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Q2 2022 FLSmidth & Co A/S Earnings Call Transcript
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Welcome to the presentation of FLSmidth quarter 2 first half results. My name is Mikko Keto, I'm the CEO of the FLSmidth, and I'm joined by Roland Andersen, who is the CFO. We're actually today very proud presenters of the result because we can show steady good progress in all our key initiatives and financial performance. Just reminding you of the disclaimers for future-looking statements, what we will do during the presentations.
The key takeaway from second quarter is that underlying Mining EBITA margin is 10.5%. Full year last year was 9.9%. And typically, latter part of the year is good. Reported margin is 7.8%, and we have adjusted underlying EBITA with two main items: one being TK integration planning costs, DKK 45 million. Second one is cost related to winding down operations in Russia, which is DKK 50 million. And my opinion is that we've been successful winding down Russia for the cost, which, of course, is unwanted cost, but still limited and not excessive.
Second good news is that Cement continues its
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