From the Wires
Metso's Capital Markets Day to focus on the Group's services business, and will include preliminary assessment on Metso's financial performance in 2013
By: Marketwired .
Dec. 11, 2012 01:39 AM
HELSINKI, FINLAND -- (Marketwire) -- 12/11/12 --
Metso will hold a Capital Markets Day event focused on the Group's services business today, December 11, at Automation's Valve Technology Center in Vantaa, Finland. Metso's senior management will review the Group's strategy and financial performance at the event, and provide updated guidance on the future prospects of its businesses.
Metso's services business, one of the Group's key growth areas, will be covered extensively at the Capital Markets Day. A number of growth opportunities in the services business have been identified in all of Metso's segments, and to outline the potential seen here Metso has decided to announce the following growth target and profitability data:
* Metso's target is to grow annual net sales of its services business from the current level of approx. EUR 3.2 billion to EUR 4.5 billion by the end of 2016. This target is in line with the previously announced goal of annual growth of over 10%. * The EBITA margin (before non-recurring items) of Metso' services business was 14-15% in 2010, 2011, and the first three quarters of 2012. In addition to increasing net sales, Metso is also aiming to increase the EBITA margin of its services business.
Assessment on Metso's financial performance in 2013
Metso's management has also decided to provide the following update on the Group's financial performance in 2013:
Based on our current view of the global economy, market outlook, and our order backlog for 2013, we estimate that:
* Our net sales and EBITA before non-recurring items in 2013 will be at around the same level compared to 2012 * Our segments' EBITA before non-recurring items will develop in 2013 compared to 2012 as follows: * Mining and Construction and Automation improvement * Pulp, Paper and Power decline.
Metso's Capital Markets Day will begin at 9:00 a.m. Finnish time/EEST (7:00 a.m. GMT) Presentation material will be published on the Metso Web site at www.metso.com/cmd. The event will also be broadcast live via the site (compatible also for mobile devices). Recordings of individual presentations will be posted online after the event.
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.
VP, Investor Relations
NASDAQ OMX Helsinki Ltd
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
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