Interim Report for FLSmidth & Co. A/S 1 January - 31 March 2015
(Thomson Reuters ONE) -
Company Announcement to the Danish Financial Supervisory Authority No.
08-2015, 8 May 2015
Interim Report for FLSmidth & Co. A/S 1 January - 31 March 2015
The Board of Directors and the Group Management of FLSmidth & Co. A/S have today
reviewed and approved the Interim Report for 1 January to 31 March 2015.
The Interim Report has been presented in accordance with IAS 34 and additional
Danish information requirements regarding interim reporting of listed companies.
No review or auditing of the interim report has taken place.
The Interim Report is accessible at FLSmidth's website:
http://www.flsmidth.com/reports
The main conclusions of the Interim Report are:
Customer Services and Product Companies Divisions provide a stable and
profitable base in a tough market environment.
Margins expanded as a consequence of efficiency measures.
EBITA margin of 9.5% adjusted for non-recurring costs.
Positive free cash flow of DKK 715m owing to sale of Cembrit.
Sequential increase in order intake.
Market outlook and guidance for 2015 remain unchanged.
Financial results in Q1 2015
The order intake decreased 3% to DKK 4,677m (Q1 2014: DKK 4,841m)
The order backlog decreased 14% to DKK 18,952m (Q1 2014: DKK 22,152m)
Revenue decreased 3% to DKK 4,825m (Q1 2014: DKK 4,949m)
Earnings before amortisation and impairment of intangible assets (EBITA)
increased 15% to DKK 370m (Q1 2014: DKK 322m), corresponding to an EBITA margin
of 7.7% (Q1 2014: 6.5%)
Earnings before interest and tax (EBIT) increased 13% to DKK 266m (Q1 2014: DKK
236m)
Net profit amounted to DKK 272m (Q1 2014: DKK 115m)
Cash flow from operating activities amounted to DKK -45m (Q1 2014: DKK -552m)
Net working capital amounted to DKK 2,868m (Q1 2014: DKK 2,726m)
Return on Capital Employed (ROCE) increased to 11% (Q1 2014: 7%)
Guidance for 2015 (unchanged)
In 2015, FLSmidth & Co. A/S expects a consolidated revenue of DKK 19-21bn (Q1
2015: DKK 4.8bn) and an EBITA margin of 9-10% (Q1 2015: 7.7%).
The return on capital employed is expected to be 12-14% in 2015 (Q1 2015: 11%).
The effective tax rate is expected to be 31-33% (Q1 2015: 31%) and cash-flow
from investments is expected to be around DKK -0.4bn excluding acquisitions and
divestments.
(Q1 2015: DKK -70m).
With respect to the expected divisional performance, it is clear that 2015 will
be a challenging year for the two project divisions, Minerals and Cement,
considering the relatively low order backlog at the beginning of the year and
the current cyclical downturn. Cement, however, is expected to see a pickup in
order intake in 2015.
The Product Companies division and the Customer Services division are expected
to be on a growth trajectory with a potential to expand margins.
Please address any questions to this announcement to Mr Thomas Schulz, Group
CEO, telephone +45 36 18 18 00.
An investor & press meeting and telephone conference regarding the Interim
Report will be held today at 14:00 hours CET at the company's headquarters.
For further details please visit http://www.flsmidth.com/en-
US/News+and+Press/News/2015/Q1+2015+Invitation+to+investor+meeting
FLSmidth & Co. A/S
Group Communications & Investor Relations
1st Quarter Report 2015:
http://hugin.info/2106/R/1920099/687763.pdf
This announcement is distributed by GlobeNewswire on behalf of
GlobeNewswire clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: FLSmidth via GlobeNewswire
[HUG#1920099]
Unternehmensinformation / Kurzprofil:
Datum: 08.05.2015 - 11:59 Uhr
Sprache: Deutsch
News-ID 391936
Anzahl Zeichen: 4342
contact information:
Town:
Valby
Kategorie:
Business News
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