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Wednesday, 27 December 2017

Outotec Oyj (FI) - Negative tax impact for Outotec from US tax reform

Outotec Oyj    

Published: 10:30 CET 27-12-2017 /GlobeNewswire /Source: Outotec Oyj / : OTE1V /ISIN: FI0009014575

Negative tax impact for Outotec from US tax reform

OUTOTEC OYJ   STOCK EXCHANGE RELEASE   DECEMBER 27, 2017   AT 11.30 AM

Negative tax impact for Outotec from US tax reform

The President of the United States signed on December 22, 2017 a tax reform legislation, which will reduce the USA federal corporate income tax rate from 35% to 21% from the beginning of the tax year 2018. According to a preliminary analysis, the change will cause Outotec a maximum EUR 10 million tax expense, which Outotec will reduce in the fourth quarter of 2017 according to the accounting principles from its deferred tax asset related to the tax receivables from the USA.

The reduction of the deferred tax asset does not have an impact on Outotec's cash flow or financial guidance for 2017, but it will weaken Outotec's reported earnings per share for 2017. In addition, the change does not impact the time frame when the deferred tax asset is expected to be utilized.

For further information please contact:

OUTOTEC OYJ
Jari Ã…lgars, CFO
Tel. +358 20 529 2007


DISTRIBUTION:
NASDAQ Helsinki
Main media
www.outotec.com

 

 

 

 






This announcement is distributed by Nasdaq Corporate Solutions (One Liberty Plaza, 165 Broadway, New York, NY 10006. Tel: +1 212 401 8700. www.nasdaqomx.com) on behalf of Nasdaq Corporate Solutions clients. Source: Outotec Oyj, PL 86, Espoo 02201, Suomi
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