Metso's Interim Review January 1 - June 30, 2014 - Seite 2
Overall, the second quarter shows that our delivery mix and the strong contribution that comes from our services business enables us to improve profitability even when volumes are lower. The new strategy we published today is designed to increase our focus on our high-margin businesses and, together with our in-house initiatives, will help make Metso an even stronger performer going forward and able to deliver greater value to our shareholders."
Key figures
EUR million |
Q2/ 2014 |
Q2/ 2013 |
Chan- ge % |
Q1- Q2/ 2014 |
Q1- Q2/ 2013 |
Chan- ge % |
2013 |
Orders received | 947 | 968 | -2 | 1,822 | 1,999 | -9 | 3,709 |
Orders received by the services business |
534 | 522 | 2 | 1,079 | 1,111 | -3 | 2,038 |
% of orders received | 56 | 54 | 59 | 56 | 55 | ||
Order backlog at the end of the period | 1,938 | 2,306 | -16 | 1,927 | |||
Net sales | 962 | 988 | -3 | 1,779 | 1,903 | -7 | 3,858 |
Net sales of the services business | 507 | 507 | 0 | 945 | 973 | -3 | 1,976 |
% of net sales | 53 | 51 | 53 | 51 | 51 | ||
Earnings before interests, tax and amortization (EBITA) and non-recurring items |
131.2 | 117.7 | 11 | 218.7 | 220.5 | -1 | 496 |
% of net sales | 13.6 | 11.9 | 12.3 | 11.6 | 12.8 | ||
Operating profit | 101.9 | 92.4 | 10 | 178.2 | 190.5 | -6 | 423 |
% of net sales | 10.6 | 9.4 | 10.0 | 10.0 | 11.0 | ||
Earnings per share, EUR | 0.35 | 0.35 | 0.63 | 0.72 | 1.59 | ||
Free cash flow | 47 | 35 | 34 | 95 | 82 | 16 | 251 |
Return on capital employed (ROCE) before taxes, annualized % |
16.6 | 16.7 | 16.6 | 16.7 | 18.6 | ||
Equity-to-asset ratio at end of the period,% | 37.3 | 36.2 | 37.3 | 36.2 | 36.9 | ||
Net gearing at end of the period, % | 53.4 | 46.7 | 53.4 | 46.7 | 41.6 |
For illustrative purposes, the balance sheet key figures for the comparison period have been restated to represent continuing operations.
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Short-term outlook
Market development
We expect demand for mining equipment and projects to remain weak but stable. Due to our large installed equipment base and our stronger services presence, we expect demand for our mining services
to remain good.
Demand for construction equipment and related services is expected to be satisfactory.
Demand for products and services for our flow control business is expected to remain good, whereas for our process automation systems business is expected to remain satisfactory.
Metso is a leading process performance provider, with customers in the mining, construction, and oil & gas industries. Our focus is on the continuous development of
intelligent solutions that improve sustainability and profitability. Metso's shares are listed on the NASDAQ OMX Helsinki Ltd. Metso employs around 16,000 professionals in 50 countries. Expect
results.