Investing.com --Metso Oyj (HE:METSO) reported strong third-quarter order growth on Thursday, as sustained mining activity and rising demand for minerals-processing equipment boosted order intake, particularly in its Minerals segment.
Orders received rose 28% to €1.61 billion, while sales increased 3% to €1.37 billion. Adjusted EBITA climbed 4% to €230 million, and the order backlog expanded 20% year-on-year to €3.88 billion.
Minerals orders increased 34% year-on-year, with equipment orders surging 79% and aftermarket orders rising 11%. Demand remained broad-based across commodities, geographies and product areas, supported by favorable copper and gold prices. Order intake included a €90 million copper-related contract.
Aggregates orders rose 4%, while sales increased 5% to €324 million. Group aftermarket sales grew 10% to €778 million, accounting for 57% of total sales, compared with 53% a year earlier.
However, cash flow from operations fell to €136 million from €266 million in the prior-year period. Operating profit declined 4% to €197 million, while earnings per share from continuing operations fell to €0.15 from €0.17.
Chief Executive Sami Takaluoma said the company had converted strong customer activity into orders across its equipment and aftermarket businesses. "Together with continued solid execution and our organic and inorganic investments, we are well positioned for profitable growth," Takaluoma said.
Metso maintained its outlook for market activity in both Minerals and Aggregates to remain at current levels over the next six months. Takaluoma said high utilization at existing mining operations and preparations for longer-term mineral demand were creating opportunities across aftermarket services and equipment.
Original Article
Metso orders jump 28% as mining equipment demand drives backlog growth
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