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Outotec Oyj : Outotec's January-March 2013 Interim Report



          Outotec Oyj : Outotec's January-March 2013 Interim Report

OUTOTEC OYJ   INTERIM REPORT   APRIL 26, 2013 AT 9.00 AM

INTERIM REPORT JANUARY-MARCH 2013

Continued growth in order intake and sales

January-March 2013 in brief (2012 corresponding period):

  * Order intake: EUR 491.1 (425.4) million, +15% 

  * Order backlog: EUR 1,938.9 (1,991.8) million, -3% 

  * Sales: EUR 502.9 (410.4) million, +23% 

  * Services sales: EUR 103.8 (89.5) million, +16% 

  * Operating profit from business operations^1): EUR 35.0 (30.6) million,
    +14% 

Financial guidance for 2013 reiterated

Based on the strong order backlog, current market outlook and customer
tendering activity, the management expects that in 2013:

  * Sales will be approximately EUR 2.1-2.3 billion, and 

  * Operating profit margin from business operations^1) will be approximately
    9.5-10.5% 

^1) Excluding one-time items and purchase price allocations (PPA)
amortizations

Summary of key figures                    Q1      Q1
                                        2013    2012 Last 12 months Q1-Q4 2012
Sales, EUR million                     502.9   410.4        2,179.9    2,087.4
Gross margin, %                         19.1    21.4           20.3       20.8
Operating profit from business
operations, EUR million                 35.0    30.6          198.1      193.8
Operating profit from business
operations, %                            7.0     7.5            9.1        9.3
Operating profit, EUR million           31.7    27.6          188.4      184.3
Operating profit, %                      6.3     6.7            8.6        8.8
Profit before taxes, EUR million        29.9    27.7          181.9      179.7
Net cash from operating activities,
EUR million                            -33.6     9.9           33.6       77.1
Net interest-bearing debt at the end
of the period, EUR million            -218.4  -334.2         -218.4     -264.7
Gearing at the end of period, %        -49.4   -89.1          -49.4      -56.0
Working capital at the end of the
period, EUR million                   -148.7  -257.0         -148.7     -191.3
Return on investment, %                 19.9    25.3           35.0       37.0
Return on equity, %                     18.6    20.1           31.7       29.4
Order backlog at the end of the
period, EUR million                  1,938.9 1,991.8        1,938.9    1,947.1
Order intake, EUR million              491.1   425.4        2,150.2    2,084.4
Personnel, average for the period      4,825   4,020          4,657      4,456
Earnings per share, EUR                 0.12    0.11           0.72       0.70

 

President and CEO Pertti Korhonen:

"The overall market activity and the demand for Outotec's technologies and
services continued solid during the first quarter. Thanks to our competitive
offering, global market reach and solid project execution, we succeeded in
growing both our order intake and sales from the comparison period. The total
value of unannounced orders, which generally are less than EUR 10 million, was
at all time high and services sales grew in line with our strategy. Operating
profit increased from the comparison period, the slightly lower operating
profit percentage is mainly attributable to normal quarterly profit
recognition fluctuations of project business. Our strong order backlog gave us
a good start to the year.

Highlights in the first quarter included the long term operation and
maintenance contract with Russian Copper Company's Mikheevsky concentrator,
the order for a renewable energy solution for a bio-ethanol facility in the
USA, the contract for the delivery of iron ore pelletizing technology in China
and the acquisition of Scanalyse, a software technology company providing
process equipment condition and performance monitoring services.

After the recovery since mid 2012, uncertainties regarding global macro
economy have increased again during recent weeks. This with the recent years'
cost overruns in large greenfield mining projects is driving the mining and
metal companies to reduce their investment risks and to focus on increasing
capacity and efficiency of their existing operations. As a result, investments
are currently shifting from large greenfield projects to brownfield
modernization and capacity enhancements. These trends are likely to slow down
the CAPEX market and large greenfield projects in short term - but at the same
time - customers' changed purchasing criteria create new opportunities for
Outotec.

Outotec's business outlook for 2013 is solid, despite the macroeconomic
uncertainties and the changes in the market dynamics. We have a large and
active sales funnel, including also a healthy number of large prospects. Our
research centers continue to operate at full capacity making tests,
feasibility studies and process development for our customers' new
investments. Predictability of investment costs and time schedules together
with performance guarantees are becoming increasingly important for our
customers - resonating well with Outotec's value proposition. In addition, we
believe that environmental investments will further increase as governments
are paying more and more attention to the necessity of sustainable
development, also in developing markets.

AMENDMENT IN REPORTING STANDARD AND FREE SHARE ISSUE (SPLIT)

From January 1, 2013, Outotec adopted the amendments to IAS 19 (revised)
Employee benefits. The most significant changes relate to the accounting for
defined benefit obligations and plan assets. The amendments require the
recognition of changes in benefit obligations and in fair value of plan assets
when they occur. The restated comparison period's figures are presented in
this Interim Report's notes section.

The shares issued in the free share issue (split) approved by Outotec's AGM on
March 26, 2013, were entered in the share register on April 2, 2013. The total
amount of Outotec's shares increased to 183,121,492 as shareholders were
issued with three new shares for each old share. The new shares became subject
to public trading as of April 3, 2013. Share based key figures have been
restated to reflect the increased number of shares.

CHANGES IN DISCLOSURE PROCEDURE

Outotec Oyj is adopting a new disclosure procedure in accordance with the
Standard 5.2b of the Finnish Financial Supervision Authority (valid from
January 1, 2011). This is a summary of Outotec's January-March 2013 Interim
Report and the complete report with tables is available as a pdf file
attachment to this stock exchange release. > The complete report as pdf

FURTHER INFORMATION

Outotec Oyj

Pertti Korhonen, President and CEO
tel. +358 20 529 211

Mikko Puolakka, CFO
tel. +358 20 529 2002

Rita Uotila, Vice President - Investor Relations
tel. +358 20 529 2003, mobile +358 400 954 141

Format for e-mail addresses: firstname.lastname@outotec.com

BRIEFING

Date: Friday, April 26, 2013

Time: 2.00 pm (Finnish time)

Venue: Hotel Scandic Simonkenttä, Simonkatu 9, Helsinki

Joining via webcast

You may follow the briefing via a live webcast at www.outotec.com. The webcast
will be recorded and published on Outotec's website for on-demand viewing.

Joining via teleconference

You may also join the briefing by telephone. To register as a participant in
the teleconference and Q&A session, please dial 5 to 10 minutes before the
start of the event:

FI/UK: +44 20 7162 0025   
US/CANADA: +1 334 323 6201
Password: 931254

In addition, an instant replay service of the conference call will be
available until midnight on April 29, 2013, using the following numbers:

FI/UK: +44 20 7031 4064
US: +1 954 334 0342
Access code: 931254

Contact information is gathered for registration purposes only and is not used
for commercial purposes.

FINANCIAL REPORTING SCHEDULE IN 2013

  * Interim Report for January-June 2013: July 31 

  * Interim Report for January-September 2013: October 30 (according to the
    new segment reporting structure published on April 9, 2013)  

DISTRIBUTION

NASDAQ OMX Helsinki Ltd
Main media
www.outotec.com

Outotec in brief

Outotec provides leading technologies and services for the sustainable use of
Earth's natural resources. As the global leader in minerals and metals
processing technology, Outotec has developed over decades many breakthrough
technologies. The company also provides innovative solutions for industrial
water treatment, the utilization of alternative energy sources and the
chemical industry. With a global network of sales and service centers,
research facilities and approximately 5,000 experts, Outotec generated annual
sales of approximately EUR 2 billion in 2012. Outotec shares are listed on
NASDAQ OMX Helsinki. www.outotec.com

Outotec's January-March 2013 Interim Report

------------------------------------------------------------------------------

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: Outotec Oyj via Thomson Reuters ONE
HUG#1696699
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