Sulzer to write off assets in Russia and Poland

Following the Board’s decision to begin the process of exiting the Russian market and the closing of the Polish businesses, the company has decided to write off most of its assets in both countries. After carefully looking at all options, Sulzer expects a one-time impact in the range of CHF 125m to CHF 135m at current foreign exchange rates. CHF 125m will be recognized in H1 of 2022. The one-time asset write-offs will have no significant impact on Sulzer’s operational results, however on Net Income, which was CHF 86m for H1 2021 and CHF 141m for the full year, respectively. Sulzer will report its H1 results on July 29, 2022.

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