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Restructuring programmes

Wärtsilä initiated restructuring measures in 2015 and 2016 to adapt to prevailing market conditions. These measures target annual savings of approximately EUR 90 million, of which approximately EUR 60 million had materialised by the end 2016. The total costs related to the restructuring programmes are estimated to be approximately EUR 75-80 million, of which EUR 67 were recognised by the end of 2016.

Wärtsilä’s aim is to continuously pursue more cost efficient ways of operating and align its operations to market conditions. In this context, local actions within Marine Solutions are expected to result in additional annual savings of approximately EUR 45 million. These savings will start to materialise during 2017, and will take full effect by the end of 2018. The related costs are estimated to be approximately EUR 35 million, of which the majority is expected to be recognised in 2017.

For the full year 2017, additional savings are estimated to be EUR 50-55 million and related restructuring costs EUR 30-35 million. During January-March 2017 Wärtsilä recognised savings of approximately EUR 15 million and costs of EUR 6 million related to all of the above restructuring measures.

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