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Q4 2020 Flsmidth & Co A/S Earnings Call Transcript
Ladies and gentlemen, welcome to the FLSmidth Annual Report 2020. Today, I'm pleased to present CEO, Thomas Schulz; and Group CFO, Roland M. Andersen. (Operator Instructions) As a reminder, this call is being recorded. Speakers, please begin.
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Hello, everybody. I welcome you here to our FLSmidth Annual Report 2020. And I would like to start directly with the key highlights. First to the quarter 4. Quarter 4 was in order intake, revenue and EBITDA, an improvement to the quarter 3 2020. We had a significant reduction over the whole year actually in net working capital, and with that in the net debt, too. If we compare 2020 with 2019, revenue and EBITA was definitely impacted by the pandemic situation. But the order intake were more or less in line with 2019. The whole year 2020 delivered a very strong cash flow.
If we now look into the markets, we see short-term recovery in Mining coming. That is related and correlated with the pandemic situation. If we look into Cement,
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