02/02/2018 07:00:04

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

Related content
02 Aug - 
Metso wins a significant mining equipment order from JS..
26 Jul - 
Metso's Half-Year Review January 1 - June 30, 2018
11 Jul - 
Metso to publish its Half-Year Review for January-June ..

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

  • Market activity continued at a healthy level

  • Orders received increased 2 percent, or 5 percent in constant currencies, and totaled EUR 684 million (EUR 672 million). Services orders decreased 2 percent, or increased 2 percent in constant currencies, to EUR 435 million (EUR 442 million)

  • Sales increased 5 percent, or 8 percent in constant currencies, to EUR 710 million (EUR 676 million). Services sales increased 4 percent, or 7 percent in constant currencies, and totaled EUR 458 million (EUR 442 million)

  • Adjusted EBITA was EUR 64 million, or 9.1 percent of sales (EUR 64 million, or 9.4%)

  • Operating profit (EBIT) totaled EUR 60 million (EUR 44 million)

  • Earnings per share totaled EUR 0.08 (EUR 0.17) and was affected by one-time tax-related items totaling EUR 29 million

  • Free cash flow was EUR 57 million (EUR 97 million)

Full-year 2017 in brief

  • Market activity improved compared to the previous year in all businesses

  • Orders received increased 9 percent and totaled EUR 2,982 million (EUR 2,724 million). Services orders increased 9 percent to EUR 1,897 million (EUR 1,741 million)

  • Sales increased 5 percent to EUR 2,706 million (EUR 2,586 million). Services sales increased 4 percent and totaled EUR 1,767 million (EUR 1,703 million)

  • Adjusted EBITA was EUR 244 million, or 9.0 percent of sales (EUR 274 million, or 10.6%)

  • Operating profit (EBIT) totaled EUR 218 million (EUR 227 million)

  • Earnings per share totaled EUR 0.68 (EUR 0.87) and was affected by one-time tax-related items totaling EUR 29 million

  • Free cash flow was EUR 158 million (EUR 339 million)

  • The Board of Directors proposes a dividend of EUR 1.05 per share (EUR 1.05)

 Market outlook

Our market conditions are expected to develop as follows:

  • Remain stable for Minerals equipment and services

  • Remain stable for Flow Control equipment and services

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

Post comment

Related debate

  • 1 week
  • 1 month
  • 1 Year
Ingen indlæg

HSBC Bank Plc : Form 8.5 (EPT/RI) - Lonmin PLC

22/02/2018 10:54:53
FORM 8.5 EPT/RI) PUBLIC DEALING DISCLOSURE BY AN EXEMPT PRINCIPAL TRADER WITH RECOGNISED INTERMEDIARY STATUS DEALING IN A CLIENT-SERVING CAPACITY Rule 8.5 of the Takeover Code (the "Code") 1.         KEY INFORMATION (a) Name of exempt principal trader: HSBC BANK PLC (b) Name of offeror/offeree i..

Rathbone Brothers Plc : Preliminary announcement of 2017 results

22/02/2018 07:00:19
Funds under management up 14.3% to £39.1 billionThis is a preliminary statement of annual results published in accordance with FCA Listing Rule 9.7A. It covers the year ended 31 December 2017. Mark Nicholls, Chairman of Rathbone Brothers Plc, said: "UK and global investment markets performed well in 2017, with some indices reaching record levels towards the end of the year. This outcome has b..

Elliott Capital Advisors, L.P : Form 8.3 - GKN Plc

Related news
21/02/2018 15:25:10
FORM 8.3 PUBLIC OPENING POSITION DISCLOSURE/DEALING DISCLOSURE BY A PERSON WITH INTERESTS IN RELEVANT SECURITIES REPRESENTING 1% OR MORE Rule 8.3 of the Takeover Code (the "Code") 1.         KEY INFORMATION (a) Full name of discloser: Elliott Capital Advisors, L.P. (for itself and related general partners ..

Most read news

  • 24 hours
  • 48 hours
  • 1 week
1
Analysis: Positioning to Benefit within Navistar International, Micron Technology, Hewlett Packard Enterprise, American Axle & Manufacturing, Gulfport Energy, and HP — Research Highlights Growth, Revenue, and Consolidated Results
2
Hudson Technologies Enters Into an Interim Waiver and Second Amendment to Its Term Loan Credit and Security Agreement
3
StarVR and Autodesk Bring Break-Through VR to Automotive Design with VRED Optimized for StarVR’s Next-Generation Head Mounted Display
4
Roper Technologies Prices Public Offering Of $700 Million Senior Unsecured Notes Due 2023 And $800 Million Senior Unsecured Notes Due 2028
5
Gainey McKenna & Egleston Announces A Class Action Lawsuit Has Been Filed Against Oracle Corporation (ORCL)

Related stock quotes

Metso Corporation 29.97 -1.2% Stock price decreasing

Buy and sell signals

  • Trend
  • Moneymachine

Copyright Euroinvestor A/S 2018   Disclaimer and Terms of Use
Quote information is delivered by Morningstar.
Data is delayed 15-20 minutes according to the distribution agreements set by the different exchanges.
 
15 August 2018 10:12:21
(UTC+00:00) Dublin, Edinburgh, Lisbon, London
Version: LiveBranchBuild_20180815.1 - EUROWEB7 - 2018-08-15 11:12:21 - 2018-08-15 10:12:21 - 1000 - Website: OKAY