FLSmidth & Co AS (OTCPK:FLIDF)

$ 52 0 (0%) Market Cap: 3.01 Bil Enterprise Value: 3.21 Bil PE Ratio: 31.65 PB Ratio: 1.94 GF Score: 58/100

Q2 2024 FLSmidth & Co A/S Earnings Call (Danish) Transcript

Aug 15, 2024 / 09:00AM GMT

Release Date Price: $41.95

Transcript

Mikko Keto;S;Group Chief Executive Officer

FLSmidth & Co A

/-

The result confirms that our transformation is progressing ahead of the schedule. You also see that the service business, both in Mining and Cement is growing faster than the market and the service-oriented business model works.

We both delivered high EBITA profitability both in Mining and in Cement segments. Mining posted adjusted EBITA margin above 13%. Cement posted adjusted EBITA margin of more than 9%. So both businesses performed well. And especially proud in both businesses about service growth.

In mining, 7% growth in order intake, whereas market was flat. Products was low due to timing, and I will talk about that in a bit. In Cement, what we celebrate is that for the remaining portfolio, as you remember, we've been selling some businesses the spare part business grew year-on-year more than 10% and a significant achievement in the Cement business.

Sustainability KPIs are progressing well, still concern about safety and improvement of the safety. We've been rightsizing the

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