HELSINKI, Finland, Jan. 17, 2014 (GLOBE NEWSWIRE) -- Changes in financial reporting
Metso will report Valmet (previously Metso's Pulp, Paper and Power businesses) and Valmet Automotive (previously a Metso subsidiary) as discontinued operations (IFRS 5) in its consolidated financial statements for 2013. The post-tax net profit of discontinued operations will be presented as a single figure at the bottom of Metso's income statement. Valmet's and Valmet Automotive's balance sheets will not be consolidated into Metso's balance sheet. Earnings per share for discontinued operations will be reported separately from continuing operations, and Metso's equity per share at December 31, 2013 will exclude the net assets of discontinued operations.
Valmet was split from Metso as a result of the demerger. Following the reduction in Metso's holding in Valmet Automotive from approx. 61% to approx. 41%, Valmet Automotive is no longer a Metso subsidiary. Both transactions took place at the end of 2013 (Stock Exchange Releases dated December 30, and December 31, 2013).
The publication of Metso's Financial Statements for 2013 and an invitation to a news conference
Metso Corporation's Financial Statements Review for 2013 will be published on Thursday, February 6, 2014 at about 12:00 noon EET (5:00 EDT, 10:00 GMT, 11:00 CET).
Metso will arrange the news conference for media, investors and analysts at Metso Group Head Office, Fabianinkatu 9 A, Helsinki, on Thursday, February 6, 2014 at:
08:00 EST / New York
13:00 GMT / London
14:00 CET / Paris
15:00 EET / Helsinki
This conference can also be followed through a live webcast at www.metso.com/IRwebcasts and a conference call from 15:00 EET onwards. Questions are accepted during the event via conference call.
Due to live webcast, we kindly ask those attending in person to be present 5 minutes prior to the start of the event.
Conference call details
Conference call participants are requested to dial in five minutes before the scheduled time at:
US: +1 877 491 0064
other countries: +44 20 7162 0077
access code: 940 040
A replay of the call will be available for two weeks until February 20, 2014 on the following phone numbers:
US: +1 954 334 0342
other countries: +44 20 7031 4064
access code 940 040
An audio file (mp3) and a transcript of the event will be made available for downloading at www.metso.com/IRwebcasts on Monday, February 10, 2014.
The presentation material will be available after the publication of the Financial Statements Review on February 6, 2014 at www.metso.com/investors at approximately 12.00 noon EET.
Metso is a leading process performance provider, with customers in the mining, construction, and oil & gas industries. Metso is also known for its advanced automation solutions for pulp, paper and power generation. Our focus is on the continuous development of intelligent solutions that improve sustainability and profitability. Metso's shares are listed on the NASDAQ OMX Helsinki Ltd. Metso employs 18,000 professionals in 50 countries. Expect results.
www.metso.com , www.twitter.com/metsogroup
For further information, please contact:
Juha Rouhiainen, VP, Investor Relations, Metso Corporation, tel. +358 20 484 3253
More information about the news conference:
Tanja Mäkinen, Investor Relations Coordinator, Metso Corporation, tel: +358 20 484 3117
Representatives of the media: Emilia Peltola, Communications Manager, Metso Corporation, tel: +358 20 484 3161
VP, Investor Relations
NASDAQ OMX Helsinki Ltd