Ad hoc announcement pursuant to Art. 53 LR
July 01, 2022Sulzer to write off assets in Russia and Poland
Following the Board’s decision to initiate the process of exiting the Russian market and the closing of the Polish businesses, the company has decided to write off most of its assets in both countries.
After careful analysis of all options, Sulzer expects a one-time impact in the range of CHF 125m to CHF 135m at current foreign exchange rates. CHF 125m will be recognized in H1 of 2022.
The one-time asset write-offs will have no significant impact on Sulzer’s operational results, however on Net Income, which was CHF 86m for H1 2021 and CHF 141m for the full year, respectively. Sulzer will report its H1 results on July 29, 2022.
This document may contain forward-looking statements including, but not limited to, projections of financial developments, market activity, or future performance of products and solutions containing risks and uncertainties. These forward-looking statements are subject to change based on known or unknown risks and various other factors that could cause actual results or performance to differ materially from the statements made herein.Your spokesperson
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Domenico Truncellito
Group Head of External Communications
Sulzer Management Ltd
8401 Winterthur
Switzerland
Investor relations
Thomas Zickler
Chief Financial Officer
Sulzer Management Ltd
8401 Winterthur
Switzerland