Financial Statements Review 2020
Metso Outotec published its Financial Statements Review 2020 on February 16, 2021.
Financial reporting dates can be found in the investors calendar.
Financial reports follow International Financial Reporting Standards (IFRS) and all information is presented in euros. Segments' performance is measured with operating profit/ loss (EBIT). In addition, alternative performance measures are used to reflect the underlying business performance and to improve comparability between financial periods: “earnings before interest, tax and amortization (EBITA), adjusted” and “return on operating capital employed for reporting segments (segment ROCE)”. Alternative performance measures are not substitutes for IFRS performance measures.
The purpose of the policy is to set out the principles relating to Metso Outotec disclosures in compliance with the applicable laws and regulations and to support the correct valuation of Metso Outotec shares in the market, as well as to define the principles relating to internal disclosures and the Company’s official spokespersons.
This policy is applicable to everyone at Metso Outotec, in particular to the persons with the duty to publicly notify, and anyone who receives inside information.
Metso Outotec complies with the European Union and Finnish laws and regulations and the company’s Corporate Governance principles in its communication, as well as applies the rules and guidelines of Nasdaq Helsinki Ltd and the Finnish Financial Supervisory Authority (the FIN-FSA). This Metso Outotec Disclosure Policy is approved by the Board of Directors, reviewed periodically, and revised when necessary.
Metso Outotec discloses financial information, interim reports, financial statements and financial statement announcements on a regular basis and according to a schedule announced in advance.
Metso Outotec meets with representatives from capital markets and the media and aims to respond to inquiries from investors, analysts, and the media without delay. President & CEO, CFO, Head of Investor Relations and Head of Corporate Communications are the official spokespersons of Metso Outotec. The Metso Outotec Executive Team members and other Metso Outotec experts may give statements relating to their area of responsibility, when so separately authorized.
Metso Outotec provides information on its strategy, financial performance and targets in connection with the company’s financial statements reviews, half year reviews and interim reports. Metso Outotec publishes such information according to a preannounced schedule on reports and presentations website, and the information is available on the website for a period of ten years.
Metso Outotec reports publicly its financial results on the group and segment level. Metso Outotec’s Financial Statements or those of an individual business area can be disclosed to internal or external audiences only after Metso Outotec has issued a stock exchange release on the corresponding information.
Financial Statements, including the review by the Board of Directors, are published each year no later than 21 days before the Annual General Meeting in English and Finnish on reports and presentations website.
Guiding the market
Metso Outotec provides in its interim reviews, half year reviews and financial statement reviews a short-term outlook statement, which is designed to provide the capital markets and financial media with sufficient information to form an informed view on the Company’s future development. The market outlook is based on the management's view of the development of the operating environment and markets. Metso Outotec follows market consensus estimates and considers any need to define or expand its outlook statement if expectations are materially different from its own view. Metso Outotec does not give numerical guidance on its expected financial development during current or following financial years.
Metso Outotec does not provide forward-looking information other than the specific information given in the company’s official market outlook statement.
Metso Outotec monitors the market expectations. Should the market expectations or market estimates differ substantially from the information given by the company, Metso Outotec will take necessary actions to further educate the market.
Metso Outotec will review, upon request, analysts’ research reports only for factual accuracy based on Metso Outotec’s publicly available information.
Under no circumstances will Metso Outotec’s management comment on the company’s valuation or share price development, give preference to one particular analyst or distribute the analysts’ reports to the investment community.
A profit warning will be issued without undue delay if the Company’s view on the development of its short term outlook, sales, profitability or financial position has changed significantly, in either a negative or positive way, and is materially different compared to market expectations Metso Outotec’s President and CEO will estimate and decide, together with the Chair of the Board, whether there is a need to issue a profit warning. This assessment will be based on Metso Outotec’s previously issued statements, taking into consideration the outlook and prevailing market situation. A stock exchange release is always published in the case of a profit warning in line with the procedure relating to disclosing inside information.
Metso Outotec observes a silent period of 21 days prior to the announcement of financial results to prevent divulging financial information and to ensure equality. During the silent period, Metso Outotec‘s employees refrain from making any contacts or comments to investors, analysts and the media about the company’s business in general, prospects, financial results or projections.
If any incident that arises during a silent period is subject to timely disclosure, Metso Outotec will, however, without delay disclose the information according to the disclosure regulations and may comment that particular matter.
Changes in shareholding
Shareholders of listed companies have an obligation to notify both the Finnish Financial Supervision Authority and the listed company in question of changes in their holdings. Changes must be disclosed when 1) direct holdings, 2) holdings through financial instruments or 3) the sum of these reach, exceed, or fall below 5%, 10%, 15%, 20%, 25%, 30%, 50%, 90%, or two-thirds of a company’s voting rights or the total number of shares. Metso Outotec will publish this information in a stock exchange release without undue delay after the shareholder has notified Metso Outotec and Financial Supervision Authority of such a change.
Metso Outotec must statutorily issue a stock exchange release within three days of transactions made with Metso Outotec financial instruments and notified by a person with the duty to publicly notify (i.e. members of the Board of Directors and the CEO, see also Metso Outotec Insider Rules) or his/her closely associated person.
Rumors, market speculations and leaks
As a rule, Metso Outotec does not comment market rumors. However, if after due evaluation Metso Outotec deems that a rumor may have a significant effect on the prices of the financial instrument, Metso Outotec will respond timely and publish a Stock Exchange Release to correct the market information. In case a rumor, leak or market speculation is likely to include inside information, Metso Outotec discloses the proper and accurate information as soon as possible in accordance with applicable laws and regulations.
Metso Outotec Corporate Communications coordinates and publishes all public announcements to ensure the correct timing of the release, coordination with international markets and a wide and rapid dissemination of the information to all stakeholder groups.
Stock Exchange Releases
Metso Outotec discloses all matters which may have a significant effect on the prices of the company’s financial instruments, and thus are potentially price sensitive in nature, as stock exchange releases through the Nasdaq Helsinki without undue delay. However, if the conditions for delayed disclosure of the inside information are met, disclosure may be delayed. In the event of delayed disclosure, Metso Outotec notifies the Finnish Financial Supervisory Authority of the delay immediately after the inside information has been published.
Metso Outotec’s Business Areas and Market Areas have an obligation to advise and brief the Metso Outotec Executive Team on all potentially price sensitive decisions made, or matters arising within their businesses, and ensure that appropriate action is taken to prepare necessary public announcements. All potentially price sensitive matters shall be sent to Investor Relations, Corporate Legal and Corporate Communications for pre-assessment and drafting. Significant announcements, such as financial statements, interim reports, major acquisitions and top management appointments, are presented to the Board of Directors for comments and approval.
Metso Outotec discloses information on the following matters as a stock exchange releases:
Press releases and trade press releases
Metso Outotec publishes all other company announcements either as a press release or a trade press release. Metso Outotec may announce major orders received as press releases after they have been booked in the order intake.
In issues related to inside information, Metso Outotec complies with the applicable laws and regulations including MAR, the regulations and guidelines of the Finnish Financial Supervisory Authority, as well as Nasdaq Helsinki’s Guidelines for Insiders.
Metso Outotec's Insider Rules apply to information given to the company’s own personnel. Metso Outotec’s Insider Rules prohibit persons with the duty to publicly notify, as well as certain other persons defined by the General Counsel, from trading with Metso Outotec financial instruments during the closed window of 30 days prior to the publication of financial information. At all times, persons with the duty to publicly notify must get a permission from General Counsel before trading.
Metso Outotec's Insider Rules also give further guidelines on how the persons with the duty to publicly notify and their closely associated persons must inform Metso Outotec on any transaction exceeding EUR 5,000 cumulatively per annum with Metso Outotec financial instruments.
In the event of exceptional situation or crisis, the Metso Outotec Executive Team must be informed promptly.
Depending on the magnitude and type of the crisis, the Board of Directors or President & CEO of Metso Outotec will nominate a Crisis Management Team to handle the practical risk management and related communications in cooperation with Corporate Communications. Metso Outotec’s best experts in the relevant areas will be used to manage the exceptional situation.
Document approver: Board of Directors
Document owner: President & CEO
First approved: June 30, 2020
 Primarily the Market Abuse Regulation (MAR), the Finnish Companies Act and Finnish Securities Markets Act
 Securities Markets Act, Chapter 2, Sections 5, 6 & 7
 The Market Abuse Regulation, Article 19