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President and CEO Pasi Laine: Strong start for Flow Control as part of Valmet
"Valmet’s orders received increased to EUR 1,306 million in the second quarter of 2022.
Orders received increased in Automation and Services segments, and decreased in the
Process Technologies segment. Our order backlog increased to EUR 4,784 million, which is
EUR 688 million higher than at the end of 2021.
Net sales increased in all business lines. This is a good achievement, as lockdowns in China,
the war in Ukraine and a fire at one of our sites in Finland impacted the operations during the
quarter. Comparable EBITA increased, but Comparable EBITA margin decreased. Comparable
EBITA increased in Automation and Services, and decreased in Process Technologies. Cost
inflation impacted Valmet’s margins during the quarter. Valmet’s goal is to offset the cost
inflation at least partly through increased productivity, procurement savings and price
increases.
The merger of Neles into Valmet was completed on April 1, 2022, and Neles became Valmet’s
fifth business line called Flow Control. Flow Control is part of Valmet's Automation segment.
The integration of Flow Control into Valmet is proceeding according to the plan. Active sales
and marketing of Valmet's whole offering and implementation of several cost synergy actions
were started during the quarter. Our customers appreciate Valmet's unique offering, which
combines process technologies, automation and services."
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