Restructuring measures

In 2009, Wärtsilä began the process of adapting its activities to lower demand through various restructuring measures with the aim of reducing approximately 1,800 persons. This target has nearly been reached and the remainder of the reductions will materialise in 2012. It is estimated that the reductions will decrease costs by approximately EUR 130 million. Of these cost savings, about EUR 60 million had materialised by the end of 2010 and about EUR 60 million materialised during 2011. The remainder of the cost savings will materialise in 2012. Wärtsilä anticipates that the majority of these cost savings will be permanent. The total nonrecurring costs related to the restructuring will be approximately EUR 150 million, out of which EUR 115 million has been recognised by the end of 2010. In the financial period January-December 2011, Wärtsilä recognised EUR 24 million (75) of nonrecurring items related to the restructuring measures. The remainder of the restructuring costs will be recognised in 2012.

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