20/10/2017 07:00:33

Metso's Interim Review January 1 - September 30, 2017

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Metso's Interim Review January 1 - September 30, 2017

Metso Corporation, Stock exchange release, October 20, 2017 at 09:00 a.m. EEST

 

Metso will arrange a results audio cast todayat 1:00 p.m. EEST. The audio cast is viewable 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 Interim Review January 1 -September 30, 2017. 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.

Third-quarter 2017 in brief (compared to the third quarter of 2016)

January-September 2017 in brief (compared to corresponding period of 2016)

Market outlook

Metso has changed the way it comments on its market outlook. Going forward, our commentary will focus on the expected sequential market development with a rolling six months' view on the segment level (Minerals and Flow Control).

Our market conditions are expected to develop as follows:

President and CEO Nico Delvaux

Our order intake was good in the third quarter, growing 30 percent year-on-year. Even when excluding the large mining equipment order booked during the quarter, we saw a healthy order increase across our businesses, which is reflective of the current market situation. However, our performance during the quarter was clearly not satisfactory. Especially disappointing was that we needed to book 33 million euros for cost overruns and write-downs related to mining projects in the backlog. Going forward, we will need to focus on our delivery capability and improve our operational excellence.

Since I took over as President and CEO in the beginning of August, we have been making some changes to our organization and to the way we operate. Our aim is to improve the accountability of our businesses and to speed up decision-making, the implementation of our growth plans, and our response to market changes. I am convinced that these changes will help us to get the most out of the improved market conditions and deliver profitable growth going forward.

Key figures

EUR million

Q3/2017

Q3/2016 Change %

Q1-Q3/

2017

Q1-Q3/

2016

Change % 2016
Orders received

817

628 30

2,298

2,052 12 2,724
Orders received by the services business

486

422 15

1,462

1,299 13 1,741
  % of orders received

59

67  

64

63   64
Order backlog at the end of the period

 

   

1,491

1,305 14 1,320
Sales

673

638 5

1,996

1,910 5 2,586
Sales of the services business

440

413 7

1,308

1,261 4 1,703
  % of sales

65

65  

66

66   66
Earnings before interest, tax and amortization

(EBITA), adjusted

43.0

77.2 -44

179.4

210.2 -15 274.0
  % of sales

6.4

12.1  

9.0

11.0   10.6
Operating profit (EBIT)

39.4

62.9 -37

158.6

182.6 -13 227.1
  % of sales

5.9

9.9  

7.9

9.6   8.8
Earnings per share, EUR

0.13

0.24 -46

0.60

0.70 -14 0.87
Free cash flow

58

106 -45

101

242 -58 339
Return on capital employed (ROCE) before tax, annualized, %

 

   

9.8

11.2   10.4
Equity-to-assets ratio at the end of the period, %

 

   

45.3

48.1   48.0
Net gearing at the end of the period, %

 

   

3.8

5.1   -1.8
Personnel at the end of the period

 

   

11,698

11,647   11,542

Conference call details

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

United States: +1 719 457 1036

other countries: +44 330 336 9105

The confirmation code for joining the conference call is 2236457.

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 on Monday, October 23 at the latest.

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 OMX Helsinki Ltd

Media

www.metso.com

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 people in more than 50 countries. Expect results.

metso.com

Metso Q3 2017 interim 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: 821205.pdf