Publications Coal International Coal International English Coal International Chinese Coal International Russian Mining & Quarry World International Guide to the Coalfields Subscriptions Journals Search News Events Mines & Quarries Suppliers Contact











29 Jul 2010

Metso Corporation´s Interim Review, January 1- June 30, 2010


Highlights of the second quarter of 2010
- New orders worth EUR 1,671 million were received in April-June, i.e. 64 percent more than in the comparison period (EUR 1,020 million in Q2/2009).
- At the end of June, the order backlog was up by 22 percent on the end of December 2009, and totaled EUR 4,176 million (EUR 3,415 million at December 31, 2009).
- Net sales increased by 10 percent on the comparison period, and were EUR 1,370 million (EUR 1,247 million in Q2/2009).
- Earnings before interest, tax and amortization (EBITA) were EUR 154.2 million, i.e. 11.3 percent of net sales (EUR 74.7 million and 6.0% in Q2/2009).
- Operating profit (EBIT) was EUR 140.0 million, i.e. 10.2 percent of net sales (EUR 65.9 million and 5.3% in Q2/2009).
- From Q2/2010 onwards, Metso will replace EBITA with EBITA before non-recurring items in order to improve comparability and to give a better view of the underlying operational performance. EBITA before non-recurring items in the second quarter was EUR 125.0 million, i.e. 9.1 percent of net sales (EUR 84.9 million and 6.8% in Q2/2009).
- EBITA and EBIT include as a whole EUR 29.2 million of positive non-recurring items (EUR 10.2 million negative non-recurring items in Q2/2009).
- Earnings per share were EUR 0.56 (EUR 0.26 in Q2/2009).
- Free cash flow was EUR 164 million (EUR 80 million in Q2/2009).
- Return on capital employed (ROCE) before taxes was 12.6 percent (9.3% in Q2/2009).
"As we have previously estimated Metso's positive development continued in the second quarter. The overall positive tone in the global economy and the recovery of demand remains in most of our customer industries, especially in the emerging economies", says Metso's President and CEO Jorma Eloranta.
"I am happy that all our key figures improved, not only compared to the second quarter of 2009 but also from the first quarter of this year. The improvement was thanks to steadily recovering demand, our improved competitiveness and continuously strengthening global presence. I am particularly pleased with the significant profitability improvement in our Paper and Fiber Technology segment.
We estimate that the overall positive mood in the global markets will continue despite some restlessness in the European financial markets. We are closely monitoring the situation and have so far not seen material impact on our global trading environment as evidenced by our strong order intake during the second quarter.
We have revised our net sales guidance based on positive developments, such as our increased order backlog and the expectation that the recovery of the global economy will continue. We now estimate that our net sales in 2010 will grow about 10 percent from the EUR 5 billion level of 2009. Our profitability guidance is intact: we expect our profitability to be satisfactory."
(Ref 1547)




http://www.metso.com
Tradelink Publications Ltd.           Company Number: 03817488           VAT Number: GB 728672208           Powered by FAH-Designs Ltd.