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News FLSmidth’s sales decline as earnings rise in first half of 2021

FLSmidth’s sales decline as earnings rise in first half of 2021

Written by Global Cement staff 12 August 2021
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Denmark: FLSmidth recorded consolidated sales of Euro1.05bn in the first half of 2021, down by 7.0% year-on-year from Euro1.13bn. Its cement business’ sales fell by 17% to Euro346m from Euro419m. The supplier recorded earnings before interest, taxation, depreciation and amortisation (EBITDA) of Euro76.9m, up by 6.0% from Euro72.9m. Its total order backlog grew by 10% to US$2.24bn from US$2.05bn. It expects the majority of this to be converted into revenue in 2021. During the second quarter of the year, the company took in an order for Europe’s first full-scale clay calcination installation.

Chief executive officer Thomas Schulz said “Our second quarter showed positive progress across the board: A strong order intake, higher revenue from both service and capital businesses, 50% higher earnings before interest, taxation and amortisation (EBITA), further reduction in net working capital and a strong free cash flow.”

Last modified on 18 August 2021
Published in Global Cement News
Tagged under
  • Denmark
  • FLSmidth
  • Results
  • Sales
  • Profit
  • GCW519

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