The Danish mining equipment company FLSmidth has reported its full-year 2025 results, which are in line with the preliminary figures announced in early February. The board has proposed to halve the dividend.
Revenue fell by 7.2 percent to DKK 14,612 million (15,740).
EBITDA amounted to DKK 2,571 million (1,890), with an EBITDA margin of 17.6 percent (12.0).
EBITA reached DKK 2,337 million (1,636), corresponding to an EBITA margin of 16.0 percent (10.4).
Adjusted EBITA was DKK 2,319 million (1,780), with an adjusted EBITA margin of 15.9 percent (11.3).
Operating profit came in at DKK 2,054 million (1,434), resulting in an operating margin of 14.1 percent (9.1).
Profit before tax was DKK 1,971 million (1,216).
Net profit after tax amounted to DKK 714 million (801).
Order intake landed at DKK 15,045 million (15,333), a decrease of 1.9 percent compared to the previous year.
The proposed ordinary dividend is DKK 4.0 per share (8.0).
"Although market conditions for large mining projects are expected to remain uncertain in the short term, we remain positive about the long-term growth drivers of the mining industry, including continued demand for critical minerals, the increasing complexity of mining operations, and the ongoing need for efficiency and productivity improvements. In addition, the resilience of our Services and PC&V businesses, combined with ongoing measures in the product area, provide a solid platform for continued progress," CEO Toni Laaksonen and Chairman Mads Nipper wrote in the report.
The company is guiding for organic revenue growth of between -1 and +4 percent for the full year 2026, and an adjusted EBITA margin between 15.5-16.5 percent.
FLSmidth & Co. A/S specializes in engineering and construction services for production facilities and equipment intended for the mining industry. Net sales (not including sold divisions) break down by activity as follows:
- sales of industrial plants and equipment (41.5%): cement plants, electrical power plants, control and cleaning systems, handling equipment, boilers, conveyers, pumps, etc.;
- other (58.5%): sales of spare parts, maintenance and training services, etc.
Net sales (not including sold divisions) are distributed geographically as follows: Denmark (0.1%), Europe/Middle East/Africa (17.8%), Latin America (28.7%), North America (26.1%), Asia/Pacific (16.4%) and Australia (10.9%).
In October 2025, the Group sold the cement business.
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