FLSmidth announces 4Q22 and 2022 results

FLSmidth announced that its full-year 2022 preliminary and unaudited results are in line with guidance, the cement sector recording DKK1.6bn (US$232.7m) in revenues in the 4Q22 and DKK6.3bn (US$916.2m) in 2022. EBITDA margin totalled 4.3 per cent in the 4Q22 for cement and 3.3 per cent for the 2022.

The 4Q22 and 2022 results included costs related to the thyssenkrupp mining acquisition of DKK125m and DKK252m, respectively. In addition, the 4Q22 and 2022 results include costs related to wind-down of Russian activities of DKK80m and DKK200m, respectively.

Guidance for 2023 concludes that the outlook for the cement industry remains impacted by overcapacity and the potential recession is expected to impact market demand negatively over the coming period. FLSmidth’s cement business is expected to record revenues of DKK6-6.5bn and achieve an EBITDA margin of 4.5 per cent.

Consolidated group 
Consolidated group guidance reflects the sum of the guidance for the three business segments Mining, Cement and Non-Core Activities with group revenues of DKK23-24.5bn and an EBITDA margin of 4-5 per cent. 

Capital Markets Day
FLSmidth also held its Capital Markets Day on 18 January 2023, when it outlined its future strategy for its three business segments. The Mining strategy is CORE’26 focussed on sustainability, service, technology and performance. The cement segment strategy is GREEN’26,  which will involve operating model transition, service business model transition and the green transition to drive the cement sector’s move towards green cement production. CemNet will report further on FLSmidth's GREEN'26 strategy in its Weekly News Summary.