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Half Year Financial Review January-June 2021

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Key figures (excel)

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Q2/2021 in brief

• Orders received increased to EUR 487 million in stable business
• Orders received increased to EUR 765 million in capital business
• Net sales remained at the previous year's level at EUR 943 million
• Order backlog amounted to EUR 4.0 billion
• Comparable EBITA increased to EUR 95 million and margin was 10.1%
• Gearing was -1%

President and CEO Pasi Laine: Order backlog increased to a new record

"Valmet’s orders received increased to EUR 1,228 million in the second quarter of 2021. Orders received increased in all of Valmet’s four business lines. In the Paper business line, the quarterly order intake reached a new record and amounted to EUR 440 million. Orders received in Pulp and Energy increased to EUR 326 million. In the stable business (Services and Automation business lines), orders received increased to EUR 487 million, when including Automation package sales to capital projects. This means that the stable business orders received were now at the same level as in the second quarter of 2019, before the COVID-19 pandemic. Our order backlog increased to a record high of EUR 4,019 million, which is EUR 762 million higher than at the end of 2020.

Net sales remained at the previous year’s level and Comparable EBITA increased. The Comparable EBITA margin was 10.1 percent.

On July 2, Valmet announced the plan to combine Valmet and Neles through a merger. The combination is subject to, among other things, approval by the Extraordinary General Meetings of Valmet and Neles, as well as obtaining of merger control and other regulatory approvals.”