Welcome!

News Feed Item

Metso's Financial Statements Review January 1 - December 31, 2012: Continued growth and an improved result in 2012

HELSINKI, FINLAND -- (Marketwire) -- 02/07/13 -- Metso Corporation's stock exchange release on February 7, 2013 at 12:00 a.m. local time

We will arrange two news conferences, one for the media and another for investors and analysts, in Helsinki today. Both events will take place at Metso Group Head Office, Fabianinkatu 9 A, Helsinki, Finland. A press conference in Finnish for the media will be arranged at 1:30 p.m. - 2.15 p.m. and the news conference in English for investors and analysts will be arranged at 15:00 EET / Helsinki time (08:00 EST / New York, 13:00 GMT / London, 14:00 CET / Paris). The news conference can also be followed through a conference call and live webcast, details at the end of this release.

This is a summary of Metso's 2012 Financial Statements Review. Complete report is attached to this release as a pdf-file and is also available at www.metso.com/investors.

Figures in brackets, unless otherwise stated, refer to the comparison period, i.e. the same period last year.

Highlights of 2012

* New orders worth EUR 6,865 million were received during 2012 (EUR 7,961 million). Orders received by the services business increased 5 percent and were EUR 3,264 million, i.e. 49 percent of all orders received (EUR 3,100 million and 40%).

* Net sales increased 13 percent from 2011 and were EUR 7,504 million (EUR 6,646 million). Services business net sales increased 11 percent and totaled EUR 3,174 million, i.e. 44 percent of total net sales (EUR 2,871 million and 45%).

* Earnings before interest, tax, and amortization (EBITA), before non-recurring items, increased 9 percent and were EUR 684 million, i.e. 9.1 percent of net sales (EUR 629 million and 9.5%).

* Non-recurring expenses were EUR 36.0 million (EUR 5.1 million), mainly related to capacity adjustment measures.

* Earnings per share of EUR 2.49 (EUR 2.38).

* Free cash flow was EUR 257 million (EUR 375 million).

* The Board proposes a dividend of EUR 1.85 per share, i.e. 74 percent of earnings per share (EUR 1.70 and 71% of earnings per share).

Highlights of the last quarter of 2012

* New orders in October-December totaled EUR 1,699 million (EUR 1,313 million). Orders received increased in all reporting segments. Orders received by the services business increased strongly, by 11 percent, and were EUR 741 million, i.e. 45 percent of all orders received (EUR 669 million and 54%).

* Net sales remained similar to the comparison period, at EUR 2,098 million (EUR 2,074 million). Our services business net sales were up 5 percent and totaled EUR 870 million, accounting for 42 percent of total net sales (EUR 829 million and 41%).

* Earnings before interest, tax, and amortization (EBITA), before non-recurring items, decreased 3 percent and were EUR 196 million, i.e. 9.3 percent of net sales (EUR 202 million and 9.7%).

* Earnings per share of EUR 0.49 (EUR 0.81).

* Free cash flow was EUR 69 million (EUR 45 million).

Guidance for financial performance during 2013

Based on the current economic situation, market outlook, and our order backlog for 2013, as well as foreign exchange rates remaining similar to those in December 2012, we estimate that in 2013 our EBITA before non-recurring items will be at around 2012 levels and our net sales at 2012 level or slightly below.

Metso's President and CEO Matti Kähkönen's comments on 2012:

2012 was another year of growth and improved results for Metso. Our operating environment was somewhat challenging, as economic growth slowed in some of our main markets, such as China, which was reflected in our customers' decision-making on large capital projects. Despite this, our order intake during 2012 was good, thanks to smaller projects and services business. We met our goal of growing our services business by more than 10 percent, which is another strong achievement. Actively developing our services capabilities and offering continues to be our top priority, and will help us to grow the services business further in 2013 and beyond. In addition to top-line growth, we also improved our profit and return on capital employed during 2012.

Looking at our businesses, activity in the mining sector is expected to remain largely unchanged at the level seen in late 2012. Construction is seeing stable demand, while good activity in oil and gas continues to support Automation. We expect some large new pulp projects to go ahead during 2013, but the paper and board machine market continues to be quiet.

Our aim for 2013 is clear. We will focus on securing and enhancing our competitiveness and continue to utilize growth opportunities in various customer industries to add value for all of our stakeholders.

Metso's key figures
                                  Q4/   Q4/ Change % Q1-Q4/ Q1-Q4/ Change %
 EUR million                     2012  2011            2012   2011
---------------------------------------------------------------------------
 Orders received                1,699 1,313       29  6,865  7,961      -14
---------------------------------------------------------------------------
 Orders received of services      741   669       11  3,264  3,100        5
 business
---------------------------------------------------------------------------
    % of orders received (1))      45    54              49     40
---------------------------------------------------------------------------
 Order backlog at end of period                       4,515  5,310      -15
---------------------------------------------------------------------------
 Net sales                      2,098 2,074        1  7,504  6,646       13
---------------------------------------------------------------------------
 Net sales of services business   870   829        5  3,174  2,871       11
---------------------------------------------------------------------------
    % of net sales (1))            42    41              44     45
---------------------------------------------------------------------------
 Earnings before interest, tax
 and amortization (EBITA) and
 non-recurring items            195.9 202.1       -3  684.3  628.5        9
---------------------------------------------------------------------------
    % of net sales                9.3   9.7             9.1    9.5
---------------------------------------------------------------------------
 Operating profit               149.5 188.5      -21  598.5  571.8        5
---------------------------------------------------------------------------
    % of net sales                7.1   9.1             8.0    8.6
---------------------------------------------------------------------------
 Earnings per share, EUR         0.49  0.81      -40   2.49   2.38        5
---------------------------------------------------------------------------
 Free cash flow                    69    45       53    257    375      -31
---------------------------------------------------------------------------
 Return on capital employed
 (ROCE) before taxes, %                                19.6   18.4
---------------------------------------------------------------------------
 Equity to assets ratio at end of                      40.5   39.8
 period, %
---------------------------------------------------------------------------
 Gearing at end of period, %                           14.2   12.2
---------------------------------------------------------------------------

(1)() )Excluding Valmet Automotive

Short-term outlook

Market development

The global economic situation, together with demand in our customer industries, are largely unchanged from the last quarter of 2012. There are some signs of positive development in the US and China, which could potentially support customer industries in the second half of 2013. Stable capacity utilization rates and the need to increase operational efficiency are continuing to support our services businesses.

We expect underlying demand in the mining market to remain at the good level seen in late 2012. Due to expected high utilization rates at mines, and our large installed equipment base stronger services presence, we expect demand for our mining services to remain excellent. Demand for construction equipment is projected to remain flat and be satisfactory in the Asia-Pacific region. In Brazil, we expect the market to continues active. We anticipate that demand in Europe and North America will stay at current relatively low levels going forward. Demand for our construction industry services is expected to remain satisfactory.

Demand for our process automation systems and flow control products and services is expected to remain good. Strong demand in the oil and gas industry is expected to offset continuing softness in the pulp and paper industry.

The market for pulp mills is expected to remain satisfactory, with good demand for rebuilds and services. Demand for papermaking lines is expected to remain weak. Capacity utilization rates in the paper and board industry may decline somewhat, although the outlook for services is good. Demand for power plants that use renewable energy sources and for related services is expected to remain satisfactory.

Metso is a global supplier of technology and services to customers in the process industries, including mining, construction, pulp and paper, power, and oil and gas. Our 30,000 professionals based in over 50 countries deliver sustainability and profitability to customers worldwide. Expect results. www.metso.com , www.twitter.com/metsogroup

Metso Corporation

Harri Nikunen
CFO

Juha Rouhiainen
VP, Investor Relations

Invitation to news conferences for media, investors and analysts

Metso will arrange two news conferences in Helsinki today;

* A press conference in Finnish for the media will be arranged at 1:30 p.m. - 2.15 p.m.

* A news conference in English for investors and analysts will be arranged at 15:00 EET / Helsinki (08:00 EST / New York, 13:00 GMT / London, 14:00 CET / Paris)

Both events will take place at Metso Group Head Office, Fabianinkatu 9 A, Helsinki, Finland.

A news conference in English can also be followed through a conference call and live webcast at www.metso.com/IRwebcasts from 3:00 p.m. onwards. Questions are accepted during the event via the conference call only.

Due to the live webcast, we kindly ask those attending to be present 5 minutes prior to the start of the event.

Conference call details

Conference call participants are requested to dial in five minutes before the scheduled time at:

US: +1 877 491 0064
other countries: +44 20 7162 0077
access code: 927 187.

A replay of the call will be available until February 21, 2013 on the following phone numbers:

US: +1 954 334 0342
other countries: +44 20 7031 4064
access code: 927 187.

Audio file (mp3) and a transcript of the event will be made available for downloading at www.metso.com/IRwebcasts on Monday, February 11, 2013 the latest.

The presentation material for the event will be accessible after the publication of financial statements on February 7, 2012 at www.metso.com/Investors at approximately 12 noon EET.

Welcome

Distribution:
NASDAQ OMX Helsinki Ltd
Media
www.metso.com

Metso_financial_statements_review_2012: http://hugin.info/3017/R/1676315/546337.pdf

This announcement is distributed by Thomson Reuters on behalf of Thomson Reuters clients. The owner of this announcement warrants that:

(i) the releases contained herein are protected by copyright and other applicable laws; and

(ii) they are solely responsible for the content, accuracy and originality of the information contained therein.

Source: Metso Corporation via Thomson Reuters ONE

[HUG#1676315]

For further information, please contact:

Matti Kahkonen
President and CEO
Metso Corporation
tel. +358 20 484 3000

Harri Nikunen
CFO
Metso Corporation
tel. +358 20 484 3010

Juha Rouhiainen
VP, Investor Relations
Metso Corporation
tel. +358 20 484 3253

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
In his keynote at 19th Cloud Expo, Sheng Liang, co-founder and CEO of Rancher Labs, discussed the technological advances and new business opportunities created by the rapid adoption of containers. With the success of Amazon Web Services (AWS) and various open source technologies used to build private clouds, cloud computing has become an essential component of IT strategy. However, users continue to face challenges in implementing clouds, as older technologies evolve and newer ones like Docker c...
SYS-CON Events announced today that T-Mobile will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. As America's Un-carrier, T-Mobile US, Inc., is redefining the way consumers and businesses buy wireless services through leading product and service innovation. The Company's advanced nationwide 4G LTE network delivers outstanding wireless experiences to 67.4 million customers who are unwilling to compromise on ...
With major technology companies and startups seriously embracing Cloud strategies, now is the perfect time to attend @CloudExpo | @ThingsExpo, June 6-8, 2017, at the Javits Center in New York City, NY and October 31 - November 2, 2017, Santa Clara Convention Center, CA. Learn what is going on, contribute to the discussions, and ensure that your enterprise is on the right path to Digital Transformation.
20th Cloud Expo, taking place June 6-8, 2017, at the Javits Center in New York City, NY, will feature technical sessions from a rock star conference faculty and the leading industry players in the world. Cloud computing is now being embraced by a majority of enterprises of all sizes. Yesterday's debate about public vs. private has transformed into the reality of hybrid cloud: a recent survey shows that 74% of enterprises have a hybrid cloud strategy.
Data is an unusual currency; it is not restricted by the same transactional limitations as money or people. In fact, the more that you leverage your data across multiple business use cases, the more valuable it becomes to the organization. And the same can be said about the organization’s analytics. In his session at 19th Cloud Expo, Bill Schmarzo, CTO for the Big Data Practice at Dell EMC, introduced a methodology for capturing, enriching and sharing data (and analytics) across the organization...
Building a cross-cloud operational model can be a daunting task. Per-cloud silos are not the answer, but neither is a fully generic abstraction plane that strips out capabilities unique to a particular provider. In his session at 20th Cloud Expo, Chris Wolf, VP & Chief Technology Officer, Global Field & Industry at VMware, will discuss how successful organizations approach cloud operations and management, with insights into where operations should be centralized and when it’s best to decentraliz...
Five years ago development was seen as a dead-end career, now it’s anything but – with an explosion in mobile and IoT initiatives increasing the demand for skilled engineers. But apart from having a ready supply of great coders, what constitutes true ‘DevOps Royalty’? It’ll be the ability to craft resilient architectures, supportability, security everywhere across the software lifecycle. In his keynote at @DevOpsSummit at 20th Cloud Expo, Jeffrey Scheaffer, GM and SVP, Continuous Delivery Busine...
With major technology companies and startups seriously embracing IoT strategies, now is the perfect time to attend @ThingsExpo 2016 in New York. Learn what is going on, contribute to the discussions, and ensure that your enterprise is as "IoT-Ready" as it can be! Internet of @ThingsExpo, taking place June 6-8, 2017, at the Javits Center in New York City, New York, is co-located with 20th Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry p...
SYS-CON Events announced today that Progress, a global leader in application development, has been named “Bronze Sponsor” of SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Enterprises today are rapidly adopting the cloud, while continuing to retain business-critical/sensitive data inside the firewall. This is creating two separate data silos – one inside the firewall and the other outside the firewall. Cloud ISVs oft...
SYS-CON Events announced today that Juniper Networks (NYSE: JNPR), an industry leader in automated, scalable and secure networks, will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Juniper Networks challenges the status quo with products, solutions and services that transform the economics of networking. The company co-innovates with customers and partners to deliver automated, scalable and secure network...
SYS-CON Events announced today that CA Technologies has been named "Platinum Sponsor" of SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, New York, and 21st International Cloud Expo, which will take place in November in Silicon Valley, California.
In recent years, containers have taken the world by storm. Companies of all sizes and industries have realized the massive benefits of containers, such as unprecedented mobility, higher hardware utilization, and increased flexibility and agility; however, many containers today are non-persistent. Containers without persistence miss out on many benefits, and in many cases simply pass the responsibility of persistence onto other infrastructure, adding additional complexity.
New competitors, disruptive technologies, and growing expectations are pushing every business to both adopt and deliver new digital services. This ‘Digital Transformation’ demands rapid delivery and continuous iteration of new competitive services via multiple channels, which in turn demands new service delivery techniques – including DevOps. In this power panel at @DevOpsSummit 20th Cloud Expo, moderated by DevOps Conference Co-Chair Andi Mann, panelists will examine how DevOps helps to meet th...
DevOps is being widely accepted (if not fully adopted) as essential in enterprise IT. But as Enterprise DevOps gains maturity, expands scope, and increases velocity, the need for data-driven decisions across teams becomes more acute. DevOps teams in any modern business must wrangle the ‘digital exhaust’ from the delivery toolchain, "pervasive" and "cognitive" computing, APIs and services, mobile devices and applications, the Internet of Things, and now even blockchain.
Did you know that you can develop for mainframes in Java? Or that the testing and deployment can be automated across mobile to mainframe? In his session at @DevOpsSummit at 20th Cloud Expo, Vaughn Marshall, Sr. Principal Product Owner at CA Technologies, will discuss and demo how increasingly teams are developing with agile methodologies using modern development environments and automating testing and deployments, mobile to mainframe.