The Supreme Administrative Court has partly accepted Valmet's appeal of the reassessment decision it received

HELSINKI, Sept. 13, 2021 /PRNewswire/ -- The Supreme Administrative Court has partly accepted Valmet's appeal related to the reassessment decision received by Valmet Technologies Inc concerning tax years 2010-2012. The Supreme Administrative Court has ruled in its decision made on September 13, 2021, that the company shall receive a refund of about EUR 4 million for additional taxes, late payment interest and penalties. The decision will have a positive impact of about EUR 4 million on Valmet's third quarter 2021 profit for the period.

Valmet announced on December 22, 2016, that it had received a reassessment decision from the Finnish tax authority for Valmet Technologies Inc and that it will appeal the decision to Board of Adjustment of the Finnish tax authority. The reassessment decision concerned compensation charged by Valmet Technologies Inc from its foreign subsidiaries and based on the decision, Valmet was imposed to pay additional taxes, late payment interest and penalties in total of EUR 19 million.

Further information, please contact:

Pekka Rouhiainen, Director, Investor Relations, Valmet, tel. +358 10 672 0020

VALMET

Kari Saarinen
CFO

Pekka Rouhiainen
Director, Investor Relations

Valmet is the leading global developer and supplier of process technologies, automation and services for the pulp, paper and energy industries. We aim to become the global champion in serving our customers.

Valmet's strong technology offering includes pulp mills, tissue, board and paper production lines, as well as power plants for bioenergy production. Our advanced services and automation solutions improve the reliability and performance of our customers' processes and enhance the effective utilization of raw materials and energy.

Valmet's net sales in 2020 were approximately EUR 3.7 billion. Our 14,000 professionals around the world work close to our customers and are committed to moving our customers' performance forward - every day. Valmet's head office is in Espoo, Finland and its shares are listed on the Nasdaq Helsinki.

Read more www.valmet.com, www.twitter.com/valmetglobal

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