Valmet changes its financial reporting structure and provides comparative segment information for 2021

HELSINKI, April 27, 2022 /PRNewswire/ — From January 1, 2022, Valmet has decided to modify its financial reporting structure in order to better highlight the performance of Valmet’s activities. The new reporting structure reflects Valmet’s operating model, anticipates the integration of Neles into Valmet and is aligned with how Valmet management monitors the operational performance of Valmet’s businesses.

Valmet consists of three reportable segments: Services, Automation and Process Technologies. In addition to orders received and net sales, Valmet will disclose segment profitability.

Valmet’s segments are:

  • The Services segment, which includes the Services business line

  • The Automation segment, which includes Flow Control (from April 1, 2022) and the Automation Systems professions

  • The Process Technologies segment, which includes the Pulp and Energy and Paper business segments.

The Services segment provides customers with flexible and tailored services throughout the lifecycle to improve process performance and reliability. The Automation segment provides flow control technologies and services as well as automation solutions ranging from single metering to plant or plant-wide process automation systems. The Process Technologies segment provides technology solutions for pulp and power generation, as well as biomass conversion and emissions control, as well as complete production lines, machine rebuilds and components of process for the production of cardboard, tissue paper and paper. Each segment has a strong position in the growing renewable energy conversion market and long-term growth opportunities supported by favorable megatrends.

Valmet will continue to report orders received and net sales for its business segments. Valmet’s business segments are Services, Flow Control, Automation Systems, Paper & Pulp, and Energy. The Automation Systems business area was previously called Automation. The reporting lines within Valmet’s management team remain unchanged.

In order to provide a basis for comparison, the following tables present Valmet’s segment financial information on an unaudited basis for the four quarters of 2021 and for the full year 2021. Valmet does not provide pro forma comparative figures for the Flow Control line of business.

Orders received, millions of euros

Q1/2021

Q2/2021

Q3/2021

Q4/2021

2021

Services

383

370

341

387

1,481

Automating

123

116

109

119

467

Automation Systems business area

123

116

109

119

467

Process Technologies

807

742

657

587

2,793

Pulp and Energy business area

458

320

145

237

1,160

paper craft

349

423

512

350

1,634

Total

1,312

1,228

1,107

1,093

4,740

Net sales, millions of euros

Q1/2021

Q2/2021

Q3/2021

Q4/2021

2021

Services

288

337

322

413

1,360

Automating

67

94

91

160

412

Automation Systems business area

67

94

91

160

412

Process technologies

503

512

522

626

2,163

Pulp and Energy business area

227

236

257

302

1,022

paper craft

275

277

265

324

1,141

Total

858

943

935

1,199

3,935

Comparable EBITA, in millions of euros

Q1/2021

Q2/2021

Q3/2021

Q4/2021

2021

Services

36

47

50

71

204

Automating

5

15

19

40

79

Process technologies

43

41

46

45

175

Other

-4

-8

-8

-ten

-30

Total

80

95

107

147

429

Comparable EBITA, % of net sales

Q1/2021

Q2/2021

Q3/2021

Q4/2021

2021

Services

12.6%

13.9%

15.5%

17.2%

15.0%

Automating

7.2%

16.4%

20.5%

25.2%

19.2%

Process technologies

8.5%

8.0%

8.9%

7.2%

8.1%

Total

9.4%

10.1%

11.4%

12.2%

10.9%

EBITA, millions of euros

Q1/2021

Q2/2021

Q3/2021

Q4/2021

2021

Services

41

47

50

72

210

Automating

4

16

19

43

83

Process technologies

43

41

46

44

173

Other

-7

-8

-4

-18

Total

89

97

107

155

448

EBITA, % of net sales

Q1/2021

Q2/2021

Q3/2021

Q4/2021

2021

Services

14.4%

14.0%

15.5%

17.3%

15.5%

Automating

6.6%

17.1%

21.0%

27.0%

20.1%

Process technologies

8.5%

7.9%

8.8%

7.0%

8.0%

Total

10.3%

10.3%

11.4%

12.9%

11.4%

Elements affecting comparability, in millions of EUR

Q1/2021

Q2/2021

Q3/2021

Q4/2021

2021

Services

5

1

6

Automating

1

3

4

Process technologies

-1

-2

-3

Other

4

1

6

11

Total

8

2

8

19

Depreciation, millions of euros

Q1/2021

Q2/2021

Q3/2021

Q4/2021

2021

Services

-2

-2

-1

-1

-6

Automating

-3

-3

-3

-3

-11

Process technologies

-2

-2

-2

-2

-8

Other

-6

-6

-5

-6

-24

Total

-13

-13

-12

-12

-49

For more information, please contact:

Pekka Rouhiainen, Director, Investor Relations, Valmet, tel. +358 10 672 0020

VALMET

Kari Saarinen

CFO

Pekka Rouhiainen

Director, Investor Relations

DISTRIBUTION:

Nasdaq helsinki

Main media

www.valmet.com

Valmet is one of the world’s leading developers and suppliers of process, automation and service technologies for the pulp, paper and energy industries. With our automation systems and flow control solutions, we serve an even broader base of process industries.

We aim to become the world champion in service to our customers. Our 17,000 professionals work close to our customers and are committed to improving our customers’ performance every day.

The company has over 220 years of industrial history and a solid track record of continuous improvement and renewal. In 2022, a major milestone was reached when the flow control company Neles was merged with Valmet. The company’s combined net revenue in 2021 was approximately 4.5 billion euros based on the company’s respective figures.

Valmet’s shares are listed on Nasdaq Helsinki and the head office is in Espoo, Finland.

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