Metso has reported double-digit growth in both its sales and received orders in the first three months of 2019.
The Finnish headquartered global quarrying and mining equipment market manufacturer saw its sales rise 17% in Q1 2019 to €836 million (compared to €714mn in Q1 2018). Metso’s recorded an 18% increase in its received orders which totalled €1.013bn (€859mn in Q1 2018). The company’s EBITA (earnings before interest, taxes and amortisation) in the quarter stood at €104 million, or 12.4% of sales (€85mn, or 11.9% in Q1 2018).
Commenting on the Q1 2019 results, Metso president and CEO Pekka Vauramo said the company’s first quarter of the year had been “strong, with high growth and improved profitability,” adding, “This was my first full quarter with Metso, and I am encouraged by many things I have seen so far when visiting many customers and meeting with more than half of our people. Our employees are highly motivated and committed, with deep knowledge about our customers’ needs as well as our products and technologies. We have the local presence for providing service to our customers and the skills for adding value.”
Vauramo said he expected market demand in both Metso’s Minerals and Flow Control business segments to remain at their current high level.
He continued: “The mining equipment market looks somewhat stronger compared to the other markets we serve, thanks to the mining customers’ plans to improve productivity and add capacity. There are of course uncertainties in the world economy overall, which have so far had limited impact on our customer activity.
“Going forward, we will concentrate on further developing our performance culture. I am confident that we have a significant potential to develop Metso further to deliver ’One Metso experience’ to our customers and sustainable returns to our shareholders.”
This article first appeared on our sister title Aggregates Business.