Outotec Oyj : Outotec's Financial Statements Review 2012

           Outotec Oyj : Outotec's Financial Statements Review 2012

OUTOTEC OYJ    FINANCIAL STATEMENTS REVIEW    FEBRUARY 7, 2013 AT 9.00
AM

FINANCIAL STATEMENTS REVIEW JANUARY-DECEMBER 2012

Strong profitable growth, sales exceeded EUR 2 billion, profit up by 60%

Board of Directors dividend proposal: EUR 1.20 per share

Reporting period January-December 2012 in brief (2011)

  *Order intake: EUR 2,084.4 million (EUR 2,005.4 million), +4%

  *Sales: EUR 2,087.4 million (EUR 1,385.6 million), +51%

  *Operating profit from business operations*): EUR 193.8 million, 9.3% of
    sales (EUR 121.5 million, 8.8%), +60%

  *Earnings per share: EUR 2.82 (EUR 1.75), +61%
    

October-December 2012 in brief (2011)

  *Order intake: EUR 471.2 million (EUR 327.0 million), +44%

  *Sales: EUR 649.8 million (EUR 496.8 million), +31%

  *Operating profit from business operations*): EUR 74.0 million, 11.4% of
    sales (EUR 54.9 million, 11.0%), +35%

Revised financial guidance for 2013 (earlier guidance in parenthesis)

Based on the strong order backlog, current market outlook and the customer
tendering activity, the management expects that in 2013:

  *Sales will be approximately EUR 2.1-2.3 billion (grow from 2012), and

  *Operating profit margin from business operations*) will be approximately
    9.5-10.5% (further improve from 2012)

*) excluding one-time items and purchase price allocations (PPA) amortizations

President and CEO Pertti Korhonen:

"The year 2012 was very successful for Outotec and an important milestone in
our strategy implementation. For the first time, our sales exceeded two
billion euros. We also managed to improve our profitability in line with our
long term targets.

Despite the sluggish world economy, the demand for our technologies and
services continued solid throughout the year and our sales grew faster than
the market. Our customers' investment decisions are increasingly driven by
environmental and energy efficiency factors, which boosted the demand for our
advanced technologies. Environmental Goods and Services accounted for
approximately 89% of our 2012 order intake (by OECD criteria), consisting of
sustainable solutions for minerals and metals processing and environmental
solutions including gas cleaning, sulfuric acid, alternative and renewable
energy.

The growth in our minerals and metals processing solutions continued strong
with new breakthroughs. The most significant and the largest single order in
Outotec's history was the turn-key ilmenite smelter delivery to Cristal Global
in Saudi Arabia. Our non-ferrous solutions business progressed strongly on all
fronts. In the environmental solutions business, we made very good progress
especially in waste-to-energy and industrial water treatment business and
received several orders. We successfully continued to grow our services
business both organically and through acquisitions, and we expanded our life
cycle services offering. I am especially delighted with the long term
operation and maintenance contract with the Russian Copper Company's
Mikheevsky concentrator (published in January 2013), and I strongly believe
that this type of service solutions leveraging our unique competence in
process technology offers considerable growth opportunities for us in the
future. 

We launched our current operational model and strategy in 2010 as a platform
for sustainable growth. These initiatives have been very successful,
delivering strong profitable growth even beyond our own expectations. I would
like to thank our employees for their great spirit, dedication, and the great
results. In addition to a good financial result, their commitment was
demonstrated in the high participation rate of 34% in Outotec's Employee Share
Savings Plan launched in the fourth quarter of 2012.

The mood in the world economy has somewhat improved during the past few months
but the positive trend is still fragile. Uncertainty in the market may delay
our customers' decisions to invest in new production capacity, impacting our
order intake development going forward. We believe that environmental
investments will further increase as governments are paying more and more
attention to the necessity of sustainable development, also in developing
markets.

Our strong order backlog gives us a good start in 2013, and we believe that
there are plenty of growth opportunities for all our business areas. Sales
growth in 2013 is forecasted to be moderate due to only slightly higher order
intake in 2012 compared to previous year. We plan to continue to boost our
growth through acquisitions, in addition to organic development. Since 2010 we
have acquired and successfully integrated 12 companies, four of these in 2012.
Besides growth, we plan to improve further our profitability and develop our
operations in line with our strategy. Our mission is "Sustainable use of
Earth's natural resources" and we will continue our work towards this also in
2013."

Summary of key figures                              Q4      Q4   Q1-Q4   Q1-Q4
                                                  2012    2011    2012    2011
Sales, EUR million                               649.8   496.8 2,087.4 1,385.6
Gross margin, %                                   21.8    23.9    20.8    24.0
Operating profit from business operations, EUR    74.0    54.9   193.8   121.5
million
Operating profit from business operations, %      11.4    11.0     9.3     8.8
Operating profit, EUR million                     74.9    48.9   184.3   111.9
Operating profit margin, %                        11.5     9.9     8.8     8.1
Profit before taxes, EUR million                  72.3    50.8   179.7   113.3
Net cash from operating activities, EUR           -3.2    21.2    77.1   247.0
million
Net interest-bearing debt at the end of         -264.7  -339.1  -264.7  -339.1
period, EUR million
Gearing at the end of period, %                  -54.9   -84.9   -54.9   -84.9
Working capital at the end of period, EUR       -177.8  -270.3  -177.8  -270.3
million
Return on investment, %                           58.5    44.4    36.5    26.4
Return on equity, %                               45.8    39.4    29.0    20.9
Order backlog at the end of period, EUR        1,947.1 1,985.1 1,947.1 1,985.1
million
Order intake, EUR million                        471.2   327.0 2,084.4 2,005.4
Personnel, average for the period                4,755   3,806   4,456   3,516
Earnings per share, EUR                           1.16    0.81    2.82    1.75
Dividend per share, EUR                              -       -  1.20*)    0.85
*) Board of Directors proposal for dividend
per share

FINANCIAL STATEMENTS REVIEW JANUARY-DECEMBER 2012

OPERATING ENVIRONMENT

Despite the adverse global macroeconomic environment, in 2012 the demand for
Outotec's solutions continued at a good level because of the company's
competitive offering and good market position. The long term outlook for
metals demand continued to be positive, driving investments to new capacity
especially in non-ferrous metals value chain. Some mining companies announced
revised investment plans mainly in the areas of iron ore and coal. Towards
year-end base metal prices in particular strengthened and strong recovery was
seen also in iron ore prices. In addition to greenfield investments, customers
continued to seek additional operational improvements through the expansion
and modernization of existing processing capacity. Market activity continued
to be high in copper, gold, sulfuric acid, and aluminum markets but zinc,
nickel, and platinum group metals markets were more subdued. In general,
Outotec's project deliveries progressed well. Customers' production capacity
utilization rates stayed high, supporting Outotec's spare parts and services
sales. In addition, there was strong demand for operation and maintenance as
well as shut down services due to Outotec's special capabilities in these
areas. The competitive landscape remained relatively unchanged with some
industry consolidation.

Despite continued macro-economic uncertainties, investment financing for solid
projects continued to be available. However, local legislation, tighter
environmental permitting and the complexity of financing packages slowed sales
negotiations in some projects. In alternative energy solutions, low energy
prices and uncertainties in political regulation impacted investment decisions
in some countries.

ORDER INTAKE

Order intake in 2012 totaled EUR 2,084.4 million (2011: EUR 2,005.4 million),
a 4% increase from the comparison period. The largest order in 2012, and in
Outotec's history, over EUR 350 million, was received in the second quarter.
Orders received also included new breakthroughs in renewable energy as well as
industrial water and environmental solutions. Foreign exchange rates did not
have material effect on order intake growth. Orders from EMEA (Europe
including the CIS, Middle East and Africa) represented 59%, Americas 26%, and
Asia Pacific 15% of the total order intake. Orders received in the fourth
quarter of 2012 totaled EUR 471.2 million (Q4/2011: EUR 327.0 million), which
was 44% higher than in the comparison period.

Published orders in the fourth quarter:

  *The world's largest and most advanced sewage sludge thermal treatment
    plant for the City of Zürich, Switzerland (value nearly EUR 50 million, of
    which the first phase engineering was included in Outotec's 2012 order
    intake, and the main delivery contract will be included in the Q2/2013
    order intake)

  *Sustainable biomass power plant for Eren Holding, Turkey (value approx.
    EUR 55 million will be booked in Outotec's in Q1/2013 order intake)

  *An integrated solution consisting of gas cleaning, sulfuric acid, and
    effluent treatment technologies for Namibia Custom Smelters, Namibia
    (value approx. EUR 130 million) to reduce the emissions and improve
    working conditions of the existing copper smelter

Published orders in the third quarter:

  *Technology, proprietary equipment and services for National Iranian Copper
    Industries' copper and molybdenum projects, Iran (total value EUR 265
    million with 58 million booked in Q3/2012 order intake)

  *Technology for Orbite Aluminae's new high purity alumina plant, Canada
    (value not disclosed)

  *Modernization of Mexicana de Cobre's flash smelter including shutdown
    services and latest proprietary equipment, Mexico (value approx. EUR 30
    million)

  *Advanced technology and proprietary equipment for a new nickel matte
    treatment facility for Enerchem, South Korea (value over EUR 10 million)

  *Technology and proprietary equipment for aluminum smelters and related
    industry, China (value approx. EUR 24 million)

  *Flotation technology including the world's largest flotation cells with
    energy saving features for copper concentrator expansion, South America
    (value over EUR 30 million)

Published orders in the second quarter:

  *Technology, key process equipment and advisory services for pelletizing
    iron ores and magnetites for Gol-E-Gohar Mining & Industrial, Iran (value
    approx. EUR 80-85 million with EUR 25 million booked in Q2/2012 order
    intake)

  *Flotation and automation technology, proprietary equipment and new Virtual
    Experience Training program for Kennecott Utah Copper concentrator, U.S.
    (value not disclosed, booked in Q1 order intake)

  *Filtration technology for lithium processing pilot plant for Corporación
    Minera de Bolivia, Bolivia (some millions of EUR)

  *Filtration technology including the world's largest and most advanced
    filters for MMX Mineração e Metálicos' iron ore processing facility,
    Brazil (value some tens of millions of EUR)

  *Innovative Emission Optimized Sintering technology for BPSL's new iron ore
    sintering plant, India (value approx. EUR 20 million)

  *Technology, proprietary and key process equipment and services for the
    world's largest solvent extraction and electrowinning plant for Grupo
    México, Mexico (value approx. EUR 22 million)

  *One of the world's largest ilmenite smelters as a turn-key delivery for
    Cristal Global, Saudi Arabia (value over EUR 350 million)

Published orders in the first quarter:

  *Integrated advanced solution including grinding, flotation and filtration
    as well as various services for a slag treatment plant for Codelco, Chile
    (value some EUR 10 million)

  *The world's largest metallurgical sulfuric acid plant and gas cleaning
    system for Kansanshi Mining, Zambia (value over EUR 80 million)

  *Feasibility study for Indonesia's first smelter-grade alumina refinery
    including comprehensive mineralogical investigations, laboratory-scale
    hydrometallurgical tests and basic engineering for PT ANTAM (Persero),
    Indonesia

  *Eco-efficient process technology, proprietary equipment and services for
    Grupo México's new copper concentrator, Mexico (value nearly EUR 28
    million)

ORDER BACKLOG

The order backlog at the end of 2012 was EUR 1,947.1 million (December 31,
2011: EUR 1,985.1 million), a 2% decrease from the previous year-end. At the
end of 2012, Outotec had 38 projects with an order backlog value in excess of
EUR 10 million, accounting for 70% of the total backlog. Based on the 2012
year-end project evaluation, management estimates that roughly 77%
(approximately EUR 1,500 million) of the year-end order backlog value will be
delivered in 2013 and the rest in 2014 and beyond.

SALES AND FINANCIAL RESULT

Outotec's sales in 2012 totaled EUR 2,087.4 million (2011: EUR 1,385.6
million), up 51% from the comparison period. The sales growth resulted from
successful customer project deliveries from the strong opening order backlog
and growth of services business. Recent acquisitions (Kiln Services, Energy
Products of Idaho, Numcore, Demil, TME Group, and Backfill Specialists)
accounted for approximately 5% of the total growth (2011: no impact). Foreign
exchange rates did not have material effect on sales growth. Sales in the
fourth quarter of 2012 totaled EUR 649.8 million (Q4/2011: EUR 496.8 million),
up 31% from the comparison period.

Sales in the Services business area, which is included in the sales figures of
the three reporting segments, totaled EUR 476.0 million in 2012 (2011: EUR
343.5 million), up 39% from the comparison period and accounting for 23% of
Outotec's sales (2011: 25%). Recent acquisitions (Kiln Services, TME Group and
Demil) accounted for approximately 9% of the Services business area sales
growth (2011: no impact). Services growth was achieved by further penetrating
the old installed base and services delivered to the new installed base. In
addition, demand for operation and maintenance as well as shutdown services
grew in 2012. Sales in the Services business area in the fourth quarter of
2012 totaled EUR 184.1 million (Q4/2011: EUR 109.1 million), up 69% from the
comparison period and accounting for 28% of Outotec's sales (Q4/2011: 22%).

Operating profit from business operations in 2012 was EUR 193.8 million (2011:
EUR 121.5 million), up 60% from the comparison period and representing 9.3% of
sales (2011: 8.8%). The operating profit in 2012 was positively impacted by
higher sales as well as successful project and service deliveries. The
operating profit was negatively impacted by increased risk provisions in two
customer projects. In 2012, the company also received less license fee income
than in 2011. Unrealized and realized exchange gains related to currency
forward contracts totaled EUR 2.1 million (2011: gain of EUR 1.7 million).
Operating profit in 2012 was EUR 184.3 million (2011: EUR 111.9 million),
representing 8.8% of sales (2011: 8.1% of sales). The total impact of PPA
amortizations in 2012 was EUR 12.5 million (2011: EUR 4.9 million). The
increase in the PPA amortizations resulted primarily from the Energy Products
of Idaho (EPI) acquisition in December 2011. One-time items in 2012 totaled a
gain of EUR 3.0 million (2011: cost of EUR 4.7 million) including acquisition
related costs of EUR 2.7 million (2011: costs of EUR 2.0 million),
restructuring related costs of EUR 0.6 million (2011: costs of EUR 2.6
million) and the positive impact of EUR 6.3 million reduction from EPI
earn-out payment liability of EUR 8.8 million.

Operating profit from business operations in the fourth quarter of 2012 was
EUR 74.0 million (Q4/2011: EUR 54.9 million), representing 11.4% of sales
(Q4/2011: 11.0%), and operating profit was EUR 74.9 million (Q4/2011: EUR 48.9
million), representing 11.5% of sales (Q4/2011: 9.9%). Unrealized and realized
exchange gains related to currency forward contracts in the fourth quarter of
2012 were EUR 2.3 million (Q4/2011: loss of 0.6 EUR million). The impact of
PPA amortizations in the fourth quarter of 2012 operating profit was EUR 3.3
million (Q4/2011: EUR 1.3 million).

Fixed costs in 2012 were EUR 254.7 million (2011: EUR 217.7 million)
equivalent to 12% (2011: 16%) of sales. The cost increase was primarily due to
expanding of the sales and marketing network, acquisitions, R&D activities as
well as investments in developing and deploying the global operational model
in line with the strategy. Profit before taxes in 2012 was EUR 179.7 million
(2011: EUR 113.3 million). It included net finance expenses of EUR 4.6 million
(2011: net finance income EUR 1.4 million) of which EUR 1.2 million was
related to impairment of loan receivables from available-for-sale investments
and EUR 2.6 million related to valuation of financial items and related
hedges. Net profit for the reporting period was EUR 127.8 million (2011: EUR
79.3 million). Taxes totaled EUR 51.9 million (2011: EUR 34.0 million).
Earnings per share were EUR 2.82 (2011: EUR 1.75), up 61% from the comparison
period.

Outotec's return on equity in 2012 was 29.0% (2011: 20.9%), and the return on
investment was 36.5% (2011: 26.4%).

Sales and Operating Profit by Segment               Q4    Q4   Q1-Q4   Q1-Q4
EUR million                                       2012  2011    2012    2011
Sales
Non-ferrous Solutions                            396.5 358.8 1,305.5   947.6
Ferrous Solutions                                126.4  74.8   371.2   221.1
Energy, Light Metals and Environmental Solutions 134.1  70.9   427.0   236.1
Unallocated items*) and intra-group sales         -7.3  -7.7   -16.3   -19.2
Total                                            649.8 496.8 2,087.4 1,385.6
Operating profit
Non-ferrous Solutions                             63.4  52.4   157.5   107.7
Ferrous Solutions                                 12.5  -0.6    30.0     6.7
Energy, Light Metals and Environmental Solutions   8.6   3.6    20.3    23.8
Unallocated**) and intra-group items              -9.5  -6.5   -23.5   -26.3
Total                                             74.9  48.9   184.3   111.9

*) Unallocated items primarily include invoicing of group management and
administrative services.
**) Unallocated items primarily include group management and administrative
services

Non-ferrous Solutions

Sales in the Non-ferrous Solutions business area in 2012 totaled EUR 1,305.5
million (2011: EUR 947.6 million), up 38% from the comparison period. The
increase was due to good progress in customer deliveries from the order
backlog, continued strong order intake, and growth in Services sales. The
operating profit from business operations in 2012 was EUR 163.2 million, 12.5%
of sales (2011: EUR 113.1 million, 11.9% of sales), and operating profit was
EUR 157.5 million, 12.1% of sales (2011: EUR 107.7 million, 11.4% of sales).
Operating profit was improved due to operating leverage resulting from higher
sales and good performance in project deliveries. The unrealized and realized
exchange gains related to currency forward contracts increased profitability
in 2012 by EUR 1.8 million (2011: loss of EUR 1.3 million).

In the fourth quarter of 2012, sales were EUR 396.5 million (Q4/2011: EUR
358.8 million), the operating profit from business operations was EUR 66.1
million, 16.7% of sales (Q4/2011: EUR 54.5 million, 15.2% of sales), and
operating profit EUR 63.4 million, 16.0% of sales (Q4/2011: EUR 52.4 million,
14.6% of sales). The unrealized and realized exchange gains related to
currency forward contracts increased profitability in the fourth quarter of
2012 by EUR 0.8 million (Q4/2011: loss of EUR 2.4 million).

Ferrous Solutions

Sales in the Ferrous Solutions business area in 2012 totaled EUR 371.2 million
(2011: EUR 221.1 million), up 68% from the comparison period. The increase was
due to the successful execution of long term projects from the order backlog
and growth in Services sales especially related to Demil acquisition. The
operating profit from business operations in 2012 was EUR 31.4 million, 8.5%
of sales (2011: EUR 9.8 million, 4.4% of sales) and operating profit was EUR
30.0 million, 8.1% of sales (2011: EUR 6.7 million, 3.1% of sales). The
unrealized and realized exchange gains related to currency forward contracts
increased profitability in 2012 by EUR 0.6 million (2011: loss of EUR 0.0
million).

In the fourth quarter of 2012, sales were EUR 126.4 million (Q4/2011: EUR 74.8
million). The operating profit from business operations was EUR 13.0 million,
10.3% of sales (Q4/2011: EUR 2.5 million, 3.3% sales), and operating profit
EUR 12.5 million, 9.9% of sales (Q4/2011: EUR -0.6 million, -0.7% of sales).
The unrealized and realized exchange gains related to currency forward
contracts increased profitability in the fourth quarter of 2012 by EUR 0.8
million (Q4/2011: loss of EUR 0.2 million).

Energy, Light Metals and Environmental Solutions

Sales in the Energy, Light Metals and Environmental Solutions business area in
2012 totaled EUR 427.0 million (2011: EUR 236.1 million), up 81% from the
comparison period. The increase was due to the good progress in the execution
of long term projects, acquisitions, and growth in Services sales. The
operating profit from business operations in 2012 was EUR 22.6 million, 5.3%
of sales (2011: EUR 25.8 million, 10.9% of sales) and operating profit was EUR
20.3 million, 4.8% of sales (2011: EUR 23.8 million, 10.1% of sales).
Operating profit from business operations in 2012 decreased due to higher than
planned project costs and increased risk provisions in two customer projects
in the third and fourth quarter as well as fewer project completions compared
to the comparison period. In addition, unrealized and realized exchange losses
of EUR 0.6 million (2011: gain of EUR 2.9 million) related to currency forward
contracts impacted the profitability in 2012.

In the fourth quarter of 2012, sales were EUR 134.1 million (Q4/2011: EUR 70.9
million), the operating profit from business operations was EUR 4.4 million,
3.3% of sales (Q4/2011: EUR 5.2 million, 7.4% of sales), and operating profit
EUR 8.6 million, 6.4% of sales (Q4/2011: EUR 3.6 million, 5.0% of sales). The
unrealized and realized exchange gains related to currency forward contracts
increased profitability in the fourth quarter of 2012 by EUR 0.4 million
(Q4/2011: gain of EUR 1.5 million).

Sales by destination, % 2012 2011
EMEA (incl. CIS)          46   44
Asia Pacific              19   25
Americas                  36   31
Total                    100  100

Sales by materials, %                                                2012 2011
Copper                                                                 33   33
Iron                                                                   14   15
Aluminum                                                                6    5
Ferroalloys                                                             7    4
Precious metals                                                        13   10
Zinc                                                                    2    3
Nickel                                                                  4    6
Other metals                                                            4    9
Energy & environmental solutions (incl. water, sulfuric acid and       14   11
off-gas)
Others                                                                  2    4
Total                                                                 100  100

BALANCE SHEET, FINANCING, AND CASH FLOW

The consolidated balance sheet total was EUR 1,629.0 million at the end of
2012 (December 31, 2011: EUR 1,421.4 million). The equity to shareholders of
the parent company was EUR 481.0 million (December 31, 2011: EUR 398.4
million), representing EUR 10.66 (December 31, 2011: EUR 8.75) per share.

The net cash flow from operating activities in 2012 was EUR 77.1 million
(2011: EUR 247.0 million). The reporting period's net cash flow from operating
activities was decreased from the comparison period due to increased work in
progress due to higher sales, fewer large advance payments, and increased
inventory levels related to business growth as well as paid taxes. Gearing for
the reporting period was -54.9% (December 31, 2011: -84.9%).

The working capital amounted to EUR -177.8 million at the end of 2012
(December 31, 2011: EUR -270.3 million). The advance and milestone payments
received at the end of 2012 were EUR 358.8 million (December 31, 2011: EUR
399.0 million), representing a decrease of 10% from the comparison period. The
advance and milestone payments paid to subcontractors at the end of 2012 were
EUR 46.4 million (December 31, 2011: EUR 43.5 million).

Cash and cash equivalents totaled EUR 358.6 million at the end of 2012
(December 31, 2011: EUR 402.5 million). Cash and cash equivalents was affected
by the dividend payment of EUR 38.9 million (EUR 0.85 per share) on April 11,
2012 (April 2011: EUR 34.3 million), acquisitions EUR 34.6 million (2011: EUR
34.5 million), and purchases of own shares EUR 19.3 million (2011: no
purchases). The company invests excess cash in short-term money market
instruments such as bank deposits and corporate commercial certificates of
deposit.

In September 2012, the European Investment Bank granted a EUR 45 million loan
to Outotec to finance research and development programs in sustainable
minerals and metallurgical processing technologies as well as industrial water
treatment and energy-related applications. The repayment period is up to 11
years. At the end of 2012, Outotec had EUR 155 million of committed undrawn
credit facilities available.

Outotec's financing structure and liquidity was good. The net interest-bearing
debt at the end of 2012 was EUR -264.7 million (December 31, 2011: EUR -339.1
million). The equity-to-assets ratio was 38.0% (December 31, 2011: 39.1%). The
company's capital expenditure in 2012 was EUR 76.2 million (2011: EUR 98.3
million) including acquisitions of EUR 43.2 million (2011: EUR 58.4 million)
as well as investments in IT systems, R&D-related equipment, and intellectual
property rights.

At the end of the reporting period, guarantees for commercial commitments,
including advance payment guarantees issued by the parent and other Group
companies, were EUR 570.6 million (December 31, 2011: EUR 477.1 million).

CORPORATE STRUCTURE

On October 3, 2012, Outotec completed the acquisition of Backfill Specialists
Pty Ltd (Australia) which is a technical consulting and engineering company
specialized in mine backfilling solutions.

On August 31, 2012, Outotec completed the acquisition of Australian-owned TME
Group. TME is a mining services company and provides grinding mill relining
and mineral processing plant maintenance services to customers mainly in
Australia, Africa, and South East Asia.

On June 1, 2012, Outotec completed the acquisition of Demil Manutenção
Industrial Ltda. The Brazilian company provides industrial maintenance
services mainly for iron ore agglomeration plants, and is located in
Guarapari, Espírito Santo.

On March 12, 2012, Outotec acquired all of the shares in Numcore Ltd, which is
a Finnish technology company that develops and markets innovative online
process control solutions based on 3D imaging.

In 2013, the total impact for PPA amortizations from completed acquisitions is
estimated to be approximately EUR 13 million.

RESEARCH AND TECHNOLOGY DEVELOPMENT

In 2012, Outotec's research and technology development expenses totaled EUR
41.6 million (2011: EUR 33.5 million), increasing 24% from the comparison
period and representing 2.0% of sales (2011: 2.4%). Outotec filed 70 new
priority patent applications (2011: 41), which is record high number showing
excellent innovation activity of Outotec's personnel. Further, 286 new
national patents were granted (2011: 326). At the end of 2012, Outotec had 630
patent families, including a total of 5,745 national patents or patent
applications.

In October, Outotec and Central South University, China agreed on Sustainable
Development Creative Award which aims at building active R&D relationships
between Central South University and Outotec. Furthermore, Outotec's expert
Dr. Markus Reuter was appointed as Visiting Professor of Central South
University.

In April-June, based on the cooperation agreement with the Ministry of
Minerals Resources and Energy of Mongolia, Outotec and Aalto University
organized together a training course in Finland in Minerals Engineering and
Metallurgy for Mongolian Bachelor of Science Graduates and professors.

Outotec's new product launches in 2012:

Non-ferrous Solutions

Outotec agreed with Korea Zinc Company on the global marketing rights for the
Ausmelt Top Submerged Lance (TSL) technology for the fuming of zinc bearing
residues. The TSL zinc fuming technology is able to maximize the recovery of
valuable metals from zinc residues and produce an environmentally-friendly
slag product which is clean and safe as a substitute for aggregates and
various construction materials (press release on Dec 12). 

Outotec delivered the world's first university-based minipilot concentrator to
the Department of Process and Environmental Engineering of the University of
Oulu, Finland. The small research and minerals processing plant is designed
for a learning environment and represents the concentrating process of the
Pyhäsalmi mine in Finland on the scale of 1:5000. It offers an innovative
environment for education and research of minerals processing unit operations
(press release on Dec 11).

Outotec launched the world's largest semi-autogenous (SAG) grinding mill to
the market in response to growing metals demand and declining ore grades. The
mill is driven by a 28 MW Gearless Motor Drive, which is the largest grinding
mill power ever used. The SAG mill offers increased efficiency and up to 15%
larger mill capacity with low energy consumption.

Outotec and Sandvik Mining announced closer cooperation in minerals processing
solutions. This enables Outotec to offer an entire processing plant, including
crushing, grinding, and concentrating as well as process testing, design,
basic engineering, and process guarantees (press release on Sep 24).

Outotec received exclusive rights from Swiss Tower Mills Minerals Ltd to
distribute and sell its Tower Mills (STM) grinding technology. High-intensity
grinding mills marketed as Outotec® HIGmill bring a new option to the market,
enabling Outotec to compete for the position of market leader in fine and
ultra-fine grinding (press release on April 5).

Outotec launched the world's largest flotation cell, the Outotec TankCell®
e500. It has been designed for plants with high material throughputs, such as
large copper and gold concentrators. Outotec offers the broadest size range of
flotation cells on the market (from 5 m³ to 500 m³), which allows for a
flexible layout with symmetrical design. The benefits include lower equipment
costs and energy consumption, less installation work, and a smaller plant
footprint. Fewer units per installation result in fewer components, spare
parts, and less maintenance.

Outotec launched the Outotec® Larox PF 180, the world's largest pressure
filter. The PF 180 series are 50% larger than the previous model and lowering
operating cost per ton.

Ferrous Solutions

Outotec has developed a new Outotec® EOS - Emission Optimized Sintering
process for iron ore sintering. Besides iron ores, it can also be applied for
sintering of manganese ore fines. The process reduces the substantial off-gas
volume by 50-60% by re-circulating the off-gas and using its CO content as an
energy source. As there are less off-gases, the off-gas cleaning investment
and operational costs will be lower, and the consumption of coke used as
energy can be cut by up to 20%, which significantly reduces dust and
emissions.

Outotec introduced an automated pallet car changer for iron ore sintering and
pelletizing plants. The new solution increases plant productivity since no
stoppage is necessary during the changing procedure. The automated process
allows continuous change of multiple pallet cars. The solution can be applied
both in new and brownfield sintering and pelletizing plants.

Outotec has added Direct Current Furnaces to its ferroalloy smelting
technology portfolio, and in partnership with Allied Furnace Consultants (AFC)
based in South Africa, has developed and patented a new conductive anode
design which will be installed in all new Outotec® Direct Current Smelting
furnaces worldwide.

Outotec has developed an ilmenite smelting process which applies Outotec's
ferroalloy smelting technology. The new technology will be implemented in
Cristal Global's mega size ilmenite smelter project in the Kingdom of Saudi
Arabia (stock exchange release on May 31). The initial annual capacity of one
of the world's largest ilmenite plants will be 500,000 tonnes of titanium
dioxide slag, and 235,000 tonnes of high purity pig iron.

Energy, Light Metals and Environmental Solutions

Outotec has developed a patented clay calcination process to activate
different clay minerals in a fluidized bed furnace. Depending on the quality
requirements, solid fuels can also be used as an energy source for the
reaction. In Outotec's trial plants, diverse samples can be produced for
verification of the product quality. Clay calcination offers a significant
reduction in carbon dioxide compared to the traditional clinker production
process.

The acquisition of Energy Products of Idaho has significantly improved
Outotec's capabilities to offer biomass and waste-to-energy systems which can
operate on over 200 different biomass fuels and fuel mixes. Covering the
entire chain of converting different biomass materials into energy, our
circulating and stationary fluidized bed systems allow utilization of a
variety of fuel substances - from waste wood up to biomass sludge such as
lignin sludge from bio-ethanol production. The new energy systems will be
applied, for example, in the Karton 90 MW biomass power plant in Turkey (press
release on Nov 16) and in the advanced sewage sludge thermal treatment plant
in Zürich, Switzerland (press release on Nov 9).

SUSTAINABILITY

In October, Outotec was recognized for the fourth consecutive year in Carbon
Disclosure Leadership Index.

In September, Outotec hosted a seminar in Indonesia for customers, partners,
ministries, industry associations, and academics on the implementation of a
framework for sustainability in the Indonesian mining and metals processing
industries. The seminar was organized jointly with the Indonesian Ministry of
Environment. Outotec presented sustainable solutions and environmental
considerations in minerals and metals processing as well as trends in
environmental legislation in Europe.

Outotec published its sustainability report for 2011 in April. The report is
based on the Global Reporting Initiative (GRI) guidelines and conforms to
Application Level B+ and is third-party assured by Ecobio Ltd. In November,
the report was awarded Readers' Choice in the competition evaluating the
corporate responsibility reporting of the Finnish companies.

PERSONNEL

At the end of the reporting period, Outotec had a total of 4,805 employees
(December 31, 2011: 3,883). New employees were primarily recruited for project
deliveries and for the service business. Acquisitions increased personnel from
the comparison period by 450. In 2012, Outotec had on average 4,456 employees
(2011: 3,516). The average number of personnel grew by 940 compared to the
previous year, which supports overall business growth objectives. Temporary
personnel accounted for approximately 9% (2011: 9%) of the total number of
employees.

Distribution of personnel by region Dec 31, Dec 31, change
                                       2012    2011      %
EMEA (including CIS)                  2,642   2,327   13.5
Americas                              1,400     972   44.0
Asia Pacific                            763     584   30.7
Total                                 4,805   3,883   23.7

At the end of the reporting period, the company had, in addition to its own
personnel, approximately 660 (December 31, 2011: 620) full-time equivalent,
contracted professionals working in project execution. The number of
contracted workers at any given time changes with the active project mix and
project commissioning, local legislation, and regulations as well as seasonal
fluctuations.

In 2012, salaries and other employee benefits totaled EUR 362.6 million (2011:
EUR 284.4 million). The increase from the comparison period was due to the
increase in personnel, wage inflation, and wage increases.

CHANGES IN TOP MANAGEMENT

In November, Outotec appointed Ms. Kirsi Nuotto, M.A., as Senior Vice
President - Human Capital and member of the Executive Board as of January 9,
2013. Outotec's former SVP - Human Capital, Mr. Ari Jokilaakso, Ph.D. (Tech.),
took up a new position in Outotec as Head of Research and Technology
Development in the Non-ferrous Solutions business area.

NOMINATION BOARD

The Annual General Meeting 2012 of Outotec Oyj decided to establish a
Nomination Board to prepare proposals for the election and remuneration of the
members of the Board of Directors to the Annual General Meeting 2013. The
Nomination Board comprises three members nominated by the largest
shareholders, and the Chairman and Vice Chairman of the Board of Directors.
The largest shareholders of the company were determined on the basis of the
shareholdings registered in the Finnish book-entry systems on October 1, 2012.
On October 16, 2012, Outotec announced that the following persons have been
nominated as members of the Nomination Board:

  *Kari A.J. Järvinen, Chairman (Solidium Oy)

  *Harri Sailas (Ilmarinen Mutual Pension Insurance Company)

  *Poju Zabludowicz (Tamares Nordic Investments B.V.) 

  *Carl-Gustaf Bergström 

  *Karri Kaitue

The Nomination Board's proposals were announced on January 10, 2013.

SHARE-BASED INCENTIVE PROGRAM AND SHARE SAVINGS PLAN

Share-based incentive program

Outotec's Board of Directors decided on April 23, 2010, to adopt a share-based
incentive program 2010-2012 for the company's key personnel.

Earning period 2010

A total of 138,144 Outotec shares were allocated for the 2010 earning period
with a cost of approximately EUR 9.6 million, which was booked for the
financial periods 2010-2012.

Earning period 2011

A total of 130,063 Outotec shares were allocated for the 2011 earning period
with a cost of approximately EUR 9.5 million, which is booked for the
financial periods 2011-2013.

Earning period 2012

The Board of Directors approved (March 28, 2012) 148 individuals for the
program's 2012 earning period and set targets for order intake, earnings per
share and sales growth. At the end of 2012, there were 146 participants with
right to earn, on the basis of achievement of set targets, a maximum number of
194,375 shares and cash to cover income taxes.

Employee share savings plan

Outotec's Board of Directors decided on September 25, 2012, to launch an
employee share savings plan for Outotec employees globally. The plan will
commence from January 1, 2013, with the first savings period being one
calendar year. The following savings periods are subject to a separate board
decision. Approximately 34% of employees in 22 countries have signed up.
Participation in Finland, Sweden and five other countries exceeds 50% of the
employees.

SHARES AND SHARE CAPITAL

Outotec's shares are listed on the NASDAQ OMX Helsinki (OTE1V). At the end of
the reporting period, Outotec's share capital was EUR 17,186,442.52,
consisting of 45,780,373 shares. Each share entitles its holder to one vote at
the company's general shareholders' meetings. At the end of 2012, the company
holds a total of 564,327 Outotec shares, which represents a relative share of
1.23% of Outotec Oyj's shares and votes.

Third-party share-based incentive program agreement

Outotec has an agreement with a third-party service provider concerning the
administration of the share-based incentive program for key personnel. These
shares are accounted for as treasury shares on Outotec's consolidated balance
sheet. At the end of 2012, the amount of these treasury shares was 64,327.

BOARD AUTHORIZATIONS

The Annual General Meeting for 2012 authorized Outotec's Board of Directors to
determine the repurchase of the company's own shares, and to issue new shares.
The maximum number of shares related to both authorizations is 4,578,037. The
authorizations are valid until the next Annual General Meeting. On September
10, Outotec announced that the Board of Directors has decided to exercise its
authorization. During the period September 18-24, 2012, Outotec purchased a
total of 500,000 of the company's own shares through public trading at an
average price of approximately EUR 38.55 per share. The total purchase price
paid for the shares was EUR 19,274,589.43. The acquired shares will be used
for the company's share based incentive programs.

The Annual General Meeting gave the Board of Directors the authority to donate
an aggregate amount of EUR 100,000 for non-profit purposes or to universities.
In accordance with the given authorization, the Board of Directors has
approved donations to various causes, totaling EUR 94,000. The biggest
individual donation was made to Baltic Sea Action Group (EUR 40,000).

TRADING, MARKET CAPITALIZATION, AND SHAREHOLDERS

In 2012, the volume-weighted average price for a share in the company was EUR
38.08, the highest quotation for a share was EUR 46.67, and the lowest EUR
30.31. The trading of Outotec shares in 2012 exceeded 88 million shares, with
a total value of over EUR 3,357 million. At the end of the reporting period,
Outotec's market capitalization was EUR 1,940 million and the last quotation
for a share was EUR 42.37. At the end of 2012, the company did not hold any
treasury shares for trading purposes.

At the end of 2012, Outotec had 15,312 shareholders. Shares held in 16 nominee
registers accounted for 44.39% and Finnish households held 10.74% of all
Outotec shares.

Outotec has consolidated Outotec Management Oy into the Group's balance sheet.
At the end of 2012, Outotec Management Oy held 203,434 or 0.44% (February 7,
2013: 203,434) of Outotec shares, which have been accounted for as treasury
shares on Outotec's balance sheet. An announcement to dissolve Outotec
Management Oy in accordance with its terms and conditions was made on October
25, 2012. The share ownership plan shall be dissolved after the publication of
Outotec Oyj's Interim Report Q1/2013 through a share exchange so that all the
shares in Outotec Management Oy will be transferred to Outotec Oyj against
Outotec shares. Outotec Oyj will receive 203,434 own Outotec shares as well as
the company's loan receivable and accrued interest in full from Outotec
Management Oy. The number of new shares to be given in the share exchange
shall be determined on the basis of Outotec Management Oy's net assets as of
the date of dissolution of the plan. With the share exchange the Executive
Board members' previously indirect share ownership will become a direct
ownership in Outotec. However, the Outotec Management Oy share ownership plan
will be continued by one year at a time, in case the Outotec share price
during five trading days after the publication of the Interim Report Q1/2013,
Q1/2014, Q1/2015 or Q1/2016 is lower than the average share price which
Outotec Management Oy paid for its Outotec shares. The dissolution of the plan
and possible delay in such dissolution will be announced separately.

Changes in share holdings

On April 18, 2012, the holdings of BlackRock, Inc (voting right held by
BlackRock Investment Management (UK) Limited) in shares of Outotec Oyj
exceeded 5% (2,311,857 shares), representing 5.05% of the shares and votes.

On March 6, 2012, the holdings of Solidium Oy in shares of Outotec Oyj
exceeded 5% (2,314,000 shares), representing 5.05% of the shares and votes.

On March 1, 2012, the group holdings of Goldman Sachs Group, Inc. in shares of
Outotec Oyj exceeded 5% (2,458,638 shares), representing 5.37% of the shares
and votes and fell below 5% on March 2, 2012 (191,499 shares), representing
0.42% of the shares and votes.

EVENTS AFTER THE REPORTING PERIOD

On January 30, 2013, Outotec announced it had agreed with a major cellulosic
ethanol producer on the design and delivery of a renewable energy solution for
a bio-ethanol facility in the USA. The order has been included in Outotec's Q4
2012 order intake and its value will not be disclosed.

On January 14, 2013, Outotec announced it had agreed on the operation and
maintenance of a copper concentrator (6 years plus) with ZAO Mikheevsky GOK,
Russia. The contract value exceeds EUR 140 million, which will be gradually
booked in Outotec's order intake starting in 2013, with only a small amount in
the first year.

On January 10, 2013, Outotec announced it had agreed on the design and turnkey
delivery of a gas cleaning plant to Luossavaara-Kiirunavaara AB's (LKAB) iron
ore pellet plant, Sweden. The order value is approximately EUR 38 million and
it has been booked in Outotec's order intake in the fourth quarter of 2012.

On January 25, 2013, Outotec announced that it has been ranked 12th in the
Corporate Knights' Global 100 list of the world's most sustainable companies.
This is the first time Outotec was included in the index. Overall, the Global
100 drew companies from 22 countries on six continents. Outotec was also
recognized in another sustainability index, the RobecoSAM 2013 Sustainability
Yearbook as the company that achieved the largest proportional improvement in
the sustainability performance within its sector.

On January 24, 2013, Outotec submitted an application for summons against
Outokumpu Oyj in a patent dispute regarding a new invention in ferroalloys
technology.

On January 24, 2013, Outotec announced the appointment of Ms Nina Kiviranta,
Master of Laws, as General Counsel and member of the Executive Board as of
March 18, 2013.

On January 16, 2013, Outotec announced that the Board of Directors has decided
to adopt a new share-based incentive program for the company's key personnel.
The program comprises three earning periods: calendar years 2013, 2014 and
2015. The Board of Directors determines on an annual basis the maximum amount
of shares to be allocated in each calendar year, participants of the program,
amount of the maximum reward for each individual, the earning criteria and the
targets established for them.

On January 10, 2013, Outotec's Nomination Board announced its proposal for
composition and remuneration of the Board of Directors as follows:

Composition of the Board of Directors

Outotec's Nomination Board proposes to the Annual General Meeting on March 26,
2013, that the current members of the Board of Directors Eija Ailasmaa, Tapani
Järvinen, Hannu Linnoinen, Timo Ritakallio and Poju Zabludowicz be re-elected
as members of the Board for the term ending at the closure of the Annual
General Meeting of 2014. The Nomination Board also proposes that Matti
Alahuhta and Anja Korhonen be elected as new members of the Board. The current
Chairman of the Board of Directors Carl-Gustaf Bergström and Vice Chairman
Karri Kaitue have given notification that they are no longer available for
re-election at the Annual General Meeting of 2013. The Nomination Board
proposes that the Annual General Meeting resolves to elect Matti Alahuhta as
the Chairman of the Board of Directors for the term ending at the closure of
the Annual General Meeting of 2014. All candidates have given their consent to
the election.

Remuneration of the Board of Directors

Outotec's Nomination Board proposes further to the Annual General Meeting on
March 26, 2013 that the members of the Board of Directors be paid the
following annual remuneration: EUR 72,000 for the Chairman of the Board of
Directors and EUR 36,000 for the other members of the Board of Directors each,
as well as an additional EUR 12,000 for both the Vice Chairman of the Board,
and the Chairman of the Audit Committee; and that the members of the Board
each be paid EUR 600 for attendance at each board and committee meeting and
are reimbursed for direct costs arising from board work. Of the annual
remuneration, 60% would be paid in cash and 40% in the form of Outotec Oyj
shares, which would be acquired to the members from the stock exchange, within
one week upon the AGM 2013 date, in amounts corresponding to EUR 28,800 for
the Chairman, EUR 19,200 for the Vice Chairman and Chairman of the Audit
Committee each, and EUR 14,400 for each of the other members. The part of the
annual fee payable in cash corresponds to the approximate sum necessary for
the payment of the income taxes on the remunerations and would be paid no
later than April 30, 2013. The annual fees shall encompass the full term of
office of the Board of Directors. The attendance fee shall be paid in cash.

SHORT-TERM RISKS AND UNCERTAINTIES

Risks related to the global operating environment

Outotec's global business operations are subject to various political,
economic, and social conditions. In the current economic environment,
conditions may rapidly change and have a negative impact on the availability
and conditions of financing for Outotec's customers as well as create delays
and changes in order placement and execution. Outotec may operate in
politically unstable countries where potential economic sanctions or trade
restrictions may cause project delays or even prevent project execution and
Outotec's business operations.

As part of its overall project delivery, Outotec often gives performance
guarantees and takes liabilities for the warranty period defects. Projects in
Outotec's order backlog may contain risks related to delivery, quality,
functionality or costs. Large turnkey projects may involve more risks, for
example, due to their complex scope, long delivery times, and contractual
liabilities. Operation and maintenance service contracts may include
performance, personnel, and working capital related risks. In order to manage
these business risks, Outotec has developed close management of both the
project itself but in particular, the supply chain. Outotec aims to mitigate
project risks through contract management, advance and milestone payments as
well as gradual booking of orders in the backlog according to actual project
progress in some cases. According to standard practice, all unfinished
projects are evaluated quarterly and provisions for performance guarantees and
warranty period guarantees are updated.

Outotec follows the percentage of completion method for project revenue
recognition. Based on project time schedules, management estimates the
revenues to be recognized from the order backlog for the calendar year. As a
result, deviations in project time schedules may have an impact on the
company's financial projections. Financial result may also fluctuate due to
the sales mix and relative share of Services, changes in foreign exchange
rates, timing of new orders, license fee income, and project completions. The
nature of international business, different interpretations of international
and local tax rules and regulations may cause additional direct or indirect
taxes for Outotec, thus reducing the company's net result.

Acquisitions are an integral part of Outotec's strategy. Goodwill may be
generated from acquisitions and if estimated synergy benefits do not
materialize it may lead to goodwill impairment.

Outotec's business model is primarily based on customer advance and milestone
payments as well as on-demand guarantees issued by Outotec's relationship
banks. Securing the continuity of Outotec's business operations and supporting
the strategic objectives requires that the company has sufficient funding
available under all circumstances. Cash held by the company is primarily
invested in short term bank deposits and in Finnish corporate short term
certificates of deposit. Outotec's customers and subcontractors may experience
financial difficulties and lack of financing may result in project and payment
delays or credit losses.

More than 50% of Outotec's total cash flow is denominated in euros. The rest
is divided among various currencies, including the US dollar, Australian
dollar, Brazilian real, Canadian dollar, and South African rand. The weight of
any given currency in new projects can substantially fluctuate, but most
cash-flow-related risks are hedged over the short term and long term. In the
short term, currency fluctuations may create volatility in profitability. The
forecasted and probable cash flows are selectively hedged and are always
subject to separate decisions and risk analysis. Natural hedging is used as
widely as possible and the remaining open foreign exchange exposures related
to committed cash flows are fully hedged using primarily forward agreements. 

The most relevant risks related to Outotec's business are presented in more
detail at the company's website www.outotec.com.

MARKET OUTLOOK

Many global macroeconomic indicators including metals prices have been
strengthening during recent months due to the more positive GDP growth outlook
in the BRIC countries, Africa, the USA, and Europe. The overall market outlook
for minerals and metals as well as alternative energy and industrial water
treatment is positive due to the favorable megatrends. In addition, project
financing is available and interest rate levels are expected to stay low.

In minerals and metals processing, new investments are needed as current
production capacity and ongoing investments in new capacity are not sufficient
to fulfill the long term demand of metals. The main drivers for increasing
metals demand are global GDP growth and the growing middle class in emerging
economies. In addition, declining ore grades and more complex ores require
investments in capacity and advanced technology to enable sufficient recovery
of metals. In addition to these production capacity drivers, tightening
environmental regulations, increasing energy efficiency requirements, and
reducing of energy costs, carbon dioxide and other emissions as well as
scarcity of fresh water increase investments in sustainable technology.
Additionally, many developing countries, which in the past have been exporting
raw materials with low value, are now investing in domestic capacity in order
to capture more value from their natural resources. All in all, the industry
is increasingly focusing on the social and environmental impacts of their
operations and this is increasing the demand for sustainable processing
technologies.

There are still uncertainties in the world economy. However, metal prices are
currently at a good level, and therefore, mining and metal companies are
seeking ways to increase the capacity of their existing operations, which is
often the fastest route to a return on investment. As a result, the industry
CAPEX has been somewhat shifting from large greenfield projects requiring
significant infrastructure investments to brownfield modernization and
capacity enhancements. Outotec believes that the market continues to be solid
in brownfield and mid-tier projects as well as services. New projects are
developed, especially in the CIS, Middle East, Africa, and South-East Asia.
Large turnkey projects are currently being developed more slowly as investment
costs have been increasing, environmental permitting has been getting
stricter, and industry's human resources continue to be scarce. These trends
create favorable opportunities for Outotec's life cycle solutions when the
company can provide the best return on the customer's investment with
predictable investment cost, time to market, and process performance,
leveraging the company's unique technologies and core competencies.

Demand for alternative energy solutions continues to be stable, but in many
countries current low energy prices and the lack of local regulations are
slowing down the growth of investments in this area. However, niche
waste-to-energy projects, where several raw materials can be used to create
renewable energy for solving a local waste problem, are identified globally.

REVISED FINANCIAL GUIDANCE FOR 2013 (EARLIER GUIDANCE IN PARENTHESIS)

Based on the strong order backlog, current market outlook and the customer
tendering activity, the management expects that in 2013:

  *Sales will be approximately EUR 2.1-2.3 billion (grow from 2012), and

  *Operating profit margin from business operations*) will be approximately
    9.5-10.5% (further improve from 2012)

*) excluding one-time items and purchase price allocations (PPA) amortizations

Espoo, February 7, 2013

Outotec Oyj
Board of Directors

For further information, please contact:

Outotec Oyj

Pertti Korhonen, President and CEO
tel. +358 20529211

Mikko Puolakka, CFO
tel. +358 20529 2002

Rita Uotila, Vice President - Investor Relations
tel. +358 20529 2003, mobile +358 400 954141

Format for e-mail addresses: firstname.lastname@outotec.com

FINANCIAL REPORTING SCHEDULE IN 2013

  *Interim Report for January-March 2013: April 26, 2013

  *Interim Report for January-June 2013: July 31, 2013

  *Interim Report for January-September 2013: October 30, 2013

ANNUAL GENERAL MEETING 2013

The Annual General Meeting in 2013 is scheduled for March 26, 2013. Detailed
information about the AGM is available at www.outotec.com. Outotec's Financial
Statements 2012 will be published in week 9, 2013.

INTERIM REPORT JANUARY-DECEMBER 2012 BRIEFING

Date: Thursday, February 7, 2013
Time: 2.00 pm (Finnish time)
Venue: Hotel Scandic Simonkenttä, Simonkatu 9, Helsinki

JOINING VIA WEBCAST

You may follow the briefing via a live webcast at www.outotec.com. The webcast
will be recorded and published on Outotec's website for on-demand viewing.

JOINING VIA TELECONFERENCE

You may also join the briefing by telephone. To register as a participant for
the teleconference and Q&A session, please dial 5 to 10 minutes before the
beginning of the event:

FI/UK: +44 20 7162 0025
US/CANADA: +1 334 323 6201
Password: 927291

In addition, an instant replay service of the conference call will be
available until midnight on February 10, using the following numbers:

FI/UK: +44 20 7031 4064
US: +1954334 0342
Access code: 927291

Contact information is gathered for registration purposes only and is not used
for commercial purposes.

CONSOLIDATED FINANCIAL STATEMENTS (unaudited)

Consolidated Statement of Comprehensive Income     Q4     Q4    Q1-Q4    Q1-Q4
EUR million                                      2012   2011     2012     2011
Sales                                           649.8  496.8  2,087.4  1,385.6
Cost of sales                                  -508.0 -378.0 -1,653.9 -1,053.1
Gross profit                                    141.8  118.7    433.6    332.5
Other income                                      9.0    1.0      9.3      3.9
Selling and marketing expenses                  -30.1  -23.3   -103.1    -86.4
Administrative expenses                         -31.6  -30.5   -110.0    -97.7
Research and development expenses               -12.3  -10.8    -41.6    -33.5
Other expenses                                   -1.7   -6.3     -3.6     -6.7
Share of results of associated companies          0.0    0.1     -0.3     -0.0
Operating profit                                 74.9   48.9    184.3    111.9
Finance income and expenses
 Interest income and expenses                    0.8    1.9      5.1      6.0
 Market price gains and losses                  -1.1    1.1     -2.6     -0.3
 Other finance income and expenses              -2.4   -1.2     -7.0     -4.4
Net finance income                               -2.6    1.9     -4.6      1.4
Profit before income taxes                       72.3   50.8    179.7    113.3
Income tax expenses                             -20.0  -13.8    -51.9    -34.0
Profit for the period                            52.3   37.0    127.8     79.3
Other comprehensive income
 Exchange differences on translating foreign
operations                                       -5.4   11.7     -0.6     -3.9
 Cash flow hedges                                2.6   -1.9      9.4     -4.3
  Income tax relating to cash flow hedges       1.2    0.6     -0.5      1.3
 Available for sale financial assets            -0.1   -0.1     -0.1     -0.2
Other comprehensive income for the period        -1.7   10.3      8.2     -7.2
Total comprehensive income for the period        50.6   47.3    136.0     72.1
Profit for the period attributable to:
Equity holders of the parent company             52.3   37.0    127.8     79.3
Non-controlling interest                            -      -        -        -
Total comprehensive income for the period attributable to:
Equity holders of the parent company             50.6   47.3    136.0     72.1
Non-controlling interest                            -      -        -        -
Earnings per share for profit attributable to the equity
holders of the parent company:
Basic earnings per share, EUR                    1.16   0.81     2.82     1.75
Diluted earnings per share, EUR                  1.16   0.81     2.82     1.75

All figures in the tables have been rounded and consequently the sum of
individual figures may deviate from the sum presented. Key figures have been
calculated using exact figures.

Condensed Consolidated Statement of Financial        December 31, December 31,
Position
EUR million                                                  2012         2011
ASSETS
Non-current assets
Intangible assets                                           335.0        286.8
Property, plant and equipment                                75.3         62.5
Deferred tax asset                                           53.2         47.3
Non-current financial assets
Interest-bearing                                              3.8          2.4
Non interest-bearing                                          2.4          2.5
Total non-current assets                                    469.7        401.5
Current assets
Inventories *)                                              180.8        148.6
Current financial assets
 Interest-bearing                                            0.2          0.7
 Non interest-bearing                                      619.7        468.1
Cash and cash equivalents                                   358.6        402.5
Total current assets                                      1,159.3      1,019.9
TOTAL ASSETS                                              1,629.0      1,421.4
EQUITY AND LIABILITIES
Equity attributable to the equity holders of the
parent company                                              481.0        398.4
Non-controlling interest                                      1.2          1.1
Total equity                                                482.2        399.5
Non-current liabilities
Interest-bearing                                             74.3         47.6
Non interest-bearing                                        104.8        107.0
Total non-current liabilities                               179.1        154.6
Current liabilities
Interest-bearing                                             23.6         18.9
Non interest-bearing
 Advances received **)                                     358.8        399.0
 Other non interest-bearing liabilities                    585.1        449.4
Total current liabilities                                   967.6        867.3
Total liabilities                                         1,146.7      1,021.9
TOTAL EQUITY AND LIABILITIES                              1,629.0      1,421.4

*) Of which advances paid for inventories amounted to EUR 46.4 million at
December 31, 2012 (December 31, 2011: EUR 43.5 million).
**) Gross advances received before percentage of completion revenue
recognition amounted to EUR 1,672.1 million at December 31, 2012 (December 31,
2011: EUR 1,462.3 million).

Condensed Consolidated Statement of Cash Flows                   Q1-Q4 Q1-Q4
EUR million                                                       2012  2011
Cash flows from operating activities
Profit for the period                                            127.8  79.3
Adjustments for
 Depreciation and amortization                                   31.4  19.4
 Other adjustments                                               64.4  28.6
Decrease (+), increase (-) in working capital                    -93.0 134.4
Interest received                                                  7.4   8.0
Interest paid                                                     -2.4  -2.0
Income tax paid                                                  -58.4 -20.8
Net cash from operating activities                                77.1 247.0
Purchases of assets                                              -47.5 -34.4
Acquisition of subsidiaries and business operations, net of cash -34.6 -34.5
Acquisition of shares in associated companies                        -  -0.1
Proceeds from disposal of subsidiaries                               -   0.0
Proceeds from sale of assets                                       0.9   1.4
Cash flows from other investing activities                        -2.5  -0.1
Net cash used in investing activities                            -83.8 -67.7
Cash flow before financing activities                             -6.6 179.3
Repayments of non-current debt                                    -8.7 -11.5
Borrowings of non-current debt                                    40.0     -
Decrease in current debt                                          -9.2  -4.9
Increase in current debt                                           3.0   0.0
Purchase of treasury shares                                      -19.3     -
Related party net investment to Outotec Oyj shares *)             -0.2  -0.2
Dividends paid                                                   -38.9 -34.3
Cash flows from other financing activities                        -0.0   0.4
Net cash used in financing activities                            -33.2 -50.6
Net change in cash and cash equivalents                          -39.9 128.8
Cash and cash equivalents at the beginning of the period         402.5 280.3
Foreign exchange rate effect on cash and cash equivalents         -4.0  -6.6
Net change in cash and cash equivalents                          -39.9 128.8
Cash and cash equivalents at the end of the period               358.6 402.5

*) Consolidation of Outotec Management Oy (incentive plan for Outotec's
Executive Board members). At the end of the reporting period, Outotec
Management Oy held 203,434 (December 31, 2011: 199,747) Outotec shares which
have been accounted as treasury shares in Outotec's consolidated statement of
financial position.

Consolidated Statement of Changes in Equity

A = Share capital
B = Share premium fund
C = Other reserves
D = Fair value reserves
E = Treasury shares
F = Reserve for invested non-restricted equity
G = Cumulative translation differences
H = Retained earnings
I = Non-controlling interest
J = Total equity

Consolidated Statement of Changes in Equity
                    Attributable to the equity holders of the parent
                                        company
EUR million             A     B    C     D      E     F     G      H   I     J
Equity at
January 1, 2011      17.2  20.2  0.4   2.1   -9.7  87.7  29.0  210.0 1.0 357.7
Dividends paid          -     -    -     -      -     -     -  -34.3   - -34.3
Management
incentive plan for
Outotec EB*)            -     -    -     -   -0.3     -     -      - 0.1  -0.2
Share-based
compensation            -     -    -     -    2.4     -     -    0.9   -   3.3
Total comprehensive
income for the
period                  -     -    -  -3.2      -     -  -3.9   79.3   -  72.1
Other changes           -     -  0.0     -      -     -     -    0.7   -   0.7
Equity at
December 31, 2011    17.2  20.2  0.4  -1.2   -7.5  87.7  25.1  256.5 1.1 399.5
Equity at
January 1, 2012      17.2  20.2  0.4  -1.2   -7.5  87.7  25.1  256.5 1.1 399.5
Dividends               -     -    -     -      -     -     -  -38.9   - -38.9
Management
incentive plan for
Outotec EB*)            -     -    -     -   -0.2     -     -      - 0.1  -0.1
Purchase of
treasury shares         -     -    -     -  -19.3     -     -      -   - -19.3
Share-based
compensation            -     -    -     -    1.5     -     -    3.1   -   4.6
Total comprehensive
income for the
period                  -     -    -   8.8      -     -  -0.6  127.8   - 136.0
Other changes           -     -  0.0     -      -     -     -    0.4   -   0.4
Equity at
December 31, 2012    17.2  20.2  0.5   7.6  -25.5  87.7  24.5  348.9 1.2 482.2

*) Consolidation of Outotec Management Oy (incentive plan for Outotec's
Executive Board members). At the end of the reporting period, Outotec
Management Oy held 203,434 (December 31, 2011: 199,747) Outotec shares which
have been accounted as treasury shares in Outotec's consolidated statement of
financial position.

Key figures                                         Q4      Q4   Q1-Q4   Q1-Q4
                                                  2012    2011    2012    2011
Sales, EUR million                               649.8   496.8 2,087.4 1,385.6
Gross margin, %                                   21.8    23.9    20.8    24.0
Operating profit, EUR million                     74.9    48.9   184.3   111.9
Operating profit margin, %                        11.5     9.9     8.8     8.1
Profit before taxes, EUR million                  72.3    50.8   179.7   113.3
Profit before taxes in relation to sales, %       11.1    10.2     8.6     8.2
Net cash from operating activities, EUR           -3.2    21.2    77.1   247.0
million
Net interest-bearing debt at the end of         -264.7  -339.1  -264.7  -339.1
period, EUR million
Gearing at the end of period, %                  -54.9   -84.9   -54.9   -84.9
Equity-to-assets ratio at the end of period, %    38.0    39.1    38.0    39.1
Working capital at the end of period, EUR       -177.8  -270.3  -177.8  -270.3
million
Capital expenditure, EUR million                  27.8    75.0    76.2    98.3
Capital expenditure in relation to sales, %        4.3    15.1     3.7     7.1
Return on investment, %                           58.5    44.4    36.5    26.4
Return on equity, %                               45.8    39.4    29.0    20.9
Order backlog at the end of period, EUR        1,947.1 1,985.1 1,947.1 1,985.1
million
Order intake, EUR million                        471.2   327.0 2,084.4 2,005.4
Personnel, average for the period                4,755   3,806   4,456   3,516
Profit for the period in relation to sales, %      8.0     7.4     6.1     5.7
Research and development expenses, EUR million    12.3    10.8    41.6    33.5
Research and development expenses in relation      1.9     2.2     2.0     2.4
to sales, %
Earnings per share, EUR                           1.16    0.81    2.82    1.75
Equity per share, EUR                            10.66    8.75   10.66    8.75
Dividend per share, EUR                              -       -  1.20*)    0.85
*) Board of Directors proposal for dividend
per share

NOTES TO THE STATEMENT OF COMPREHENSIVE INCOME AND FINANCIAL POSITION

Outotec has applied the following revised or new standards and interpretations
since the beginning of 2012, which do not have material impact on the  Group's 
financial statements:

  *IFRS 7 - Financial Instruments, Disclosures - Transfer of Financial Assets
    (Amendment to IFRS 7). The amendment introduces new disclosure
    requirements about transfer of financial assets in two cases; financial
    assets that are not derecognized in their entirety and financial assets
    that are derecognized in their entirety but for which the entity retains
    continuing involvement. This amendment will promote transparency and
    improve understanding of the risk exposures relating to transfers of
    financial assets. Currently Outotec Group does not have such transferred
    financial assets and thus the amendment does not impact on the published
    information.

  *IAS 12 - Income taxes, Deferred tax. - Deferred tax accounting for
    investment property at fair value (Amendment to IAS 12). The amendment
    introduces an exception to the existing principle for the measurement of
    deferred tax assets or liabilities arising on investment property measured
    at fair value according to IAS 40 (Investment property). Outotec Group
    does not have currently investment properties measured using the fair
    value model in IAS 40 and thus the amendment does not impact on the
    published information.

The following new standards and interpretations have been published, but they
are not effective in 2012, neither has Outotec early adapted them. These
changes are not expected to have material impact on Outotec's figures.

  *IAS 1 - Financial statement presentation. The main change resulting from
    these amendments is a requirement for entities to group items presented in
    'other comprehensive income' (OCI) on the basis of whether they are
    potentially reclassifiable to profit or loss subsequently
    (reclassification adjustments). The amendments do not address which items
    are presented in OCI. The standard is not expected to have material impact
    on Outotec's financial statements. Standard will be applied for accounting
    periods beginning on January 1, 2013.

  *IAS 19 - Employee benefits. The amendment will eliminate the corridor
    approach and will recognize all actuarial gains and losses in OCI as they
    occur; to immediately recognize all past service costs; and to replace
    interest cost and expected return on plan assets with a net interest
    amount that is calculated by applying the discount rate to the net defined
    benefit liability (asset). The standard is not expected to have material
    impact on Outotec's financial statements. Standard will be applied for
    accounting periods beginning on January 1, 2013.

  *IAS 32 - Financial instruments: Presentation. These amendments are to the
    application guidance to the standard and clarify some of the requirements
    for offsetting financial assets and financial liabilities on the balance
    sheet. Outotec estimates the impact of the change and intends to adopt
    changes during the accounting period beginning on or after January 1,
    2014.

  *IFRS 9 - Financial instruments. The standard addresses the classification,
    measurement and recognition of financial assets and financial liabilities.
    The two parts of the IFRS 9 were issued in November 2009 and October 2010.
    It replaces the parts of IAS 39 that relate to the classification and
    measurement of financial instruments. IFRS 9 requires financial assets to
    be classified into two measurement categories: those measured as at fair
    value and those measured at amortized cost. The determination is made at
    initial recognition. The classification depends on the entity's business
    model for managing its financial instruments and the contractual cash flow
    characteristics of the instrument. The main change regarding the financial
    liabilities is that, in cases where the fair value option is taken for
    financial liabilities, the part of a fair value change due to an entity's
    own credit risk is recorded in other comprehensive income rather than the
    income statement, unless this creates an accounting mismatch. Outotec is
    yet to assess IFRS 9's full impact and intends to adopt IFRS 9 wholly no
    later than the accounting period beginning on or after 1 January 2015.

  *IFRS 10 - Consolidated financial statements. The new standard of
    consolidated financial statements' builds on existing principles by
    identifying the concept of control as the determining factor as to whether
    an entity should be included within the consolidated financial statements
    of the parent company. The standard provides additional guidance to assist
    in the determination of control where this is difficult to assess. The
    standard is not expected to have material impact on Outotec's financial
    statements. Standard will be applied for accounting periods beginning on
    January 1, 2014.

  *IFRS 11 - Joint arrangements. IFRS 11 is a more realistic reflection of
    joint arrangements by focusing on the rights and obligations of the
    parties to the arrangement rather than its legal form. There are two types
    of joint arrangement: joint operations and joint ventures. Joint
    operations arise where a joint operator has rights to the assets and
    obligations relating to the arrangement and therefore accounts for its
    share of assets, liabilities, revenue and expenses. Joint ventures arise
    where the joint venturer has rights to the net assets of the arrangement
    and therefore equity accounts for its interest. Proportional consolidation
    of joint ventures is no longer allowed. The standard is not expected to
    have material impact on Outotec's financial statements. Standard will be
    applied for accounting periods beginning on January 1, 2014.

  *IFRS 12 - Disclosures of interests in other entities. The standard
    includes the disclosure requirements for all forms of interests in other
    entities, including joint arrangements, associates, special purpose
    vehicles and other off balance sheet vehicles. Outotec has yet to assess
    IFRS 12's full impact and intends to adopt IFRS 12 no later than the
    accounting period beginning on or after January 1, 2014.

  *IFRS 13 - Fair value measurement. The standard provides a precise
    definition of fair value and a single source of fair value measurement and
    disclosure requirements for use across IFRSs. The standard is not expected
    to have material impact on Outotec's financial statements. Standard will
    be applied for accounting periods beginning on January 1, 2013.

Use of estimates

IFRS requires management to make estimates and assumptions which affect the
reported amounts of assets and liabilities as well as the disclosure of
contingent assets and liabilities at the date of the financial statements, and
the reported amounts of income and expenses during the reporting period.
Accounting estimates are employed in the financial statements to determine
reported amounts, including the realisability of certain assets, the useful
lives of tangible and intangible assets, income taxes, provisions, pension
obligations and impairment of goodwill. These estimates are based on the
management's best knowledge of current events and actions; however, it is
possible that the actual results may differ from the estimates used in the
financial statements.

Major Non-Recurring Items in Operating Profit                     Q1-Q4 Q1-Q4
EUR million                                                        2012  2011
One-time costs related to reorganization of business               -0.6  -3.7
One-time income related to reorganization of business                 -   1.1
Costs related to acquisitions                                      -2.7  -2.0
Reduction of earn-out payment liability related to acquisition of
Energy Products of Idaho LP                                         6.3     -

Income Tax Expenses       Q1-Q4 Q1-Q4
EUR million                2012  2011
Current taxes             -64.6 -33.5
Deferred taxes             12.6  -0.5
Total income tax expenses -51.9 -34.0

Property, Plant and Equipment                        December 31, December 31,
EUR million                                                  2012         2011
Historical cost at the beginning of the period              144,8        128,9
Translation differences                                      -0.1         -0.5
Additions                                                    21.2         17.9
Disposals                                                    -3.3         -4.5
Acquired subsidiaries                                         5.2          3.5
Reclassifications                                            -1.0         -0.6
Historical cost at the end of the period                    166.7        144.8
Accumulated depreciation and impairment at the              -82.2        -76.2
beginning of the period
Translation differences                                      -0.0          0.2
Disposals                                                     2.6          3.4
Reclassifications                                             0.1         -0.3
Depreciation during the period                              -11.9         -9.5
Accumulated depreciation and impairment at the end          -91.4        -82.2
of the period
Carrying value at the end of the period                      75.3         62.5

Commitments and Contingent Liabilities            December 31, December 31,
EUR million                                               2012         2011
Pledges and mortgages                                      0.0          0.0
Guarantees for commercial commitments                    273.5        209.1
Minimum future lease payments on operating leases        157.8        161.3

No securities or collateral have been pledged. Commercial guarantees are
related to performance obligations of project and equipment deliveries. These
are issued by financial institutions or Outotec Oyj on behalf of group
companies. The total value of commercial guarantees above does not include
advance payment guarantees issued by the parent or other group companies or
guarantees for financial obligations. The total amount of guarantees for
financing issued by group companies amounted to EUR 22.4 million at December
31, 2012 (at December 31, 2011: EUR 25.8 million) and for commercial
guarantees including advance payment guarantees EUR 570.6 million at December
31, 2012 (at December 31, 2011: EUR 477.1 million). High exposure of on-demand
guarantees may increase the risk of claims that may have an impact on the
liquidity of Outotec.

Derivative Instruments
Currency and Interest Derivatives December 31, December 31,
EUR million                               2012         2011
Fair values, net                       11.6 *)     -9.6 **)
Nominal values                           871.3        545.4

*) of which EUR 10.1 million designated as cash flow hedges (EUR 10.0 million
from currency derivates, EUR 0.0 million from interest derivates).
**) of which EUR -3.6 million designated as cash flow hedges.

Related Party Transactions
Balances with Key Management

Outotec's board of directors granted to Outotec Management Oy an
interest-bearing loan at the maximum amount of EUR 5.0 million to finance the
acquisition of the Outotec shares. The amount of the outstanding loan was EUR
4.4 million at December 31, 2012 (December 31, 2011: EUR 4.3 million).

Outotec Oyj paid dividends to Outotec Management Oy EUR 0.2 million in April
2012 (EUR 0.1 million in April 2011).

Transactions and Balances with Associated Companies Q1-Q4 Q1-Q4
EUR million                                          2012  2011
Sales                                                 0.2   0.0
Other income                                          0.0   0.6
Purchases                                            -0.4  -0.3
Trade and other receivables                           0.3   0.3
Current liabilities                                   2.5   0.6
Loan receivables                                      2.5   0.6

Business Combinations

Outotec has acquired the following entities during 2012. The purchase price
allocation specification is combined for all acquired entities.

Numcore Ltd

Outotec has acquired Numcore Ltd in Kuopio, Finland. The acquisition was
completed on March, 2012. Numcore is a company developing and marketing
innovative online process control solutions based on 3D imaging. This
acquisition supports Outotec's growth strategy and strengthens Outotec's
competitive edge in providing advanced technology solutions. Numcore's
technology is already proven in flotation and thickener applications.
Furthermore, EIT technology can be utilized in Outotec's other business
segments.

The purchase price has been allocated to technologies. The remaining goodwill
EUR 4.5 million is mainly based on experienced personnel of Numcore and
synergy benefits.

Demil Manutenção Industrial Ltda

Outotec has acquired Demil Manutenção Industrial Ltda in Brazil. The
acquisition was completed on June, 2012. Demil provides industrial maintenance
services for iron ore pelletizing plants and is located in Guarapari, Espírito
Santo in Brazil.

Demil has approximately 300 employees and its annual sales are at the level of
EUR 10 million. The acquisition will provide a platform for further developing
Outotec's service business and capabilities in Brazil. Demil's services can be
offered to Outotec's Brazilian customers, pelletizing technology users in
particular.

The purchase price has been allocated mainly to customer relationships. The
remaining goodwill EUR 4.6 million is mainly based on the synergy benefits of
the customer relationship.

TME Group

Outotec has acquired Australian-owned TME Group. The acquisition was completed
on August, 2012. TME is a mining services company with offices throughout
Australia and in South Africa. TME provides grinding mill relining and mineral
processing plant maintenance services to customers mainly in Australia, Africa
and South East Asia.

With annual sales of approximately EUR 35 million, TME has 130 permanent
employees and a large casual labor workforce.

The purchase price has been allocated mainly to customer relationships. The
remaining goodwill EUR 14.9 million is mainly based on experienced personnel
of TME and synergy benefits. Purchase price allocation is preliminary and will
be finalized during 2013.

Backfill Specialists Pty Ltd

Outotec has acquired all the shares of Australian-based Backfill Specialists
Pty Ltd. The acquisition was completed on October, 2012. The acquisition
complements Outotec's expertise in paste plants and enables the company to
offer more comprehensive tailings treatment solutions to the mining industry
worldwide.

Backfill Specialists is a technical consulting and engineering company
specialized in mine backfilling solutions mostly in Australia. Its annual
sales have been roughly EUR 18 million.

The purchase price has been allocated to fixed assets and order backlog. The
remaining goodwill EUR 8.6 million is mainly based on experienced personnel
and synergy benefits. Purchase price allocation is preliminary and will be
finalized during 2013.

EUR million                     Fair values recorded on Carrying amounts prior
                                            acquisition         to acquisition
Customer contracts and customer                     4.8                      -
relationships
Intangible assets                                   2.1                    0.8
Property, plant and equipment                       5.2                    4.5
Inventories                                         1.6                    1.4
Trade and other receivables                         5.1                    4.5
Cash and cash equivalents                           3.0                    3.0
Total assets                                       21.7                   14.1
Interest-bearing liabilities                        1.3                    1.3
Deferred tax liabilities                            2.0                      -
Trade and other payables                            7.8                    7.8
Total liabilities                                  11.1                    9.1
Net assets                                         10.6                    5.0
Acquisition cost                                   43.0
Exchange differences                                0.2
Goodwill                                           32.6
Acquisition cost paid in cash                      35.7
at December 31, 2012
Cash and cash equivalents in                        3.0
subsidiary acquired
Exchange differences                                1.8
Cash flow effect at December                       34.6
31, 2012
Acquisition cost as liability                       7.3
December 31, 2012

Effect of acquired business combinations on Outotec Group's sales and profit
for the period in 2012

Outotec's sales for January 1, 2012- December 31, 2012 would have been EUR
2,121.1 million and profit for the period EUR 128.2 million if the
acquisitions of Numcore Ltd, Demil Manutenção Industrial Ltda, TME Group and
Backfill Specialists Pty Ltd would have been completed on January 1, 2012.

Segments' Sales and Operating Profit by Quarters
EUR million              Q4/10 Q1/11 Q2/11 Q3/11 Q4/11 Q1/12 Q2/12 Q3/12 Q4/12
Sales
Non-ferrous Solutions    223.9 162.0 191.4 235.5 358.8 260.7 335.9 312.5 396.5
Ferrous Solutions         43.2  43.6  42.6  60.0  74.8  70.0  81.8  92.9 126.4
Energy, Light Metals and
Environmental Solutions   65.3  46.1  57.7  61.4  70.9  85.9 106.8 100.1 134.1
Unallocated items *) and
intra-group sales         -2.2  -4.1  -3.4  -4.1  -7.7  -6.2   0.0  -2.7  -7.3
Total                    330.3 247.5 288.4 352.8 496.8 410.4 524.4 502.8 649.8
Operating profit
Non-ferrous Solutions     23.2  18.1  12.6  24.6  52.4  25.4  35.0  33.7  63.4
Ferrous Solutions          8.2   3.2  -1.9   6.0  -0.6   5.5   2.2   9.9  12.5
Energy, Light Metals and
Environmental Solutions   11.4   3.3   5.2  11.7   3.6   3.8   7.3   0.6   8.6
Unallocated **) and
intra-group items        -14.7  -5.7  -5.0  -9.1  -6.5  -7.2  -3.6  -3.2  -9.5
Total                     28.1  19.0  10.9  33.2  48.9  27.6  40.8  41.0  74.9

*) Unallocated items primarily include invoicing of group management and
administrative services.
**) Unallocated items primarily include group management and administrative
services.

Definitions for Key Financial Figures
Net interest-bearing debt  = Interest-bearing debt - interest-bearing
                             assets
Gearing                    = Net interest-bearing debt                   × 100
                             Total equity
Equity-to-assets ratio     = Total equity                                × 100
                             Total assets - advances received
Return on investment       = Operating profit + finance income          × 100
                             Total assets - non interest-bearing debt
                             (average for the period)
Return on equity           = Profit for the period                       × 100
                             Total equity (average for the period)
Research and development   = Research and development expenses in the
expenses                     statement of comprehensive income
                             (including expenses covered by grants
                             received)
Earnings per share         = Profit for the period attributable to the
                             equity holders of the parent company
                             Average number of shares during the period,
                             as adjusted for stock split
Dividend per share         = Dividend for the financial year
                             Number of shares at the end of the period,
                             as adjusted for stock split

DISTRIBUTION:

NASDAQ OMX Helsinki Ltd
Main media
www.outotec.com

Outotec's Financial Statements Review 2012

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Source: Outotec Oyj via Thomson Reuters ONE
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