The main conclusions of the Interim Report are: Satisfactory developments in earnings for the period and in the Group's financial position- The order intake amounted to DKK 9,231m, which is 64% lower than last year (DKK 25,782m) - The order backlog has decreased by 23% to DKK 23,307m since the turn of the year (end of 2008: DKK 30,460m) - The revenue amounted to DKK 16,599m, which is 6% lower than last year (DKK 17,711m) - Earnings before interest, tax, depreciation and amortisation (EBITDA) decreased by 10% to DKK 1,808m (DKK 2,000m) corresponding to an EBITDA ratio of 10.9% (11.3%) - Earnings before interest and tax (EBIT) decreased by 4% to DKK 1,497m (DKK 1,560m) corresponding to an EBIT ratio of 9.0% (8.8%) - Earnings before tax (EBT) increased by 2% to DKK 1,483m (DKK 1,456m) - Profit for the period increased by 22% to DKK 1,256m (DKK 1,028m) - Cash flow from operating activities amounted to DKK 1,547m (DKK 2,611m) - Net interest-bearing receivables amounted to DKK 370m at the end of the third quarter of 2009 (end of 2008: Interest-bearing net debt DKK 574m) Prospects for 2009 Upward adjustment of expected revenue and resulting profit for 2009- New contracted cement kiln capacity in 2009 is expected to total 40-50m tonnes per year globally exclusive of China (previous projection 25-50m tonnes per year) - FLSmidth & Co. now expects a consolidated revenue in 2009 of DKK 22-23bn (previous projection DKK 20-23bn) and a satisfactory EBIT ratio of 8.5-9% - The effect of purchase price allocations regarding GL&V Process is expected to amount to approximately DKK -100m in 2009 in the form of amortisation of intangible assets - In 2009, the effective tax rate is expected to be around 20%Cash flow from investing activities (exclusive of acquisitions) is expected to be around DKK -300m in 2009 Please address any questions to this announcement to Mr Jørgen Huno Rasmussen, Group CEO, telephone +45 36 18 18 00. A telephone conference regarding the Interim Report will be held today at 15:00 hours (CET). For further details, please visit www.flsmidth.com FLSmidth & Co. A/S
Corporate Communications & Investor Relations
Corporate Communications & Investor Relations