Metso gains after Q2 Minerals orders top forecasts
BUZZ-Metso gains after Q2 Minerals orders top forecasts ** Shares in Metso METSO.HE rise 5.6% after the Finnish mining equipment maker posted Q2 results with strong Minerals order intake, with orders up 21% organically and 11% above consensus, Jefferies says
** It posts orders in the quarter rising 18% to 1.42 billion euros ($1.62 billion), sales of 1.33 billion euros and EBIT at 185 million euros
** Jefferies says the highlight of the results was Minerals order intake which was materially ahead of figures reported by Epiroc and Sandvik last week
** The broker notes strength appears broad across commodities and geographies, but was particularly driven by commodities supporting Electrification and Energy transition; OE orders rose 50% year-on-year and Aftermarket orders 13%
** Jefferies also highlights that Metso kept its outlook unchanged, expecting market activity in both Minerals and Aggregates to remain at the current level
** Up to the previous session's close, shares were up 4.1% YTD
($1 = 0.8783 euros)
(Reporting by Agnieszka Gosciak-Rabalska)
((Agnieszka.Gosciak@thomsonreuters.com; +48 58 769 66 00;))
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