OUTOTEC OYJ FINANCIAL STATEMENTS REVIEW FEBRUARY 13, 2017 AT 9.00 AM
FINANCIAL STATEMENTS REVIEW JANUARY-DECEMBER 2016
Good development in Minerals Processing business
January-December 2016 in brief (comparison period January-December 2015):
October-December 2016 in brief (comparison period October-December 2015):
Financial guidance for 2017
Guidance for 2017 is based on the current order backlog and market outlook as well as achieved cost savings.
* Excluding restructuring and acquisition-related costs as well as purchase price allocation amortizations.
Summary of the Group's key figures | Q4 | Q4 | Q1-Q4 | Q1-Q4 |
2016 | 2015 | 2016 | 2015 | |
Order intake, EUR million | 282.7 | 267.2 | 1,007.7 | 1,189.9 |
Service order intake, EUR million | 107.8 | 109.3 | 443.3 | 496.6 |
Share of services in order intake, % | 38.2 | 40.9 | 44.0 | 41.7 |
Order backlog at the end of the period, EUR million | 1,002.1 | 1,102.8 | 1,002.1 | 1,102.8 |
Sales, EUR million | 305.4 | 305.7 | 1,057.9 | 1,201.2 |
Service sales, EUR million | 127.4 | 138.0 | 447.0 | 511.3 |
Share of services in sales, % | 41.7 | 45.1 | 42.3 | 42.6 |
Gross margin, % | 15.6 | 26.4 | 22.1 | 27.9 |
Adjusted EBIT1, EUR million | -24.8 | 17.6 | -23.0 | 56.0 |
Adjusted EBIT1, % | -8.1 | 5.8 | -2.2 | 4.7 |
EBIT, EUR million | -53.5 | -30.6 | -67.7 | -12.3 |
EBIT, % | -17.5 | -10.0 | -6.4 | -1.0 |
Result before taxes, EUR million | -56.6 | -32.1 | -78.1 | -22.9 |
Net cash from operating activities, EUR million | -11.9 | 47.7 | -84.6 | 69.5 |
Net interest-bearing debt at the end of the period, EUR million | -4.52 | 39.9 | -4.52 | 39.9 |
Equity at the end of the period, EUR million | 498.1 | 404.7 | 498.1 | 404.7 |
Equity-to-assets ratio at the end of the period, % | 40.02 | 31.1 | 40.02 | 31.1 |
Gearing at the end of the period, % | -0.92 | 9.9 | -0.92 | 9.9 |
Working capital at the end of the period, EUR million | -23.5 | -89.4 | -23.5 | -89.4 |
Return on investment, %, LTM | -9.4 | -1.5 | -9.4 | -1.5 |
Return on equity, %, LTM | -15.4 | -4.0 | -15.4 | -4.0 |
Personnel at the end of the period | 4,192 | 4,859 | 4,192 | 4,859 |
Earnings per share, EUR | -0.30 | -0.13 | -0.42 | -0.10 |
1 Excluding restructuring and acquisition-related costs and PPA amortizations.
2 If the hybrid bond were treated as a liability the equity-to-assets ratio would be 27.9%, gearing 41.8%, and net interest-bearing debt EUR 145.5 million.
President & CEO Markku Teräsvasara:
"In 2016, our two business segments were in different phases. The order intake in the Minerals Processing segment started to increase from the second quarter, which together with the achieved cost savings, contributed to the segment's good profitability. The segment ended the year with a solid order backlog, and the market is expected to continue to bring new opportunities. The Metals, Energy & Water segment's order intake remained weak. However, we saw positive signs in the market towards the end of the year. Due to the segment's lower order backlog, we have initiated further cost saving actions. Increased risk provisions especially in one large project significantly weakened the segment's result.
In services, the recurring spare parts and technical maintenance orders grew slightly from 2015, and the growth accelerated towards the end of the year. Large shutdown service and new operation & maintenance contracts declined from the comparison period. The new Services business unit, which will start operations in April, will prioritize and develop our offering, as well as strengthen our customer service. Our strong global installed base brings us attractive service business opportunities.
We expect our profitability to improve due to the pick up in the Minerals Processing segment as well as our cost-saving actions. Securing large orders will, in addition to cost savings action, remain crucial to stabilize the Metals, Energy & Water segment and to achieve sales growth in this segment.
The sentiment in the mining industry has improved. However, the global economical and political environment remains uncertain."
This text is a summary of Outotec's January-December 2016 Financial Statements review. The full report is available as an attachment to this report.
FURTHER INFORMATION
Outotec Oyj
Markku Teräsvasara, CEO
Tel. +358 20 529 211
Jari Ålgars, CFO
Tel. +358 20 529 2007
Rita Uotila, Vice President - Investor Relations
Tel. +358 20 529 2003, mobile +358 400 954 141
Format for e-mail addresses: firstname.lastname@outotec.com
BRIEFING/TELECONFERENCE
Date: Monday, February 13, 2017
Time: 2:00 PM
Venue: Outotec House, Rauhalanpuisto 9, Espoo, Finland
Joining the teleconference
To register as a participant for the teleconference and Q&A session, please dial in 5 to 10 minutes before the beginning of the event using the confirmation code and numbers below.
Conference ID: 7307109
United Kingdom: +44 (0)330 336 9105
Finland: +358 (0)9 7479 0361
Sweden: +46 (0)8 5033 6574
United States: +1 719 457 2086
The contact information is gathered for registration purposes only and is not used for commercial purposes.
FINANCIAL REPORTING SCHEDULE IN 2017
The Financial Statements for 2016 will be published in week 9 of 2017. The 2017 Annual General Meeting is planned for March 30, 2017.
DISTRIBUTION
Nasdaq Helsinki
Main media
www.outotec.com
Hinweis: ARIVA.DE veröffentlicht in dieser Rubrik Analysen, Kolumnen und Nachrichten aus verschiedenen Quellen. Die ARIVA.DE AG ist nicht verantwortlich für Inhalte, die erkennbar von Dritten in den „News“-Bereich dieser Webseite eingestellt worden sind, und macht sich diese nicht zu Eigen. Diese Inhalte sind insbesondere durch eine entsprechende „von“-Kennzeichnung unterhalb der Artikelüberschrift und/oder durch den Link „Um den vollständigen Artikel zu lesen, klicken Sie bitte hier.“ erkennbar; verantwortlich für diese Inhalte ist allein der genannte Dritte.