Wärtsilä sets 2003 profitability target required for 2002 option scheme

Wartsila Corporation
  • Stock exchange release
19 December 2002 at 2:01 AM FLE Standard Time

Wärtsilä Corporation STOCK EXCHANGE RELEASE 19.12.2002, 8.30 AM

Wärtsilä has set the minimum profitability target for 2003 required as a condition for implementation of the option scheme approved by Wärtsilä’s annual general meeting in 2002. Under the terms of the scheme, the share subscription will start on 1 April 2004 provided that the company reaches a minimum operating margin of 4% in 2003.

The profitability target for the Power Divisions continues to be 7-8% but, as the company announced in September, this target will not be reached in 2003 owing to market conditions.

Further information: CFO Raimo Lind, tel. +358 10 7095 640.