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.
Sulzer is a global leader in fluid engineering. We specialize in pumping, agitation, mixing, separation and purification technologies for fluids of all types. Our customers benefit from our commitment to innovation, performance and quality and from our responsive network of 180 world-class manufacturing facilities and service centers across the globe. Sulzer has been headquartered in Winterthur, Switzerland, since 1834. In 2021, our 13’800 employees delivered revenues of CHF 3.2 billion. Our shares are traded on the SIX Swiss Exchange (SIX: SUN). www.sulzer.com