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Frequently asked questions

This section contains frequently asked question related to Valmet and answers to them. Questions and answers related to the demerger can be found on the Demerger section.

Valmet's business operations and the operating environment

Which are Valmet’s business lines?
What do you mean by 'stable' and 'capital' business? 
When did Valmet acquire Automation business? 
What is included in Valmet's Services business line? 
What are the drivers for market growth in Valmet's businesses?
What is the outlook for your businesses currently?
Is there a seasonality in your business?
Who are Valmet’s customers? 
Who are Valmet’s competitors? 
How long does it take from order to delivery in a project?
In which geographical areas does Valmet have the most employees?

Sustainability

What is Valmet’s approach to sustainability?
Does Valmet have a Code of Conduct?
How does Valmet manage health, safety and environmental impacts?
How does Valmet ensure sustainability in its supply chain? 
How does Valmet report on its sustainability?
Is Valmet included in sustainability indices?

Valmet's share and shareholders

In which stock exchange are Valmet’s shares listed and when did the trading of shares commence? 
How many outstanding share does Valmet have?
Who are Valmet’s top shareholders?
How many shareholders does Valmet have? 
How many Valmet shares are held outside Finland? 

Valmet's management

Who is the CEO of Valmet?
Who are the members of Valmet’s Board of Directors?
Do Valmet’s Board members and Executive Team members own Valmet shares? 

Financials

What is the geographical split of Valmet’s sales?
What is your guidance and outlook?
What are your long-term targets?
What percentage of Valmet’s net sales is allocated to R&D?
Which currencies has most effect on Valmet's net sales and costs?
What kind of dividends does Valmet pay?
Who is Valmet’s auditor? 

Sustainability

How does Valmet ensure sustainability in its operations?
How important is health, safety and environment to Valmet?
Does Valmet have a code of conduct?
How does Valmet ensure sustainability in its supply chain management?
Is Valmet included in sustainability indices?
How does Valmet report on its sustainability

Valmet's business operations and the operating environment 

Which are Valmet’s business lines?
Valmet has four business lines: Services, Automation, Pulp and Energy, and Paper. Read more about Valmet's business lines.

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What do you mean by ‘stable’ and ‘capital’ business?
By stable business we mean the Services and Automation business lines, while the capital business includes the Pulp and Energy, and Paper business lines. The capital business is characterized by large projects, while the stable business often consists of a higher number of orders that are smaller in size.

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When did Valmet acquire Automation business?
On January 15, 2015 Valmet published a stock exchange release about the acquisition of Process Automation Systems business from Metso. The acquisition was completed on April 1, 2015. Along with the acquisition, Valmet formed a fourth business line, Automation. Read more about the acquisition of Process Automation Systems.

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What is included in Valmet's Services business line?
Services business line includes for example mill and plant improvements, upgrades, spare, wear and replacement parts and equipment. 

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What are the drivers for market growth in Valmet's businesses?
The growth drivers for Valmet’s businesses and the underlying megatrends are presented here.

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What is the outlook for your businesses currently?
Please find Valmet’s guidance for the year and short term market outlook here.

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Is there a seasonality in your business?
In the stable business (Services and Automation business lines), net sales is often higher in the second half of the year. In the capital business (Pulp and Energy, and Paper business lines) there is no seasonality, but the timing of orders can cause large fluctuation between the quarters.

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Who are Valmet’s customers?
The Services business line’s customers include companies mainly in the pulp, paper and energy industries. The customers of the Pulp and Energy business line’s pulp business include mechanical and chemical pulp producers (global pulp and paper producers, major regional companies, and smaller, local companies) as well as companies in the panelboard industry. The customers of the energy business include municipalities, utilities and companies in the energy, process, pulp and paper industries.

Customers of the Paper business line mainly consist of paper companies as well as board and tissue producers. The customers of the Automation business line consist both of pulp, energy and paper industries and other process industries.

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Who are Valmet’s competitors?
The competitive landscape is different in different business lines. Competition in the services business is more fragmented than in other businesses. Competition in the broad and emerging field of biomass conversion technologies is highly fragmented and is subject to rapid development as new technologies emerge and are proven. Read more about Valmet’s competitors.

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How long does it take from order to delivery in a project?
The length of projects varies, but typically the project duration is 12-24 months.

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In which geographical areas does Valmet have the most employees?
Valmet's employees split by geographical areas is presented in Business areas section. 

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Sustainability

 

What is Valmet’s approach to sustainability?

Sustainability is at the core of Valmet's business strategy and operations. It is integrated into our processes through the comprehensive Sustainability 360º agenda . The agenda focuses on five core areas across the value chain: sustainable supply chain; health, safety and environment; people and performance; sustainable solutions, and corporate citizenship. The agenda is aligned with the United Nations Sustainable Development goals and is executed through three-year action plan which includes detailed actions, targets and KPIs for each sustainability focus area. In addition, Valmet has dedicated policies on sustainable supply chain and health, safety and environment.

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Does Valmet have a Code of Conduct?

Yes. Valmet’s Code of Conduct guides the behavior and decisions of Valmet’s employees and its partners. The Code sets the standards of responsible behavior for the company and each individual employee and creates a uniform foundation for all our business transactions and work assignments.
The Code of Conduct covers sustainable business principles, people and society, and environmental responsibility. It also guides how to report possible misconduct to effectively address any unacceptable behavior, and to ensure that the Code applies to everyone, everywhere and every day.

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How does Valmet manage health, safety and environmental impacts?

 Valmet is committed to protecting the health, safety and environment of its people, customers and communities. We want to provide a safe working environment and minimize the environmental impact of our operations. Our goal is zero harm. According to Valmet’s Health, Safety and Environment Policy, compliance with applicable laws and regulations is only a minimum requirement. Valmet has defined minimum requirements for safety at work for high-risk activities to ensure a common safety platform across all its operations.

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How does Valmet ensure sustainability in its supply chain?

Valmet has established processes to evaluate and manage the sustainability of its suppliers’ operations in a globally aligned manner. The processes include a Sustainable Supply Chain Policy, sustainability risk assessments, supplier self-assessments, and supplier sustainability audits executed with a third party. Valmet’s Sustainable Supply Chain Policy applies to all suppliers globally and addresses Valmet’s requirements for its suppliers regarding business ethics, compliance, human rights and labor rights, occupational health and safety, environmental management and sustainability in products and services. Compliance with Valmet's Sustainable Supply Chain Policy is a prerequisite for entering and maintaining any kind of business relationship with Valmet. The policy also acts as a basis for supplier evaluations, self-assessments and sustainability audits. Read more. 

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How does Valmet report on its sustainability?

Valmet has been reporting its sustainability performance since 2002. Sustainability reporting is integrated into Valmet’s annual report. Valmet’s annual reporting consists of the Annual Review, Financial Statements, GRI Supplement, Remuneration Statement and Corporate Governance Statement. The Annual Review describes Valmet’s market environment and the annual progress of our strategy and operations and introduces our sustainability focus areas. The GRI Supplement includes Valmet’s sustainability reporting indicators and principles, and it is aligned with the Global Reporting Initiative (GRI). Selected sustainability indicators have been externally assured by an independent third party. Read the annual reports. 

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Is Valmet included in sustainability indices?

Yes. In 2018, Valmet was included in the Dow Jones Sustainability Index (DJSI) for the fifth consecutive year. Valmet was listed both in the Dow Jones Sustainability World and Europe indices. Valmet also reports to CDP Climate Index and achieved the best A rating in CDP's Climate program in 2018. Valmet has been selected as a constituent of the Ethibel Sustainability Index (ESI) Excellence Europe since 2017.

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Valmet's share and shareholders

In which stock exchange are Valmet’s shares listed and when did the trading of shares commence?
Valmet’s shares are listed on the official list of Nasdaq Helsinki. The trading commenced on January 2, 2014. Valmet shares are also traded in alternative market places, such as Cboe CXE and Turquoise.

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How many outstanding shares does Valmet have?

The number of outstanding shares is 149,864,220. (The total number of shares is 149,864,619, of which 244,027 are treasury shares.) 

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Who are Valmet’s top shareholders?
A list of Valmet’s top shareholders can be found here.

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How many shareholders does Valmet have? 
Valmet’s shareholder structure can be found here.

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How many Valmet shares are held outside Finland?
Valmet’s shareholder structure can be found here.

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Valmet's management 

Who is the CEO of Valmet?
Pasi Laine is the President and CEO of Valmet. Read more about Valmet's CEO and Executive Team.

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Who are the members of Valmet’s Board of Directors?
Valmet’s Board of Directors consists of Mikael Mäkinen (Chairman of the Board), Aaro Cantell (Vice-Chairman of the Board), Pekka Kemppainen, Monika Maurer, Eriikka Söderström, Tarja Tyni and Rogério Ziviani.

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Do Valmet’s Board members and Executive Team members own Valmet shares?
All members of Valmet’s Board of Directors and Executive Team own Valmet shares. Ownership information can be found here.

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Financials

What is the geographical split of Valmet’s net sales?
In 2018, 46 percent of Valmet’s net sales came from Europe, Middle East and Africa (EMEA), 20 percent came from North America, 5 percent from South America, 12 percent from Asia-Pacific and 16 percent from China.

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What is your guidance and outlook?
Please find Valmet's guidance for the year and short term market outlook here.

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What are your long-term targets?
Valmet's long-term financial targets are

  • Net sales for stable business to grow over two times the market growth
  • Net sales for capital business to exceed market growth
  • Comparable EBITA: 8-10%
  • Comparable return on capital employed (pre-tax), ROCE: 15-20%
  • Dividend payout at least 50% of net profit

More information and key actions to reach the targets are presented here. 

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What percentage of Valmet’s net sales is allocated to R&D?
In 2017 Valmet's research and development expenses amounted to EUR 66 million, i.e. 2 percent of net sales. Read more about R&D.

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Which currencies has most effect on Valmet’s net sales and costs?
Valmet operates globally and is exposed to foreign exchange risk in several currencies, although the geographical diversity of operations decrease the significance of any individual currency. A substantial proportion of Valmet’s net sales and costs are generated in euros (EUR), US dollars (USD), Swedish crowns (SEK) and Chinese yuans (CNY).

 

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What kind of dividends does Valmet pay?
According to Valmet’s dividend policy, the company aims to distribute at least 50 percent of its annual net profit in annual dividends or other forms of repatriation of capital to its shareholders. Dividend for the fiscal year 2018 is EUR 0.55 per share (EUR 0.55 per share was paid for fiscal year 2017).

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Who is Valmet’s auditor?
The Annual General Meeting on March 21, 2019 appointed PricewaterhouseCoopers Oy, authorized public accountants, as the company's auditor for a term expiring at the end of the next Annual General Meeting. The responsible auditor is be Jouko Malinen, APA. Read more about Valmet's auditor.

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Updated; Jun 13, 2019