Brief: FLSmidth Revises 2024 Outlook

FLSmidth & Co. A/S

12/11/2024 06:43

Nov 12 (Reuters) - FLSmidth & Co A/S  FLS.CO :
    * REVISES 2024 OUTLOOK
    * IN Q3 WE CONTINUED TO SEE A STABLE AND HEALTHY MINING
SERVICE
MARKET AND A RELATIVELY SOFTER MINING PRODUCTS MARKET
    * Q3 MINING ORDER INTAKE DECREASED BY 14% COMPARED TO Q3
2023,
MAINLY DUE TO LOWER PRODUCTS ORDER INTAKE
    * WE EXPECT THESE CONDITIONS IN MINING SERVICE MARKET AND
MINING
PRODUCTS MARKET TO CONTINUE INTO NEXT YEAR
    * Q3 CEMENT ORDER INTAKE DECREASED BY 31% COMPARED TO Q3
2023
    * CEMENT FINANCIALS IMPACTED BY RECENT DIVESTMENTS AND
CONTINUED
DE-RISKING
    * 2024 CEMENT OUTLOOK: ADJUSTED EBITA MARGIN OF AROUND 9%
(PREVIOUS: 8-9%)
    * REVISES GROUP ADJUSTED. EBITA MARGIN GUIDANCE TO ABOUT
11.0%
(EARLIER VIEW: 10.0-11.0%)
    * OUTLOOK 2024: NON-CORE ACTIVITIES FY EBITA LOSS OF DKK
200-250
MILLION (PREVIOUSLY LOSS OF DKK  200-300 MILLION)
    * 2024 MINING OUTLOOK: ADJUSTED EBITA MARGIN OF AROUND 13%
(PREVIOUS: 12.5-13%)
    * REVISES GROUP EBITA MARGIN GUIDANCE TO ABOUT 9.5% (EARLIER
VIEW:
8.5-9.5%)

Source text:  ID:nGNE94hBXP 
Further company coverage:  FLS.CO 

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