Metso's Interim Review January 1 - March 31, 2017
(Thomson Reuters ONE) -
Metso's Interim Review January 1 - March 31, 2017
Metso Corporation, Stock exchange release, April 25, 2017 at 09:00 a.m. EEST
Metso will arrange a results audiocast today at 1:00 p.m. EEST. The audiocast is
viewable at www.metso.com/latestreports. A simultaneous conference call will be
arranged, allowing participants to ask questions.
This is a summary of Metso's January-March 2017 Interim Review. The complete
report is attached to this release and is also available at
www.metso.com/latestreports.
Figures in brackets refer to the corresponding period in 2016, unless otherwise
stated.
First-quarter 2017 in brief (compared to the first quarter of 2016)
Metso's overall trading conditions are expected to be better than in 2016
(previously: slightly better). Demand for our products and services in 2017 is
expected to develop as follows:
· Market activity increased, especially in the services businesses
· Orders received increased 11 percent and totaled EUR 733 million (EUR 663
million). Services orders increased 15 percent to EUR 496 million (EUR 433
million)
· Sales grew 8 percent to EUR 648 million (EUR 601 million). Services sales
increased 3 percent and totaled EUR 423 million (EUR 409 million)
· Adjusted EBITA improved to EUR 66.4 million, or 10.2 percent of sales (EUR
55.7 million, or 9.3%)
· Free cash flow was EUR 39 million (EUR 62 million)
· Balance sheet remains strong with net gearing at -4.7 percent (-1.8% at
the end of 2016)
Outlook for 2017 (changes in brackets)
Metso's overall trading conditions are expected to be better than in 2016
(previously: slightly better). Demand for our products and services in 2017 is
expected to develop as follows:
· Remain weak for mining equipment, while improving to good for mining
services
(previously: weak for mining equipment and satisfactory for mining services)
· Remain good for aggregates equipment and services
· Improve to good for Flow Control products related to customers' new
investments and services (previously: both were satisfactory)
At the end of March 2017, our backlog for 2017 totaled approximately EUR 1.2
billion. In the current market conditions, we continue to expect some
postponements to planned delivery timetables. Negative adjustment items from
restructuring programs initiated in 2016 are expected to be EUR 10-15 million.
Capital expenditure excluding acquisitions is expected to increase compared to
2016, but to remain below depreciation and amortization.
President and CEO Matti Kähkönen:
We were pleased to see the market activity in our customer industries improving
in the first quarter. This could be seen in an increased order intake for both
Minerals and Flow Control compared to the first quarter of last year as well as
quarter-on-quarter. In aggregates, we continued to see good activity in the
United States and Europe, and other markets recovered from the low levels seen
in the previous years. Flow Control services saw increased activity in both oil
& gas and pulp & paper. The mining market has recovered gradually and we saw a
better activity in the services business during the quarter. The somewhat
brighter outlook in the mining industry is less visible in the equipment
business, even though there is some optimism in discussions with customers.
Our sales grew 8 percent during the quarter, which resulted largely from the
equipment business in the Minerals segment. Higher services orders will support
sales during the next quarters. Profitability of the Minerals segment improved,
but was somewhat diluted by sales mix and increased raw material prices. Flow
Control's performance was good and this is expected to continue going
forward.
This year's big themes for Metso are growth and digitalization. All of our
businesses have robust plans to accelerate organic growth and our financial
position also enables us to actively explore acquisition opportunities. During
the first quarter, we launched the Metso Digital Program, which is designed to
take us to a new level in the digital capabilities required to succeed and grow
in our businesses. We focus on digitalization in very practical ways, for
instance, using the Internet-of-Things (IoT) and analytics-based tools to help
our customers make the most of their assets and improve performance.
Key figures
EUR million Q1/2017 Q1/2016 Change % 2016
--------------------------------------------------------------------------------
Orders received 733 663 11 2,724
Orders received by the services business 496 433 15 1,741
% of orders received 68 65 64
Order backlog at the end of the period 1,396 1,300 7 1,320
Sales 648 601 8 2,586
Sales of the services business 423 409 3 1,703
% of sales 65 68 66
Earnings before interest, tax and amortization
(EBITA), adjusted 66.4 55.7 19 274.0
% of sales 10.2 9.3 10.6
Operating profit 59.4 50.4 18 227.1
% of sales 9.2 8.4 8.8
Earnings per share, EUR 0.23 0.18 28 0.87
Free cash flow 39 62 -37 339
Return on capital employed (ROCE) before tax,
annualized, % 11.1 9.4 10.4
Equity-to-asset ratio at the end of the period,
% 43.7 43.9 48.0
Net gearing at the end of the period, % -4.7 6.9 -1.8
Personnel at the end of the period 11,453 12,386 -8 11,542
--------------------------------------------------------------------------------
Metso is a world leading industrial company serving the mining, aggregates,
recycling, oil, gas, pulp, paper and process industries. We help our customers
improve their operational efficiency, reduce risks and increase profitability by
using our unique knowledge, experienced people and innovative solutions to build
new, sustainable ways of growing together.
Our products range from mining and aggregates processing equipment and systems
to industrial valves and controls. Our customers are supported by a broad scope
of services and a global network of over 80 service centers and about 6,000
services professionals. Metso has an uncompromising attitude towards safety.
Metso is listed on the NASDAQ OMX Helsinki, Finland, and had sales of about EUR
2.6 billion in 2016. Metso employs over 11,000 persons in more than 50
countries. Expect results.
www.metso.com, twitter.com/metsogroup
For further information, please contact:
Matti Kähkönen, President and CEO, Metso Corporation, tel. +358 20 484 3000
Eeva Sipilä, CFO, Metso Corporation, tel. +358 20 484 3010
Juha Rouhiainen, VP, Investor Relations, Metso Corporation, tel.
+358 20 484 3253
Metso Corporation
Eeva Sipilä
CFO
Juha Rouhiainen
VP, Investor Relations
Distribution:
NASDAQ OMX Helsinki Ltd
Media
www.metso.com
Conference call details
Conference call participants are requested to dial in five minutes before the
scheduled time on:
United States: +1 719 325 2385
other countries: +44 330 336 9105
The confirmation code for joining the conference call is 8897870.
A recording of the event is available at www.metso.com/latestreports at the
earliest after the event has finished and a transcript of the event will be
available.
Metso Interim Review Q1 2017:
http://hugin.info/3017/R/2098371/794732.pdf
This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Metso Corporation via GlobeNewswire
Unternehmensinformation / Kurzprofil:
Datum: 25.04.2017 - 08:00 Uhr
Sprache: Deutsch
News-ID 538017
Anzahl Zeichen: 9614
contact information:
Town:
Helsinki
Kategorie:
Business News
Diese Pressemitteilung wurde bisher 145 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"Metso's Interim Review January 1 - March 31, 2017"
steht unter der journalistisch-redaktionellen Verantwortung von
Metso Corporation (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
