Wärtsilä Corporation Interim Report q2 2014

Restructuring programmes

The restructuring measures announced in January are proceeding according to plan. The global efficiency programme was initiated in order to realign Wärtsilä’s organisation to secure its future profitability and competitiveness. The programme targets annual savings of EUR 60 million and is expected to lead to a reduction of approximately 1,000 employees globally. The effect of the savings is expected to materialise fully by the end of 2014. At the end of the review period January-June 2014, approximately EUR 10 million of savings had materialised. The non-recurring costs related to the restructuring measures are expected to be EUR 50 million, of which EUR 11 million was recognised in 2013 and EUR 16 million during the review period January-June 2014. The remainder of the costs will be recognised during the second half of 2014.

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