FLSmidth & Co. Group Interim Report for Q1 2021

By Globe Newswire4 days ago

Company Announcement No. 6-2021, 5 May 2021

Order intake increased for the third consecutive quarter

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Highlights in Q1 2021

  • Order intake increased 6% compared to Q4 2020, and organic order intake decreased 19% y-o-y
  • Organic revenue declined 13% y-o-y, comprising a 7% decrease in mining and a 23% decline in Cement
  • EBITA margin increased slightly to 5.1%
  • Positive cash flow and reduction in net debt
  • Cash focus and business improvement activities deliver results
  • Continued reshaping of Cement

Order intake increased for the third consecutive quarter, but decreased 19% organically y-o-y compared to the exceptionally strong Q1 2020. Including currency effects and acquisitions, order intake decreased by 24% y-o-y to DKK 4,985m. Sequentially, order intake increased 6% and service orders increased 19%. The order backlog increased by 9% to DKK 16,251m from DKK 14,874m in Q4 2020.

FLSmidth Group CEO, Thomas Schulz, commented: In light of the ongoing pandemic, FLSmidth delivered a solid Q1 with a good order intake and revenue as expected. The sequential increase in order intake was underpinned by a strong focus on service as well as orders for plant digitalisation and emissions reduction. The EBITA margin increased slightly and cash flow was strong. The organisation has done a tremendous job of managing safety protocols whilst helping our customers sustain production and improve operational efficiency.

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