FLSmidth 1Q revenue dips, 2011 contracted cement capacity forecasts Denmark

FLSmidth 1Q revenue dips, 2011 contracted cement capacity forecasts Denmark
Published: 12 May 2011

Danish engineering group FLSmidth has reported a two per cent decrease in first-quarter revenue to DKK4385m as the company’s order intake decreased four per cent to DKK4964m but increased 42% in Minerals alone. The order backlog has increased by one per cent to DKK 24,033m since the turn of the year.

Revenue in Cement declined 20% on the same period the year before, whilst increasing 20% in Minerals and 16% in Cembrit.

EBITDA was down 8% to DKK427m corresponding to an EBITDA ratio of 9.7%. Profit was down 26% to DKK173m.

In terms of the 2011 outlook, the expectations for the cement market are 65Mta new contracted cement kiln capacity worldwide (exclusive of China).

In 2011, FLSmidth & Co. expects a consolidated revenue of DKK 21-22bn and an EBIT ratio of approximately 9-10%.