Shares and Shareholders
Risks and Risk Management
Board of Directors' Reports
General market environment
The demand for Metso's products
Orders received and order backlog
Net sales
Cash flow and balance sheet
Capital expenditure
Revised strategy for Metso Automation
Integration of Metso Minerals
Corporate-wide synergy projects
Corporate acquisitions and divestments
Research and development
Changes in corporate management
Board of Directors and Auditors
Decisions of the Annual General Meeting
Events after the review period
Short-term outlook
Board of Directors' proposal for the distribution of profit
Annual General Meeting
Consolidated Statements of Income
Consolidated Balance Sheets
Consolidated Statements of Cash Flows
Consolidated Statements of Changes in Shareholders' Equity
Notes to Consolidated Financial Statements
Parent Company Statement of Income
Parent Company Balance Sheet
Parent Company Statement of Changes in Shareholders' Equity
Financial Indicators 1998-2002
Formulas for Calculation of Indicators
Auditor's Report
Quarterly Information
Exchange Rates Used

Corporate acquisitions and divestments

In April Metso sold Metso Works, a company with engineering workshop operations in Pori, Parkano and Loviisa, Finland to Hollming Oy. Metso Works' net sales in 2001 totaled EUR 38 million and its personnel numbered 532.

In September, Metso acquired YIT's shareholding in Scandinavian Mill Service Oy, i.e. 51 percent of the company's shares. After this, Metso owns the entire share capital of Scandinavian Mill Service. The company's net sales in 2001 were EUR 5.3 million and its personnel numbered 140. The acquisition is in line with Metso's aim to expand its scope in daily service operations for the pulp and paper industry.

In November, Metso signed a memorandum of understanding with the Swiss Bobst Group SA for the sale of its Converting Equipment group. The transaction is intended to be completed in the first quarter of 2003. The value of the transaction is approximately EUR 90 million, corresponding to the group's book value in Metso's balance sheet.

In December, Metso signed a memorandum of understanding for the sale of its foundry operations, located in Karlstad, Sweden, to a newly established company, which is owned by Åkers AB and Metso Paper Karlstad AB. Åkers AB will initially hold 51 percent of the shares in the new company, and it has an option to acquire the rest of the shares later.