Metso reported 1Q operating profit of Euro 69.5 million
May 04, 2010. Metso’s net sales decreased by 4% on the comparison period, and were at Euro 1,170 million (Euro 1,220 million in 1Q 2009). Operating profit (EBIT) was Euro 69.5 million, i.e. 5.9% of net sales.
May 04, 2010. /Lesprom Network/. Metso’s net sales decreased by 4% on the comparison period, and were at Euro 1,170 million (Euro 1,220 million in 1Q 2009), company said in a statement received by Lesprom Network.
Earnings before interest, tax and amortization (EBITA) were Euro 83.8 million, i.e. 7.2% of net sales.
An operating profit of Euro 69.5 million was registered in the 1Q 2010, compared with an operating profit of Euro 58.6 million in the 1Q 2009, increasing 18.6%.
EBITA and EBIT include Euro 4.7 million in non-recurring expenses relating to capacity adjustment measures.
New orders worth Euro 1.36 billion were received in January-March this year, 45% more than Euro 942 million in the corresponding period of 2009.
Commenting on the results, Metso's president and CEO Jorma Eloranta stated, "It seems that the recovery is gaining momentum, and is today broader based than during the past six months...Based on the recovery in order intake during the past six months and the current market outlook, we are somewhat raising our net sales guidance for 2010. We estimate that our net sales will be over Euro 5 billion. We expect our 2010 profitability to be satisfactory."
Metso is a global supplier of sustainable technology and services for mining, construction, power generation, automation, recycling and the pulp and paper industries.