Outotec's interim report January-September 2017
(Thomson Reuters ONE) -
OUTOTEC OYJ INTERIM REPORT NOVEMBER 2, 2017 AT 9:00 AM
INTERIM REPORT JANUARY - SEPTEMBER 2017
Sales and profitability improved, recovery of Metals, Energy & Water still
pending
"The minerals and metals processing market is slowly improving. Our order intake
in the reporting period increased by 16% and service orders by 10% from last
year. The third quarter order intake, however, was lower than last year due to
the timing of larger orders. Smaller equipment and service orders continued to
increase. Our total sales and service sales increased year on year. In the third
quarter, sales grew by 10% and service sales by 13%. Our profitability improved
significantly, due to increased sales and reduced fixed costs.
Minerals Processing improved its sales and profitability, and the segment's
adjusted EBIT margin reached 10.4% in the third quarter. The Metals, Energy &
Water result improved but remained negative. We are continuing to take action to
make this segment profitable again. We recently announced our plans to outsource
part of the segment's engineering activities, which will bring workforce
flexibility.
The demand for most metals is expected to continue strong, and we see many
attractive business opportunities. We will continue to further strengthen our
capabilities in serving our customers and our large installed base. The timing
of large plant orders is, however, still difficult to foresee," summarizes
President & CEO Markku Teräsvasara.
Summary of key figures Q3 Q3 Q1-Q3 Q1-Q3 Q1-Q4
EUR million 2017 2016 %(1) %(2) 2017 2016 %(1) %(2) 2016
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Order intake 234.2 274.1 -15 -15 838.8 725.0 16 13 1,007.7
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Service order intake 123.5 121.4 2 3 369.4 335.5 10 7 443.3
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Order backlog at end of
period 973.7 1,029.7 -5 - 973.7 1,029.7 -5 - 1,002.1
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Sales 270.4 245.2 10 12 810.3 752.5 8 6 1,057.9
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Service sales 119.5 105.3 13 14 329.2 319.6 3 0 447.0
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Gross margin, % 24.0 23.5 23.3 24.7 22.1
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Adjusted EBIT(3) 12.6 1.6 16.1 1.7 -23.0
--------------------------------------------------------------------------------
Adjusted EBIT(3), % 4.7 0.7 2.0 0.2 -2.2
--------------------------------------------------------------------------------
EBIT 10.6 -1.2 10.6 -14.3 -67.7
--------------------------------------------------------------------------------
EBIT, % 3.9 -0.5 1.3 -1.9 -6.4
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Net cash from operating
activities 27.2 -23.1 -7.3 -72.7 -84.6
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Earnings per share, EUR 0.02 -0.03 -0.02 -0.12 -0.42
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(1 )Change, %
(2 )Change in comparable currencies, %
(3 )Excluding restructuring and acquisition-related items and PPA amortizations.
Financial guidance for 2017 reiterated
The guidance for 2017 is based on the current order backlog and market outlook
as well as further cost savings.
* Sales are expected to be approximately EUR 1,100 - 1,200 million, and
* Adjusted EBIT* is expected to be approximately 3 - 4%
* Excluding restructuring and acquisition-related items, as well as purchase
price allocation amortizations.
This text is a summary of Outotec's January-September 2017 Interim report. The
full report is available as an attachment to this report.
FURTHER INFORMATION
Outotec Oyj
Markku Teräsvasara, CEO
Tel. +358 20 529 2000
Jari Ålgars, CFO
Tel. +358 20 529 2007
Rita Uotila, Vice President - Investor Relations
Tel. +358 20 529 2003, mobile +358 400 954 141
Format for e-mail addresses: firstname.lastname(at)outotec.com
BRIEFING/TELECONFERENCE
Date: November 2, 2017
Time: 2:00 PM EET
Venue: Outotec House, Rauhalanpuisto 9, Espoo, Finland
Joining the teleconference
To register as a participant for the teleconference and Q&A session, please dial
in 5 to 10 minutes before the beginning of the event using the numbers below.
The contact information is gathered for registration purposes only and it is not
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Dial in numbers:
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United States +1 719-457-1036
Confirmation Code: 6217383
DISTRIBUTION
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Main media
www.outotec.com
Outotec's interim report January-September 2017:
http://hugin.info/137025/R/2146565/823083.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: Outotec Oyj via GlobeNewswire
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