Denmark: FLSmidth’s has grown its services activities slightly to Euro997m in the first nine months of 2016. Other than this revenue, profit and order intake have all fallen. Revenue has dropped by 12% year-on-year to Euro1.7bn, profit by 15% to Euro45.7m and order intake by 7% to Euro1.85bn. The engineering company has said it will take corrective actions through site closures, reducing management, optimising its supply chain and making procurement savings.
"The market for new cement capacity continues to be characterised by pricing pressure. That said, the pipeline of potential projects is encouraging, and current tendering activity gives reason to be cautiously optimistic about the mid-term outlook," said Group CEO Thomas Schulz.
