | -2.2 | -2.7 | -0.0 | -0.1 | -0.2 |
| Total | -0.1 | -0.7 | -0.5 | 4.3 | 3.0 | -0.0 | -0.1 | -0.2 |
| FX impact (unrealized and realized exchange gains and losses related to currency forward contracts) | ||||||||
| Metals, Energy & Water | 0.0 | -2.1 | 1.8 | 1.2 | 0.9 | 0.3 | 0.7 | 1.0 |
| Minerals Processing | 0.3 | -1.7 | 1.4 | 0.8 | 0.8 | 1.2 | 1.2 | 2.4 |
| Unallocated 2) and intra-group items | -0.3 | -0.0 | 0.3 | 0.3 | 0.4 | -0.1 | 0.1 | -0.0 |
| Total | -0.0 | -3.7 | 3.6 | 2.3 | 2.1 | 1.4 | 1.9 | 3.3 |
1) Unallocated items primarily include invoicing of group management and administrative services.
2) Unallocated items primarily include group management and administrative services.
3) Excluding one-time items and purchase price allocations (PPA) amortizations.
| Previous reporting segment information | ||||||||
| Q1 | Q2 | Q3 | Q4 | Q1-Q4 | Q1 | Q2 | Q1-Q2 | |
| EUR million | 2012 | 2012 | 2012 | 2012 | 2012 | 2013 | 2013 | 2013 |
| Sales | ||||||||
| Non-ferrous Solutions | 260.7 | 335.9 | 312.5 | 396.5 | 1,305.5 | 290.9 | 285.8 | 576.7 |
| Ferrous Solutions | 70.0 | 81.8 | 92.9 | 126.4 | 371.2 | 124.3 | 130.6 | 254.9 |
| Energy, Light Metals and Environmental Solutions | 85.9 | 106.8 | 100.1 | 134.1 | 427.0 | 90.0 | 100.6 | 190.5 |
| Unallocated items 1) and intra-group sales | -6.2 | 0.0 | -2.7 | -7.3 | -16.3 | -2.3 | -5.5 | -7.8 |
| Total | 410.4 | 524.4 | 502.8 | 649.8 | 2,087.4 | 502.9 | 511.4 | 1 014.3 |
| Operating profit | ||||||||
| Non-ferrous Solutions | 25.4 | 35.0 | 33.7 | 63.4 | 157.5 | 25.3 | 15.5 | 40.7 |
| Ferrous Solutions | 5.5 | 2.2 | 9.9 | 12.5 | 30.0 | 8.2 | 19.9 | 28.1 |
| Energy, Light Metals and Environmental Solutions | 3.8 | 7.3 | 0.6 | 8.6 | 20.3 | 6.5 | 8.1 | 14.6 |
| Unallocated 2) and intra-group items | -7.2 | -3.6 | -3.2 | -9.5 | -23.5 | -8.3 | -3.7 | -12.0 |
| Total | 27.6 | 40.8 | 41.0 | 74.9 | 184.3 | 31.7 | 39.9 | 71.5 |
| Operating profit margin, % | ||||||||
| Non-ferrous Solutions | 9.7 | 10.4 | 10.8 | 16.0 | 12.1 | 8.7 | 5.4 | 7.1 |
| Ferrous Solutions | 7.8 | 2.6 | 10.7 | 9.9 | 8.1 | 6.6 | 15.3 | 11.0 |
| Energy, Light Metals and Environmental Solutions | 4.5 | 6.9 | 0.6 | 6.4 | 4.8 | 7.2 | 8.1 | 7.7 |
| Total | 6.7 | 7.8 | 8.1 | 11.5 | 8.8 | 6.3 | 7.8 | 7.1 |
| Operating profit from business operations 3) | ||||||||
| Non-ferrous Solutions | 26.3 | 36.0 | 34.8 | 66.1 | 163.2 | 26.4 | 16.8 | 43.1 |
| Ferrous Solutions | 5.5 | 2.7 | 10.2 | 13.0 | 31.4 | 8.3 | 20.0 | 28.2 |
| Energy, Light Metals and Environmental Solutions | 6.0 | 9.5 | 2.8 | 4.4 | 22.6 | 8.6 | 10.2 | 18.9 |
| Unallocated 2) and intra-group items | -7.2 | -3.6 | -3.2 | -9.5 | -23.5 | -8.3 | -3.7 | -12.0 |
| Total | 30.6 | 44.5 | 44.7 | 74.0 | 193.8 | 35.0 | 43.3 | 78.3 |
| Operating profit from business operations margin, % 3) | ||||||||
| Non-ferrous Solutions | 10.1 | 10.7 | 11.1 | 16.7 | 12.5 | 9.1 | 5.9 | 7.5 |
| Ferrous Solutions | 7.8 | 3.3 | 11.0 | 10.3 | 8.5 | 6.6 | 15.3 | 11.1 |
| Energy, Light Metals and Environmental Solutions | 6.9 | 8.9 | 2.8 | 3.3 | 5.3 | 9.6 | 10.2 | 9.9 |
| Total | 7.5 | 8.5 | 8.9 | 11.4 | 9.3 | 7.0 | 8.5 | 7.7 |
| Purchase price allocation (PPA) depreciations | ||||||||
| Non-ferrous Solutions | -0.9 | -0.8 | -0.9 | -1.1 | -3.7 | -1.1 | -1.1 | -2.2 |
| Ferrous Solutions | - | - | -0.1 | -0.1 | -0.2 | -0.1 | -0.1 | -0.1 |
| Energy, Light Metals and Environmental Solutions | -2.1 | -2.2 | -2.2 | -2.2 | -8.6 | -2.1 | -2.1 | -4.2 |
| Total | -3.0 | -3.0 | -3.2 | -3.3 | -12.5 | -3.3 | -3.3 | -6.6 |
| Major non-recurring items in operating profit (one-time items) | ||||||||
| Non-ferrous Solutions | - | -0.2 | -0.3 | -1.6 | -2.1 | - | -0.2 | -0.2 |
| Ferrous Solutions | - | -0.6 | -0.2 | -0.5 | -1.3 | - | - | - |
| Energy, Light Metals and Environmental Solutions | - | - | - | 6.3 | 6.3 | - | - | - |
| Unallocated items | -0.1 | 0.1 | - | - | - | -0.0 | 0.0 | - |
| Total | -0.1 | -0.7 | -0.5 | 4.3 | 3.0 | -0.0 | -0.1 | -0.2 |
| FX impact (unrealized and realized exchange gains and losses related to currency forward contracts) | ||||||||
| Non-ferrous Solutions | 0.9 | -1.8 | 2.0 | 0.8 | 1.8 | 2.0 | 0.7 | 2.7 |
| Ferrous Solutions | -0.1 | -0.3 | 0.2 | 0.8 | 0.6 | -1.0 | 0.7 | -0.2 |
| Energy, Light Metals and Environmental Solutions | -0.5 | -1.5 | 1.1 | 0.4 | -0.6 | 0.4 | 0.5 | 0.9 |
| Unallocated 2) and intra-group items | -0.3 | -0.0 | 0.3 | 0.3 | 0.4 | -0.1 | 0.1 | -0.0 |
| Total | -0.0 | -3.7 | 3.6 | 2.3 | 2.1 | 1.4 | 1.9 | 3.3 |
1) Unallocated items primarily include invoicing of group management and administrative services.
2) Unallocated items primarily include group management and administrative services.
3) Excluding one-time items and purchase price allocations (PPA) amortizations.
OUTOTEC OYJ
Rita Uotila, Vice President - Investor Relations
tel. +358 20 529 2003, mobile +358 400 954 141
e-mail: rita.uotila(at)outotec.com
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www.outotec.com