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FLSmidth releases financial results for FY12

World Cement,

Financial results 2012

FLSmidth & Co. A/S has released its financial results for 2012. The company saw order intake increase by 15% y/y from DKK24 billion in 2011 to DKK27.7 billion in 2012. Revenue also grew during the period, rising by 21% y/y to reach DKK24.8 billion. EBITDA was up 9% y/y corresponding to an EBITDA margin of 11.1%. However, earnings before tax fell 5% y/y and profit for the year declined by 9% y/y to DKK1.3 billion.

Revenue increases in 4Q12

In the final quarter of 2012, orders were up 4% y/y to DKK6.1 billion. Revenue also increased, reaching DKK8 billion from last year’s DKK6.9 billion. EBITDA fell 1% y/y to DKK966 million during 4Q12, corresponding to an EBITDA margin of 12%. Profit for the quarter dropped by 19% from DKK567 million in 4Q11 to DKK462 million in 4Q12.

Looking ahead

In 2013, FLSmidth predicts that consolidated revenue will reach DKK27 – 30 billion with an EBITA margin of 8 – 10%. Revenue from the Cement Division is expected to come in at DKK5 – 7 billion with an EBITA margin of 6 – 8%. While the expected revenue for the Mineral Processing and Material Handling Divisions has been put at DKK10 – 12 billion and DKK4 – 6 billion, respectively. The EBITA margin for Customer Services in 2013 is likely to be 13 – 15%, with a revenue of DKK8 – 10 billion.

Adapted from press release by Louise Fordham.

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