FLSmidth reports stronger orders overall as cement sector suffers

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Denmark: Cement plant manufacturer FLSmidth has announced its financial results for 2017, which show, overall, its strongest order intake for four years. Total orders grew by 6% year-on-year in 2017, bolstered primarily by the company’s Minerals division.

Cement sector orders for the year were Euro611.0m, 1% lower than the Euro615.0m seen in 2016. Revenue from cement sector orders came to Euro547.9m, 5% lower than the US$576.0m orders received in 2016.

“2017 probably marked the trough of the business cycle and, based on our good positioning and strong life-cycle solutions, we expect our business to start growing again in the coming years. Our order intake increased and the momentum in the mining sector continues in 2018, while cement market conditions are expected to remain unchanged,” said CEO Thomas Schulz.

For 2018, FLSmidth anticipates an overall revenue from all activites of Euro2.42-2.68bn (2017 was Euro2.42bn).

Last modified on 14 February 2018

URL: https://www.globalcement.com/news/item/7071-flsmidth-reports-stronger-orders-overall-as-cement-sector-suffers

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