Expenses of Finnish companies caused by withdrawal from Russia estimated at EUR 3.5 billion — Trade Representation of RF in Finland
Expenses of Finnish companies caused by withdrawal from Russia are estimated at EUR 3.5 billion, Trade Representation of Russia in Finland said on its Telegram channel referring to the financial reports of the publicly traded companies.
Among the companies are Wartsila (EUR 200 billion), ABB (EUR 25 billion) and Konecranes (EUR 42 billion).
The foreign companies announced their exit from the Russian market after a special military operation began in Ukraine in February 2022.
Headquartered in Helsinki, Finland, Wartsila is a global leader in smart technologies and complete lifecycle solutions for the marine and energy markets. In 2020, Wartsila's net sales totalled EUR 4.6 billion with approximately 18,000 employees. The company has operations in over 200 locations in more than 70 countries around the world. Wartsila is listed on Nasdaq Helsinki.
Established in 1988, ABB is a global leader in power and automation technologies. ABB numbers 105,000 employees in over 100 countries. ABB structure includes five divisions and seven corporate research centres worldwide. ABB share are listed on stock exchanges in Zurich, Stockholm New York. Russia used to account for 1-2% of ABB Group’s annual revenues.
Konecranes is a world-leading group of Lifting Businesses™, serving a broad range of customers, including manufacturing and process industries, shipyards, ports and terminals. Konecranes provides productivity enhancing lifting solutions as well as services for lifting equipment of all makes. In 2021, the Group sales totaled EUR 3.2 million.
