02/02/2018 07:00:04

Metso's Financial Statements Review January 1 - December 31, 2017

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Metso's Financial Statements Review January 1 - December 31, 2017

Metso Corporation, Stock exchange release, February 2, 2018 at 09:00 a.m. EET

 

Metso will arrange an audio cast today

at 1:00 p.m. EET, which is available at

www.metso.com/latestreports

. The event will feature a simultaneous conference call allowing participants to ask questions. Details of the call are available at the end of this release.

This is a summary of Metso's January 1 - December 31, 2017 Financial Statements 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.

Fourth-quarter 2017 in brief

Full-year 2017 in brief

 Market outlook

Our market conditions are expected to develop as follows:

The outlook represents our expected sequential market development with a rolling six-month view

President and CEO Nico Delvaux:      

Despite our Flow Control segment and Minerals equipment delivering good performance, the fourth quarter proved to be difficult for us. The decline in the orders of the Minerals segment resulted mainly from mining equipment and services and was largely due to timing and tighter controls on terms and conditions. Performance of the Minerals segment fell short of expectations due to low deliveries of services and was further affected by the continued margin pressure in consumables. Constraints in both internal and external supply chain, following the significant ramp-up of activity during the year had an impact on Minerals profitability. While some of these challenges were specific to the quarter, heavy focus on improving our delivery capability and operational efficiency will remain a priority.

Nevertheless, 2017 included many positives that will continue to support Metso going forward. The market environment in our main industries improved throughout the year. We implemented a new operating model and initiated solid plans to strengthen our customer focus and promote innovation across the businesses to serve our customers in a better way. We are confident that these are the right steps in driving profitable growth going forward.

Key figures

EUR million

Q4/2017

  Q4/2016 Change %

2017

2016

Change %
Orders received

684

  672 2

2,982

2,724 9  
Orders received by the services business

435

  442 -2

1,897

1,741 9  
  % of orders received

64

  66  

64

64    
Order backlog at the end of the year

 

     

1,439

1,320 9  
Sales

710

  676 5

2,706

2,586 5  
Sales of the services business

458

  442 4

1,767

1,703 4  
  % of sales

65

  65  

65

66    
Earnings before interest, tax and amortization

(EBITA), adjusted

64

  64 1

244

274 -11  
  % of sales

9.1

  9.4  

 9.0

10.6    
Operating profit (EBIT)

60

  44 34

218

227 -4  
  % of sales

8.4

  6.6  

8.1

8.8    
Earnings per share, EUR

0.08

  0.17 -53

0.68

0.87 -22  
Free cash flow

57

  97 -41

158

339 -53  
Return on capital employed (ROCE) before taxes, %

 

     

10.3

10.4    
Equity-to-assets ratio at the end of the year, %

 

     

44.5

48.0    
Net gearing at the end of the year, %

 

     

1.8

-1.8    
Personnel at the end of the year

 

     

12,037

11,542 4  

Conference call details

Conference call participants are requested to dial in five minutes before the event begins on:

United States: +1 323 794 2095

other countries: +44 330 336 9104

The confirmation code for joining the conference call is 755916.

A recording and a transcript of the event will be available at

www.metso.com/latestreports

after the event has finished.

For further information, please contact:

Nico Delvaux, 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 Helsinki

Media

www.metso.com

Metso is a world-leading industrial company offering equipment and services for the sustainable processing and flow of natural resources in the mining, aggregates, recycling and process industries. With our unique knowledge and innovative solutions, we help our customers improve their operational efficiency, reduce risks and increase profitability. Metso is listed on the Nasdaq Helsinki in Finland and had sales of about EUR 2.7 billion in 2017. Metso employs over 12,000 people in more than 50 countries.

www.metso.comwww.twitter.com/metsogroup 

Metso 2017 Financial Statements Review


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

Attachment: Metso 2017 Financial Statements Review.pdf