FLSmidth publishes 3Q15 results

FLSmidth has posted a 7% decline in revenues for 3Q15, at DKK4609 million. Order intake was up 16% to DKK5151 million, while the order backlog decreased to DKK16 666 million. EBITA was down 27%, corresponding to a margin of 7.8%, while EBIT decreased 40% to DKK245 million. Group CEO Thomas Schulz commented: "With the 3rd quarter report published today, we showed that, despite a tough market environment, we delivered a solid performance, and we secured a strong order intake.”

Revenue for the year us expected to fall in the range of DKK19 – 21 billion with an EBITA margin of 7.5 – 8.5%.

Mr Schulz added: “The decision to divest bulk material handling and the transfer of the operation & maintenance business from Customer Services to the Cement Division, is one more step in preparing FLSmidth for the future."

Adapted from press release by Katherine Guenioui

Read the article online at: https://www.worldcement.com/europe-cis/13112015/flsmidth-publishes-3q15-results-991/