FLSmidth rises on strong free cash flow

FLSmidth & Co. A/S

21/02/2024 09:57

** Shares in FLSmidth  FLS.CO  rise around 4% after the
Danish engineering group posted strong free cash flow in the
fourth quarter as it reported results in line with preliminary
figures released last month
    ** "FLSmidth has a very strong free cash flow in the fourth
quarter due to a drop in working capital," Sydbank analyst
Mikkel Emil Jensen comments
    ** The company posted free cash flow of DKK 727 million 
($105.27 million), up 10.2% from year earlier
    ** 2023 free cash flow was positive, amounting to DKK 366
million, versus the negative DKK 1,342 million reported year
ago, it said
    ** It confirmed the pre-announced forecast of 2024 revenue
at range of DKK 20 billion-DKK 21.5 billion, adjusted EBITA
margin at 9.0%-10.0%


($1 = 6.9060 Danish crowns)

 (Reporting by Marta Frąckowiak)
 ((marta.frackowiak@thomsonreuters.com))