RECHERCHE PAR

Annuaire des émetteurs Annuaire des émetteurs
MOTS CLÉS
SOCIÉTÉS / ISIN
TYPE D'INFORMATION
SECTEUR D'ACTIVITÉ

Lancer la recherche  RECHERCHE AVANCÉE

COMPARTIMENTS / INDICES

France
Amérique
Asie
Océanie
Afrique
Europe

CAC 40 ACTU

FLUX

Mon RSS Mon Google Microsoft Live Mon Yahoo

FLSMIDTH & CO.

FLSmidth & Co. FLSmidth & Co.

FLSmidth & Co.



Société : FLSmidth & Co. Compartiment : Autre
ISIN : DK0010234467 Diffuseur : Thomson Reuters ONE
Type de document : Communiqués d'information permanente / Mise à disposition    
Date de publication : 07/02/2018 12:00    

Annual Report 2017 for FLSmidth & Co.

Annual Report 2017 for FLSmidth & Co.

Company Announcement No. 1-2018, 7 February 2018

Solid operating results in a trough year - outlook positive

Sound free cash flow. Highest order intake since 2013

2017 highlights

  • Highest order intake in four years
  • ROCE back in double-digits
  • Revenue and EBITA in line with guidance
  • Solid free cash flow
  • Strong capital structure

       

"2017 probably marked the trough of the business cycle, and based on our good positioning and strong life-cycle solutions, we expect our business to start growing again in the coming years. Our order intake increased and the momentum in the mining industry continues in 2018, while cement market conditions are expected to remain unchanged," commented Group CEO Thomas Schulz.

The order intake grew 6% in 2017, in particular driven by stronger demand in the Minerals division in the second half of 2017, but also by total service activities. Revenue declined 1% in 2017.

EBITA increased by 18% and the EBITA margin increased to 8.4% from 7.1% due to a slightly higher gross margin and lower administrative costs. Adjusted for one-off impacts, the EBITA margin was 8.7% (2016: 8.0%). Financial items, taxes and discontinued activities had a considerable negative impact on profits in 2017.

The return on capital employed increased to 10.4% from 8.5% in 2016. Driven by lower net working capital and a positive free cash flow of DKK 952m, net interest-bearing debt declined to DKK 1.5bn and the financial gearing (NIBD/EBITDA) decreased to 0.9, the lowest level since 2011. Reflecting the strong capital structure, the proposed dividend is DKK 8 per share (2016: DKK 6).

Guidance for 2018
FLSmidth guides for revenue of DKK 18-20bn (2017: 18.0bn) and an EBITA margin of 8-10% (2017: 8.4%). The return on capital employed (ROCE) is expected to be 10-12% (2017: 10.4%).


"Our customers' constant pursuit of productivity entails a growing interest in digital solutions. As Productivity Provider #1, we will take digitalization to the next level. Combined with this we see significant growth opportunities in wear parts and products and implementing ongoing improvements of procurement. These offerings will enable us to capture the future growth," said Thomas Schulz.

Contacts

Investors
Pernille Friis Andersen, tel +45 36 18 18 87, pefa@flsmidth.com
Nicolai Mauritzen, tel +45 36 18 18 51, nicm@flsmidth.com  

Media
Sofie Karen Lindberg, tel +45 30 93 18 77, skl@flsmidth.com  

Key figures 2017

(DKKm)Q4 2017Q4 2016Change (%)20172016Change (%)
Order intake (gross)4,8364,5446%19,17018,3035%
- of which service order intake 2,693 2,616 3% 10,710 10,020 7%
Service order intake share 56% 57%   56% 55%  
Order backlog 13,654 13,887 -2% 13,654 13,887 -2%
Revenue4,9435,525-11%18,00018,192-1%
- of which service revenue 2,583 2,870 -10% 10,473 10,238 2%
Service revenue share 52% 52%   58% 56%  
Gross profit1,2341,301-5%4,5974,5810%
Gross margin 25.0% 23.5%   25.5% 25.2%  
EBITDA before special non-recurring items 493 515 -4% 1,732 1,588 9%
EBITA 465 426 9% 1,515 1,289 18%
EBITA margin9.4%7.7% 8.4%7.1% 
EBITA margin adjusted for one-off cost 9.3% 9.7%   8.9% 8.0%  
EBIT37230821%1,11588127%
EBIT margin 7.5% 5.6%   6.2% 4.8%  
Profit(185)182n/a74522-86%
CFFO 546 608 -10% 1,065 1,447 -26%
Free cash flow 602 564 7% 952 1,253 -24%
Net working capital 1,833 2,099 -13% 1,833 2,099 -13%
Net interest-bearing debt (1,545) (2,525) -39% (1,545) (2,525) -39%

 
For additional information, go to the Investor Room at www.flsmidth.com

FLSmidth delivers sustainable productivity to the global mining and cement industries. As the market-leading supplier of engineering, equipment and service solutions, FLSmidth improves performance, drives down costs, and reduces the environmental impact of operations. Present in more than 50 countries and headquartered in Copenhagen, Denmark, the Group and its 11,700 employees generated revenue of DKK 18 billion in 2017. www.flsmidth.com 

Annual report 2017



This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: FLSmidth via Globenewswire

RETOUR À LA LISTE