Metso lowers its financial guidance for 2013
Metso Corporation's stock exchange release on October 17, 2013 at 9:00 a.m. local time
Metso has decided to lower the guidance for its financial performance for 2013. The weakened outlook is resulting primarily from lower profitability at the separate business entity Valmet Automotive during the second half of the year.
The updated guidance is as follows:
We estimate that our net sales and EBITA before non-recurring items in 2013 will be significantly lower than those in 2012.
The previous guidance, published on July 25, 2013, stated that:
We estimate that our net sales and EBITA before non-recurring items in 2013 will be somewhat lower than those in 2012.
Both statements above are related to Metso's current segment reporting and are based on the economic situation, market outlook, order backlog for 2013, and foreign exchange rates remaining similar to those at the time of publishing.
In addition to the updated guidance for the whole company, Metso publishes the following additional segment information for 2013:
- Mining and Construction: Net sales are expected to be somewhat lower and EBITA before non-recurring items at around the same level compared to 2012
- Automation: Net sales are expected to be at around the same level and EBITA before non-recurring items is expected to improve significantly compared to 2012
- Pulp Paper and Power (businesses to be demerged from Metso): Both net sales and EBITA before non-recurring items are expected to be significantly lower compared to 2012. Net sales and EBITA during the second half are expected to be at about the first half's level.
- Valmet Automotive is expected to book a substantial loss for 2013
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 contribute to sustainability and deliver profitability to customers worldwide. Metso's shares are listed on the NASDAQ OMX Helsinki Ltd.
Further information, please contact:
Harri Nikunen, CFO, Metso Corporation, tel +358 20 484 3010
Markku Honkasalo, CFO, Pulp, Paper and Power, Metso Corporation, tel. +358 20 484 100
VP, Investor Relations
NASDAQ OMX Helsinki Ltd