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Negative tax impact for Outotec from US tax reform

PR-Inside.com: 2017-12-27 10:33:03

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 Ålgars, CFO
Tel. +358 20 529 2007


DISTRIBUTION:
NASDAQ Helsinki
Main media
www.outotec.com





This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Outotec Oyj via Globenewswire




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