Wärtsilä Corporation Interim Report q3 2014

Restructuring programmes

The global efficiency programme announced in January is proceeding according to plan. The restructuring measures were 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 restructuring measures will be completed by the end of 2014 and the full impact of the savings will be seen in 2015. At the end of the review period January-September 2014, approximately EUR 20 million of savings had materialised. The non-recurring costs related to the restructuring measures are estimated to be EUR 50 million, of which EUR 11 million was recognised in 2013 and EUR 17 million during the review period January-September 2014. The remaining costs will be recognised during the fourth quarter of 2014.

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