Metso Corporate Newsroom News 2007 Outotec Oyj - Interim Report January-September 2007
Stock exchange release October 25, 2007

Outotec Oyj - Interim Report January-September 2007


Interim Report January-September 2007

Operating profit more than doubled

Q1-Q3/2007 reporting period in brief (2006 corresponding figures in parentheses):
- Sales: EUR 684.6 million (EUR 500.9 million)
- Operating profit: EUR 63.1 million (EUR 28.6 million)
- Profit before taxes: EUR 68.7 million (EUR 33.2 million)
- Earnings per share: EUR 1.20 (EUR 0.48)
- Order intake: EUR 1,078.8 million (EUR 796.9 million)
- Order backlog at the end of the period: EUR 1,264.4 million (EUR 878.6 million)
- Net cash flow from operating activities: EUR 97.7 million (EUR 20.4 million)

Q3/2007 in brief (2006 corresponding figures in parentheses):
- Sales: EUR 245.9 million (EUR 179.9 million)
- Operating profit: EUR 26.0 million (EUR 14.5 million)
- Profit before taxes: EUR 28.8 million (EUR 17.5 million)
- Order intake: EUR 417.9 million (EUR 370.9 million)

CEO Tapani Järvinen:
"Outotec's third quarter was as strong as the second quarter, which is evidenced by many record high figures. Our order backlog strengthened to an all-time high level. New orders are based on our proprietary technologies, and we have also succeeded in commercializing some new technologies and in expanding the scope of our deliveries. Our internal efficiency and global resource network together with higher volumes continued to have a positive impact on profitability. The continuing robust market activity in mining and metals sector gives us good visibility and a solid platform for 2008."


Demand for Outotec's minerals and metals technologies and services continues to be strong. Following good financial performance, strong order intake and backlog, coupled with sufficient resources, the management expects that:

- sales for the full-year of 2007 will moderately exceed EUR 1 billion; and
- operating profit will grow significantly from the 2006 level and is expected to moderately exceed EUR 90 million, subject to the timing of project completions and the product mix of the new orders received.



Market demand for Outotec's products and services for the mining and metals industry continued to develop favorably during the reporting period. New prospects further increased, because of the strong cash position of mining and metals companies. Outotec's customers have initiated projects related to technologies for iron ore, aluminum, copper, nickel, zinc, and precious metals. Also, other process industries, outside mining and metals industries, were more active in the reporting period.

In the reporting period, major mining and metals companies have updated their investment plans for the next three to five years in anticipation of continuing growth in the global consumption of metals. In addition, these companies are actively looking for new expansion opportunities and avenues for rapidly satisfying the growth in demand foreseen for metals.


Orders received in January-September 2007 totaled EUR 1,078.8 million (Q1-Q3/2006: EUR 796.9 million), representing growth of 35.4 % from the previous year's corresponding figure. Third-quarter order intake totaled EUR 417.9 million (Q3/2006: EUR 370.9 million). Orders received in the third quarter, included deliveries to new customers and several repeat orders from the existing customers.

In the third quarter, two major technologies were commercialized in connection with the anode plant delivery for the Dubai Aluminium smelter and the Talvivaara nickel project.

Major new orders in the third quarter of 2007 included:
- an alumina calcination plant for Companhia Brasileira de Aluminio S.A. in Aluminio, Sao Paulo state, Brazil (EUR 40 million);
- a new green anode plant and spent anode crushing facility for Dubai Aluminium Company's aluminum smelter in Abu Dhabi (EUR 100 million);
- a chromite pelletizing and sinter plant for Samancor Chrome in South Africa (EUR 15 million);
- iron ore sintering technology for Tata Steel's new Kalinganagar steel plant in India (EUR 35 million);
- metals recovery technology including reactors and thickeners for Talvivaara nickel project in Sotkamo, Finland (EUR 40 million);
- grinding technology for Boliden Aitik in Sweden and Tara Mine's lead-zinc ore project in Ireland;
- grinding technology for Kazzinc of Kazakhstan;
- a new zinc roaster with gas cleaning and sulfuric acid plant for OZK Kardzhali for the zinc smelter expansion in Bulgaria (EUR 25 million);
- an iron ore sinter plant for JSW Steel's integrated steelworks at Toranagulla, India; and
- a drinking water treatment facility for the eastern coastal towns of Ampara District in Sri Lanka (USD 100 million). The order will become effective after the approval of the finance agreement between the government of Sri Lanka, the Australian and New Zealand Banking Group Ltd., and Export Finance Insurance Corporation of Australia.

Major new orders in the second quarter of 2007 included:
- grinding technology for Mirabela Nickel of Australia, for the Santa Rita nickel sulfide project in Bahia state, Brazil;
- grinding technology for Adanac Molybdenum of Canada for the Ruby Creek molybdenum project in British Columbia, Canada;
- grinding technology for Shalkiya Zinc for the Shalkiya zinc-lead project in Kazakhstan;
- a second gas cleaning plant for the new 208 MW Bluewaters Power Station for IHI Engineering in Australia;
- design and expansion of heavy mineral sands processing plants for Sierra Rutile Ltd., a subsidiary of Titanium Resources Group Ltd. in Sierra Leone, Western Africa;
- two turntable anode vibrocompactors for Gansu Hualu Aluminum Co. Ltd. in Gansu Province, China;
- two sow casting systems for Henan Wanji Aluminum Co. Ltd. in China;
- one vibrocompactor to Qingtongxia Qingxin Fangyuan Carbon Co. Ltd, which belongs for Qingtongxia Aluminum Group Co. Ltd. in Ningxia Province, China;
- a second chromite pellet plant for Kazchrome's Donskoy chrome mine in Kazakhstan. The new pellet plant, in combination with Outotec's earlier delivery of a similar plant in 2005, will be the world's largest production unit for chromite pellets (EUR 40 million);
- the world's largest sulfuric acid plant delivery, to Ma'aden (EUR 270 million);
- two alumina calciners for ZAO Komi Aluminium's Sosnogorsk Alumina Refinery in the Republic of Komi, Russia (EUR 20 million).

Major new orders in the first quarter of 2007 included:
- silver refinery equipment for the JSC Krasnoyarsk Non-Ferrous Metals Plant in Russia;
- a complete thickening circuit for Boddington Gold Mine in Australia;
- a zinc plant expansion with new, environmentally advanced leaching technology for Hunan Zhuye Torch Metals Co. Ltd. in China (EUR 30 million);
- modernization of a Flash Smelting production line for Norilsk Nickel's  Nadezha metallurgical plant in Russia (EUR 16 million); this project was in the backlog already at year-end 2006, due to the effectiveness of the contract;
- three TankCell®-300 flotation cells for OceanaGold's Macraes operation in New Zealand;
- a gas cleaning plant for the new 208 MW Bluewaters Power Station for IHI Engineering in Australia;
- KALDO precious metals technology for Tongling Nonferrous Metals (Group) Inc. in China;
- a copper converter and gas handling technology for Engineering Dobersek GmbH's new copper smelter of Kazzinc in Kazakhstan.


The order backlog at the end of September 2007 totaled EUR 1,264.4 million (September 30, 2006: EUR 878.6 million). The value of the order backlog represents growth of 44% from the previous year's corresponding figure and increased by 46% from the year-end 2006 level due to the record high order intake in the reporting period.

At the end of the third quarter of 2007, the order backlog included 25 projects with a value in excess of EUR 10 million, accounting for 65% of the total backlog. Due to the timing of the projects, the fluctuations in quarterly order intake and backlog do not in themselves represent the overall market conditions, and they indicate no trend change. According to the management's estimate, some 25% of the current backlog will be delivered in 2007, and the rest in 2008, 2009, and beyond.


Outotec's sales in the reporting period totaled EUR 684.6 million (Q1-Q3/2006: EUR 500.9 million), up 37% from the 2006 corresponding figure. All divisions contributed to the organic growth of the company. After-sales business, which is included in the divisions' sales figures, contributed EUR 51.8 million (Q1-Q3/2006: EUR 39.1 million) to the sales. Third-quarter sales came to EUR 245.9 million (Q3/2006: EUR 179.9 million), up 37% from the corresponding 2006 level.

The operating profit for the reporting period was more than double that of the same period in 2006 and was EUR 63.1 million (Q1-Q3/2006: EUR 28.6 million), representing 9.2% of sales (Q1-Q3/2006: 5.7%). 

Operating profit for the third quarter of 2007 was EUR 26.0 million (Q3/2006: EUR 14.5 million), and the corresponding profit margin was 10.6% (Q3/2006: 8.1%).

During the reporting period, the positive profit development was attributable to the increased volume of sales, better project mix, successful project execution, releases of project provisions, and license fee income. In the third quarter, the operating profit further improved, because of the impact of license fee income, successful project deliveries, and the higher than planned percentage of completion in certain projects.

Profitability improvement was also impacted by the fair valuation of the unrealized currency hedging contracts between the euro and the U.S. dollar, which are not included in hedge accounting.

At the beginning of the third quarter in 2007, Outotec started to apply cash flow hedge accounting to one project in accordance with IAS 39 to hedge its exposure to EUR/USD foreign exchange rate fluctuations inherent to USD denominated cash flows. In the third quarter, Outotec recognized gains of EUR 0.2 million in the income statement and reserved gains of EUR 7.6 million in equity.

Outotec's fixed costs in the reporting period were slightly higher than in the corresponding period of 2006. An increase in administration costs came from the change in Outotec's company status to a listed company on October 10, 2006, and subsequent strengthening of some management and support functions as well as the finalization of the information technology separation from the former parent company. Research and technology development expenses were somewhat higher in the reporting period than in the corresponding period of 2006.

Outotec's profit before taxes for the reporting period was EUR 68.7 million (Q1-Q3/2006: EUR 33.2 million). The profit before taxes was affected by the net interest income from high net cash position. Net profit for the reporting period was EUR 50.4 million (Q1-Q3/2006: EUR 20.1 million). In addition, the net profit was improved by the effective tax rate reduction due to tax reform enacted in Germany. Earnings per share were EUR 1.20 (Q1-Q3/2006: EUR 0.48).

Outotec's return on equity for the reporting period was 40.5% (Q1-Q3/2006: 22.6%), and return on investment was 56.9% (Q1-Q3/2006: 38.4%).

The Minerals Processing division's sales in the reporting period totaled EUR 192.4 million (Q1-Q3/2006: EUR 161.3 million). Operating profit was EUR 8.9 million, showing a significant increase from the previous year's level (Q1-Q3/2006: EUR -0.4 million). The improvement in the division's operating profit resulted from growth in sales, efficiency improvement in project implementation and better project mix. Profit generation for the Minerals Processing division is typically weaker in the first half of the year and stronger in the second half due to the seasonality within a fiscal year.

Base Metals

The Base Metals division's sales in the reporting period totaled EUR 188.6 million (Q1-Q3/2006: EUR 138.8 million) and operating profit was EUR 34.7 million (Q1-Q3/2006: EUR 16.9 million). The growth in sales and the increased proportion of proprietary technologies in deliveries significantly improved the division's profitability. In addition, some license fee income and the completion of four long-term projects in the reporting period had a favorable impact on the operating profit.

Metals Processing

The Metals Processing division's sales grew significantly during the reporting period and totaled EUR 311.4 million (Q1-Q3/2006: EUR 201.4 million). The growth came from the ferrous technologies at the beginning of the year and new aluminum and sulfuric acid plant as well as roasting plant orders during the reporting period. The operating profit improved to EUR 26.6 million (Q1-Q3/2006: EUR 15.9 million), which was due to the volume growth, releases of contingencies after some successful project completions and project margin improvement.


Net cash flow from operating activities for the reporting period was strong, EUR 97.7 million (Q1-Q3/2006: EUR 20.4 million). Compared to the corresponding period in 2006, significant improvement in net cash flow from operating activities was achieved. The main reasons for the improvement were good result and decrease in working capital. The parent company paid EUR 14.7 million in dividends in April 2007.

Outotec's working capital amounted to EUR -145.6 million on September 30, 2007 (September 30, 2006; EUR -97.9 million). Significant positive improvement on the working capital was impacted mainly by the advances received in relation to new project orders and payment terms.

The balance sheet remained strong. Net interest-bearing debt on September 30, 2007, was EUR -247.8 million (September 30, 2006: EUR -126.6 million). The advances received at the end of the reporting period totaled EUR 167.6 million (September 30, 2006: EUR 156.4 million). Outotec's gearing at the end of the reporting period was -131.6% (September 30, 2006: -99.7%), and the equity-to-assets ratio was 40.1% (September 30, 2006: 40.9%).

The company's capital expenditure in the reporting period was EUR 9.9 million (Q1-Q3/2006: EUR 5.5 million), which consisted mainly of costs related to the separation from the former parent company in terms of information technology, investments in intellectual property rights (IPRs), and maintenance investments.

Guarantees for commercial commitments, including advance payment guarantees issued by the parent and other Group companies, came to EUR 347.1 million at the end of the reporting period, showing an increase from the previous year's level relative to business growth (September 30, 2006: EUR 192.9 million).


Outotec's research and technology development expenses for the reporting period totaled EUR 14.3 million (Q1-Q3/2006: EUR 12.8 million), representing 2.1% of sales (Q1-Q3/2006: 2.6%). Outotec filed 28 new priority patent applications, and 211 new national patents were granted in the reporting period.

Development of bioleaching technology began in 1987 at Outotec's research center in Pori, Finland, in order to find a process that could be used to recover metals from the low-grade Talvivaara nickel ore. The progress of the Talvivaara nickel project in Sotkamo, Finland, represents an important step in the commercialization of bioleaching. The new bioleaching technology is now in commercial use, providing economical use of the low-grade nickel deposits.

In July 2007, Outotec achieved a new breakthrough with its aluminum technology when an agreement was signed with Dubai Aluminium Company for the supply of a new green anode plant and spent anode-crushing facility for the aluminum smelter in Abu Dhabi. The new plant is based on the latest technical development; including a special grinding and mixing concept as well as innovative Regenerative Thermal Oxidization technology for efficient pitch fume treatment.

In June 2007, Outotec strengthened its halide technology know-how, on which the HydroCopper® process is based, by entering into a collaboration agreement in the field of chloride hydrometallurgy with Intec Ltd. of Australia. Under the agreement, Intec makes available to Outotec its globally patented mixed halide technology, which enhances the recovery of gold and other precious metals from mineral ores and concentrates.  

During the first quarter of 2007, Outotec commercialized two new products. First, Outotec signed an agreement with the leading Chinese zinc producer, Hunan Zhuye Torch Metals Co. Ltd., on the design and delivery of a zinc plant expansion with new environmentally advanced leaching technology. Secondly, Outotec agreed to deliver three TankCell®-300 flotation cells to OceanaGold's Macraes operation in New Zealand. The TankCell®-300, with an active capacity of over 300 m3, is the largest mechanical flotation cell in the world.

In the first quarter, Outotec complemented its technologies by acquiring the Chena® (Chemistry Navigator) trademark from the Finnish company Liqum. The technology acquisition will further improve Outotec's competitiveness in the fields of minerals processing and hydrometallurgical process solutions. Chena® technology is a patented technique for improving the efficiency of production processes.

Outotec's research centers in Pori and Frankfurt were active in carrying out in-house development and implementation projects as well as test-work for customers.


At the end of the reporting period, Outotec had a total of 2,121 employees (September 30, 2006: 1,815). Over the first three quarters, Outotec had an average of 1,980 employees (Q1-Q3/2006: 1,830). The number of personnel increased by 306 from the corresponding period of 2006 due to business growth and the accompanying active recruitment. Temporary employees accounted for some 15% of the total number of employees.

Distribution of personnel by country

*Reporting method in Germany included also subcontractors.

In addition to the personnel on Outotec's payroll, at the end of the reporting period the company was using for project engineering, management and construction roughly 500 subcontractors (full-time equivalent). The number of subcontractors at any given time changes, depending on the active project mix and local rules and regulations.


On March 23, 2007, Outotec published a share-based incentive program. The purpose of the incentive program is to obtain key employees' commitment and to encourage them in achieving the company's financial targets, as well as to increase the company's shareholder value. Some 20 key employees are participants in the two-year share-based incentive program. The earnings period started on January 1, 2007 and ends on December 31, 2008.

The reward paid to the key personnel is determined by the achievement of the targets set for the development of the company's net profit and order backlog. The reward is paid in shares and as a cash payment (which roughly covers income taxes payable for the reward). The shares will be allocated to the key personnel in the spring of 2009. The maximum reward of the incentive program is EUR 6.7 million.


Outotec's shares were entered in the Finnish Book-Entry Securities System on September 22, 2006. The company's share capital is EUR 16.8 million, consisting of 42.0 million shares. The counter-book value of the share is EUR 0.40 per share. Each share entitles its holder to one vote at general meetings of shareholders of the company. At the end of the reporting period, the company did not hold any treasury shares. At the end of the reporting period, shares held in 15 nominee registers accounted for 87.66% of all Outotec shares.


Outotec's shares are listed on the OMX Nordic Exchange Helsinki (OTE1V). In the reporting period, the highest quotation for a share in the company was EUR 49.55 and the lowest EUR 19.25. The trading of Outotec shares during the reporting period exceeded 103.7 million shares, with a total value of over EUR 3,430 million. On April 27, 2007, the former parent company, Outokumpu Oyj, sold its remaining stake, 12%, in Outotec Oyj. On September 30, 2007, Outotec's market capitalization was EUR 2,079 million.


The Outokumpu Technology Oyj's Annual General Meeting (AGM) was held on April 2, 2007, in Espoo, Finland. The AGM approved the parent company's and the group's Financial Statements, and discharged the members of the Board of Directors and the CEO from liability for the 2006 financial year. The AGM decided that a dividend of EUR 0.35 per share be paid for the financial year that ended on December 31, 2006. The dividend record date was April 5, 2007, and the dividends (totaling EUR 14.7 million) were paid on April 17, 2007.

The AGM decided that the number of Board members, including Chairman and Vice Chairman, should be five (5). Mr. Carl-Gustaf Bergström, Mr. Karri Kaitue, Mr. Hannu Linnoinen, Mr. Anssi Soila and Mr. Risto Virrankoski were re-elected as members of the Board of Directors for the term expiring at the end of the next AGM. The AGM re-elected Mr. Risto Virrankoski as the Chairman and Mr. Karri Kaitue as the Vice Chairman of the Board of Directors.

The AGM confirmed the monthly remunerations paid to the Board members as follows: Chairman EUR 3,000, Vice Chairman EUR 2,500, and other Board members EUR 2,000, and in addition a meeting remuneration of EUR 500 per meeting for each Board member.

KPMG Oy Ab, Authorized Public Accountants, was re-elected as the company's auditor, with Mauri Palvi as auditor in charge. The fees for the auditor are paid according to invoice.

Amendment to the Articles of Association and company's business name

The AGM approved the amendments to the Articles of Association, including the change of the company's business name, to Outotec Oyj. The change of business name became effective on April 24, 2007. Other amendments include the technical revision of the company's line of business and the election procedure of the Vice Chairman of the Board, and other amendments of a technical nature.


The AGM authorized the Board of Directors to resolve upon issues of shares as follows:

- The authorization includes the right to issue new shares, distribute own shares held by the company, and the right to issue special rights referred to in Chapter 10, Section 1 of the Companies Act. This authorization to the Board of Directors does not, however, entitle the Board of Directors to issue share option rights as an incentive to the personnel.
- The total number of new shares to be issued and own shares held by the company to be distributed under the authorization may not exceed 4,200,000 shares.
- The Board of Directors is entitled to decide on the terms of the share issue, such as the grounds for determining the subscription price of the shares and the final subscription price as well as the approval of the subscriptions, the allocation of the issued new shares, and the final amount of issued shares.

The authorization shall be in force until the end of the next AGM.

The Annual General Meeting authorized the Board of Directors to resolve upon the repurchase of the company's own shares as follows:

- The company may repurchase the maximum number of 4,200,000 shares using free equity and deviating from the shareholders' pre-emptive rights to the shares, provided that the number of own shares held by the company will not exceed ten (10) percent of all shares of the company.
- The shares are to be repurchased in public trading at the OMX Nordic Exchange Helsinki at the price established in the trading at the time of acquisition.

The authorization shall be in force until the end of the next AGM. The authorizations have not been exercised by October 25, 2007.


In October, Outotec was awarded a contract by Votorantim Metais for the supply of a complete zinc roasting plant including roasting, gas cleaning and sulfuric acid plant, to be built in Cajamarquilla, Peru. The value of the contract exceeds EUR 80 million.

Also in October, the company announced a contract with Hellas Gold in Greece for the supply of a large technology package for Hellas Gold's copper-gold concentrator plant in Skouries in northern Greece. Outotec's delivery for the project covers proprietary technologies for grinding, flotation, thickening, and automation - including engineering and commissioning services. The value of the contract exceeds EUR 30 million. 


Depending on the size and type of a project, project risks related to offering and implementation phase are evaluated on a monthly and quarterly basis. Because of the continuing robust global market conditions, the company may experience some challenges in recruiting and retaining skilled and experienced personnel in certain regions.

In the third quarter risk assessment, it was noted that a construction cost related risk in one large ongoing project had been realized and therefore some contingencies were used. There is still a further risk that material and labor costs may rise later during the implementation of the project.

Generally, high demand has led to a shortage of certain components and equipment, and availability has remained tight in some regions affecting delivery times and profit recognition.

Risks related to new commercialized products were evaluated and quantified, and the necessary provisions were reserved.

More than half of Outotec's total cash flow is denominated in euros, and the rest is divided among various currencies, which include U.S. dollar, Brazilian real, and Australian dollar. However, depending on the new projects, the weight of any given currency can change materially, the majority of cash-flow-related risks are hedged in the short and long term. The forecasted and probable cash flows are hedged selectively and are always based on separate decisions and risk analysis.


Demand for Outotec's minerals and metals technologies and services continues to be strong. Following good financial performance, strong order intake and backlog, coupled with sufficient resources, the management expects that:

- sales for the full-year of 2007 will moderately exceed EUR 1 billion; and
- operating profit will grow significantly from the 2006 level and is expected to moderately exceed EUR 90 million, subject to the timing of project completions and the product mix of the new orders received.

Espoo, October 25, 2007

Outotec Oyj
Board of Directors

For further information, please contact:

Outotec Oyj
Tapani Järvinen, CEO
tel. +358 20 529211

Vesa-Pekka Takala, CFO
tel. +358 20 529211, mobile +358 40 5700074

Eila Paatela, Vice President - Corporate Communications
tel. +358 20 5292004, mobile +358 400 817198

Rita Uotila, Vice President - Investor Relations
tel. +358 20 5292003, mobile +358 400 954141

Format for e-mail addresses: firstname.lastname(at)


Interim financial statements are prepared in accordance with IAS 34 Interim Financial Reporting in keeping with the accounting policies and methods as in the recent annual financial statements. These interim financial statements are unaudited.

The comparison figures for 2006 are based on combined financial statements, which have been prepared so that business structure and combined financial information of Outotec would fairly present the result of operations, cash flows and financial position of Outotec's current operations.

Adoption of hedge accounting according to IAS 39 Financial instruments: recognition and measurement

Starting from July 1, 2007, Outotec is applying cash flow hedge accounting for one project to hedge its exposure to EUR/USD foreign exchange rate fluctuations inherent to USD denominated cash flows. The hedge results are recognized in the income statement in the same periods as the project revenue. The hedged cash flows are customer prepayments that are recognized as revenue in the income statement using the percentage of completion method. The respective proportion of the hedge results has been recognized in the income statement as an adjustment to sales, and the remaining part in the cash flow hedge reserve in equity. The amounts in the cash flow hedge reserve also include a respective proportion of the realized result of hedges of customer prepayments that have already taken place but not recognized in income statement.

Use of estimates

The preparation of the financial statements in accordance with IFRS requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, as well as the disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of income and expenses during the reporting period. Accounting estimates are employed in the financial statements to determine reported amounts, including the realizability of certain assets, the useful lives of tangible and intangible assets, income taxes, provisions, pension obligations, impairment of goodwill and other items. Although these estimates are based on management's best knowledge of current events and actions, actual results may differ from the estimates.

Adoption of new and amended standards and interpretations

Outotec has adopted the following new standards, renewed standards and interpretations when they are effective.

- IFRS 7 Financial instruments: Disclosures (effective date January 1, 2007) and

- Amendment to IAS 1 - Presentation of financial statements: Capital disclosures  (effective date January 1, 2007).

The adoption of these new standards will mainly have impact on the disclosure information on the 2007 financial statements.

- IFRIC 8 - Scope of IFRS 2 (effective date May 1, 2006)
- IFRIC 9 - Reassessment of Embedded Derivatives (effective date June 1, 2006) and
- IFRIC 10 Interim Financial Reporting and Impairment (effective date November 1, 2006).

The adoption of these interpretations will not have impact on 2007 financial statements. 

Outotec will estimate the impacts on the disclosure information for the following standard in 2008:

IFRS 8 Operating segments (effective date January 1, 2009). The standard has not yet been approved to be applied in the EU.

*)Unallocated items primarily include invoicing of internal management  and administrative services.
**)Unallocated items primarily include management and administrative services and share of result of associated companies.


A briefing, in which CEO Tapani Järvinen and CFO Vesa-Pekka Takala will present the interim report, will be held in Helsinki, Finland.

Date: Thursday, October 25, 2007
Time: 2.15-3.00pm (EEST)
Venue: Hotel Marski, Meeting room Carl, Mannerheimintie 10

You may follow the briefing via a live audio webcast at Please, click in and register approximately 5 to 10 minutes before the briefing.

You may also join the briefing by telephone. To register as a participant for the teleconference, please dial in 5-10 minutes before the beginning of the event:

FI/UK: +44 20 7162 0125
US/CANADA: +1 334 323 6203
Password: Outotec

In addition, an instant replay service of the conference call will be available until October 28 midnight on the following numbers:

FI/UK: +44 20 7031 4064
US/CANADA: +1 954 334 0342
Access code: 770487

The contact information is gathered for registration purposes only and it is not used for commercial purposes.



Outotec will disclose the following financial information in 2008:

Financial statements for January-December 2007, on Friday, February 1, 2008
Interim report for January-March 2008, on Wednesday, April 23, 2008
Interim report for January-June 2008, on Wednesday, July 23, 2008
Interim report for January-September 2008, on Thursday, October 23, 2008

The Outotec Annual General Meeting will be held on Wednesday, March 19, 2008, in Espoo, Finland.

Outotec's Annual Report 2007 will be published in week 10.

OMX Nordic Exchange Helsinki
Main media
Outotec Interim Report Q3 2007 Download