Denmark: FLSmidth’s sales were US$670m in the first quarter of 2022, up by 27% year-on-year. Its earnings before interest, taxation and amortisation (EBITA) rose by 59% to US$43m. The supplier’s cement business recorded a sales increase of 10%. This contributed to a continuation in the ‘positive trend’ in earnings from the end of 2021, along with improvements from executed reshaping activities. The business made a property sale worth US$3.27m. In light of the results for the quarter, the company announced that it has maintained its guidance of US$2.49 – 2.71bn consolidated sales and US$783 – 855m in cement business sales in 2022.
Chief executive officer Mikko Keto said “The first quarter of 2022 saw a strong momentum in order intake driven by both mining and cement.” Keto expanded “Our cement business has continued its positive development on improving profitability.”
Regarding the on-going Russian invasion of Ukraine, he said “Our key priority in this challenging time of war has been on the safety and well-being of our employees. We closely follow this tragic situation to ensure we take the right responsible decisions from a humanitarian, legal, and financial point of view.”
