Valmet's Interim Review
Figures in brackets, unless otherwise stated, refer to the comparison period, i.e. the same period of the previous year.
July-
** Orders received increased 58 percent to
- Orders received increased in all business lines.
- Orders received increased in
** Net sales increased 12 percent to
- Net sales increased in the Pulp and Energy, Paper and Services business lines, and remained at the previous year's level in the Automation business line.
** Comparable earnings before interest, taxes and amortization (Comparable EBITA) were
- Comparable EBITA increased due to higher gross profit.
** Earnings per share were
** Items affecting comparability amounted to
** Cash flow provided by operating activities was
January-
** Orders received increased 34 percent to
- Orders received increased in all business lines.
- Orders received increased in all areas.
** Net sales increased 6 percent to
- Net sales increased in the Paper business line, remained at the previous year's level in the Services, and Pulp and Energy business lines, and decreased in the Automation business line.
** Comparable earnings before interest, taxes and amortization (Comparable EBITA) were
- Comparable EBITA increased due to higher gross profit.
** Earnings per share were
** Items affecting comparability amounted to
** Cash flow provided by operating activities was
Guidance for 2021 unchanged
Valmet reiterates its guidance issued on
Short-term market outlook
Valmet estimates that the short-term market outlook for services has improved to good (previously good/satisfactory) and the short-term market outlook for tissue has decreased to satisfactory (previously good). Valmet reiterates the good short-term market outlook for automation, pulp, and board and paper and the weak short-term market outlook for energy.
President and CEO
"Valmet's orders received increased to
Our order backlog reached a record high of
Net sales increased both in the stable and capital business and amounted to
On
1 Including Automation package sales to capital projects
Merger with
On
Key figures1
EUR million | Q3/2021 | Q3/2020 | Change | Q1-Q3/ |
Q1-Q3/ | Change | ||||||
Orders received | 1,107 |
| 700 | 58 | % | 3,647 |
| 2,712 | 34 | % | ||
Order backlog2 | 4,199 |
| 3,311 | 27 | % | 4,199 |
| 3,311 | 27 | % | ||
Net sales | 935 |
| 832 | 12 | % | 2,736 |
| 2,573 | 6 | % | ||
Comparable earnings before interest, taxes and amortization (Comparable EBITA) | 107 |
| 91 | 18 | % | 282 |
| 218 | 29 | % | ||
% of net sales | 11.4 | % | 10.9 | % |
| 10.3 | % | 8.5 | % |
| ||
Earnings before interest, taxes and amortization (EBITA) | 107 |
| 87 | 22 | % | 293 |
| 208 | 41 | % | ||
% of net sales | 11.4 | % | 10.5 | % |
| 10.7 | % | 8.1 | % |
| ||
Operating profit (EBIT) | 95 |
| 79 | 19 | % | 255 |
| 184 | 39 | % | ||
% of net sales | 10.1 | % | 9.5 | % |
| 9.3 | % | 7.1 | % |
| ||
Profit before taxes | 95 |
| 75 | 27 | % | 253 |
| 174 | 45 | % | ||
Profit for the period | 75 |
| 57 | 32 | % | 197 |
| 131 | 50 | % | ||
Earnings per share, EUR | 0.50 |
| 0.38 | 32 | % | 1.31 |
| 0.88 | 50 | % | ||
Earnings per share, diluted, EUR | 0.50 |
| 0.38 | 32 | % | 1.31 |
| 0.88 | 50 | % | ||
Equity per share, | 8.10 |
| 6.81 | 19 | % | 8.10 |
| 6.81 | 19 | % | ||
Cash flow provided by operating activities | 57 |
| 94 | -39 | % | 385 |
| 418 | -8 | % | ||
Cash flow after investments | 19 |
| -380 |
| 312 |
| -100 |
| ||||
Return on equity (ROE) (annualized) |
|
|
| 22 | % | 17 | % |
| ||||
Return on capital employed (ROCE) before taxes (annualized) |
|
|
| 21 | % | 17 | % |
| ||||
Equity to assets ratio2 |
|
|
| 41 | % | 38 | % |
| ||||
Gearing2 |
|
|
| -1 | % | 18 | % |
| ||||
1 The calculation of key figures is presented on page 50.
2 At end of period.
Orders received, EUR million | Q3/2021 | Q3/2020 | Change | Q1-Q3/ |
Q1-Q3/ | Change | ||||||
Services | 343 |
| 288 |
| 19 | % | 1,099 |
| 1,014 |
| 8 | % |
Automation | 83 |
| 65 |
| 29 | % | 277 |
| 238 |
| 17 | % |
Pulp and Energy | 150 |
| 52 |
| >100% | 937 |
| 643 |
| 46 | % | |
Paper | 531 |
| 295 |
| 80 | % | 1,334 |
| 818 |
| 63 | % |
Total | 1,107 |
| 700 |
| 58 | % | 3,647 |
| 2,712 |
| 34 | % |
Order backlog, EUR million | As at Sep 30, 2021 |
As at | Change |
As at | ||||
Total | 4,199 |
| 3,311 |
| 27 | % | 4,019 |
|
Net sales, EUR million | Q3/2021 | Q3/2020 | Change | Q1-Q3/ |
Q1-Q3/ | Change | ||||||
Services | 324 |
| 307 |
| 5 | % | 951 |
| 924 |
| 3 | % |
Automation | 76 |
| 72 |
| 5 | % | 206 |
| 218 |
| -5 | % |
Pulp and Energy | 260 |
| 211 |
| 23 | % | 729 |
| 717 |
| 2 | % |
Paper | 276 |
| 242 |
| 14 | % | 849 |
| 713 |
| 19 | % |
Total | 935 |
| 832 |
| 12 | % | 2,736 |
| 2,573 |
| 6 | % |
News conference and webcast for analysts, investors and media
Valmet will arrange a news conference in English as a live webcast at https://valmet.videosync.fi/2021-q3 on
It is possible to take part in the news conference through a conference call. Conference call participants are requested to dial in at least five minutes prior to the start of the conference at
The participants will be asked to provide the conference PIN: 94442099#.
All questions should be presented in English.
The event can also be followed on Twitter at http://www.twitter.com/valmetir.
Important notice
The merger of
The information in this report is not directed to, or intended for distribution to or use by, any person or entity that is a citizen or resident of, or located in, any locality, state, country or other jurisdiction where such distribution or use would be contrary to law or regulation or which would require any registration or licensing within such jurisdiction and it does not constitute an offer of or an invitation by or on behalf of, Valmet, or any other person, to purchase any securities.
Further information, please contact:
VALMET
CFO
Director, Investor Relations
Valmet is the leading global developer and supplier of process technologies, automation and services for the pulp, paper and energy industries. We aim to become the global champion in serving our customers.
Valmet's strong technology offering includes pulp mills, tissue, board and paper production lines, as well as power plants for bioenergy production. Our advanced services and automation solutions improve the reliability and performance of our customers' processes and enhance the effective utilization of raw materials and energy.
Valmet's net sales in 2020 were approximately
Read more www.valmet.com, www.twitter.com/valmetglobal
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