Figures in brackets refer to the corresponding period in 2021, unless otherwise stated.
Segment information for 2021 has been restated to reflect the segment structure changes that were announced in
Fourth-quarter 2022 in brief
- Strong market activity across all businesses
-
Orders received increased 21% and totaled
EUR 1,590 million (EUR 1,310 million ) -
Sales grew 12% to
EUR 1,434 million (EUR 1,278 million ) -
Adjusted EBITA increased 30% to
EUR 212 million , or 14.8% of sales (EUR 164 million , or 12.8%) -
Operating profit increased to
EUR 185 million , or 12.9% of sales (EUR 130 million , or 10.2%) -
Cash flow from operations totaled
EUR 212 million (EUR 164 million )
2022 in brief
- Orders received increased 11% to
EUR 6,024 million (EUR 5,421 million ) -
Sales grew 25% to
EUR 5,295 million (EUR 4,236 million ) -
Adjusted EBITA increased 34% to
EUR 731 million , or 13.8% of sales (EUR 547 million , or 12.9%) -
Operating profit was
EUR 504 million , or 9.5% of sales (EUR 425 million , or 10.0%), including aEUR 150 million non-recurring charge related to the wind-down of the business inRussia booked in the second quarter -
Earnings per share were
EUR 0.36 (EUR 0.41 ) and for continuing operationsEUR 0.40 (EUR 0.35 ) -
Cash flow from operations was
EUR 322 million (EUR 608 million ), affected by an increase in working capital -
Board of Directors will propose a dividend of
EUR 0.30 (EUR 0.24 ) for the financial year 2022, to be paid in two equal installments
President and CEO
We ended last year on a positive note, with high organic order and sales growth and profitability at the same strong level seen in the third quarter. The market activity in the fourth quarter was in line with our earlier expectations and was boosted by a few larger orders for Minerals and Metals. Also Aggregates saw growth in equipment orders, thanks to the strong North American market and
Quarterly sales increased 12%, thanks to all segments executing on their backlogs efficiently. The services business growth was 21%, reflecting the high order intake during the previous quarters and the easing of supply chain challenges. Our adjusted EBITA margin remained strong at 14.8%, which is just shy of our target of 15%.
Looking at 2022, we are proud of the progress made across the company, despite the challenging market conditions caused by inflation and supply chain constraints. In addition, we exited the Russian market and had to commence a wind-down of our contracts with Russian customers. The customer activity in the other main markets was high, and we were successful in winning new orders, with several of them including a significant amount of Planet Positive products and technologies. The services business saw strong development with 25% sales growth. The impact of active cost and inflation management and other internal efficiency actions became more visible during the second half of the year and resulted in a significant profitability improvement.
The importance of sustainability in our customer industries continues to grow, and we have made progress in both our own footprint and in helping our customers to meet their targets. Sales of Planet Positive products increased 51% to
For the first half of 2023, we expect customer activity to remain at the current level, thanks to the megatrends relating to electrification and battery metals driving the demand in the minerals and metals markets. We also expect, the aggregates markets to hold up well in
Market outlook
According to its disclosure policy,
In its previously published outlook
Key figures
EUR million | Q4/2022 | Q4/2021 | Change % | 2022 | 2021 | Change % |
Orders received | 1,590 | 1,310 | 21 | 6,024 | 5,421 | 11 |
Orders received by services business | 667 | 636 | 5 | 2,860 | 2,393 | 20 |
% of orders received | 42 | 49 | - | 47 | 44 | - |
Order backlog | - | - | - | 3,825 | 3,536 | 8 |
Sales | 1,434 | 1,278 | 12 | 5,295 | 4,236 | 25 |
Sales by services business | 709 | 585 | 21 | 2,574 | 2,126 | 21 |
% of sales | 49 | 46 | - | 49 | 50 | - |
Adjusted EBITA | 212 | 164 | 30 | 731 | 547 | 34 |
% of sales | 14.8 | 12.8 | - | 13.8 | 12.9 | - |
Operating profit* | 185 | 130 | 42 | 504 | 425 | 19 |
% of sales | 12.9 | 10.2 | - | 9.5 | 10.0 | - |
Earnings per share, continuing operations, EUR | 0.16 | 0.11 | 45 | 0.40 | 0.35 | 14 |
Cash flow from operations | 212 | 164 | 29 | 322 | 608 | -47 |
Gearing, % | - | - | - | 29.1 | 20.9 | - |
Personnel at end of period | - | - | - | 16,705 | 15,630 | 7 |
*A
Audiocast and conference call details
The audiocast can be followedat the company's website. A recording and a transcript will be available at the same webpage after the event has finished.
The teleconference can be accessed by registering on the link below.
http://palvelu.flik.fi/teleconference/?id=10010565
The complete Financial Statements Review is available as an attachment to this release.
Further information, please contact:
CFO
VP, Investor Relations
Distribution:
Main media
www.mogroup.com
https://news.cision.com/metso-outotec-oyj/r/metso-outotec-s-financial-statements-review-january-1---december-31--2022,c3717155
https://mb.cision.com/Public/19166/3717155/b5c57c6826357a4f.pdf
(c) 2023 Cision. All rights reserved., source