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Indutrade AB, Sweden
COMPANY WATCH
Indutrade AB, Sweden
FLSmidth & Co, Denmark Key Figures (DKK million) Third quarter ended 30.9 2012
2011
7956
7176
Order Intake
Key Figures (SEK million) Third quarter ended 30.9 2012
2011
Net Sales
1988
2005
Revenue
6316
5131
Cost of Goods Sold
1326
1335
Cost of Goods Sold
4698
3784
Gross Profit
662
670
Gross Profit
1618
1347
Operating Profit
192
222
EBITDA
709
669
Net Profit before Income Taxes
171
196
EBIT
528
562
Net Profit
127
145
Net Income
377
403 Nine months ended 30.9 2012
2011
Net Sales
6117
5836
Nine months ended 30.9 2012
2011
Order Intake
21 623
18 187
Cost of Goods Sold
4053
3841
Revenue
16 798
13 627
Gross Profit
2064
1995
Cost of Goods Sold
12 603
10 182
Operating Profit
566
596
Gross Profit
4195
3445
Net Profit before Income Taxes
502
522
EBITDA
1793
1552
Net Profit
376
385
EBIT
1192
1253
841
870
Net Income
COMMENT FLSmidth, the Denmark-based provider of equipment and services for the cement and mineral industries, has seen its revenue for the third quarter of fiscal 2012 increase 23.1% to DKK6316 million, while its net income fell 6.4% to DKK377 million. Sales were up in all four of the company’s reporting segments, with growth particularly strong in Customer Services and NonFerrous as a result of a good order backlog. Order intake was also encouraging for the quarter with the total up 10.9% on the year earlier at DKK7956 million. Deals signed during the quarter included a sevenyear operation and maintenance contract in Egypt, another for the supply of engineering, design and equipment for a copper mine in South America
8
Pump Industry Analyst
and one for a feeding system for an aluminium smelter in Venezuela. During the quarter FLSmidth completed the acquisition of Ludowici Ltd of Brisbane, Australia, a leading provider of coal centrifuges, vibrating screens and complementary wear resistant products and services for the minerals industries. The corresponding ninemonth period followed a similar pattern to that for the third quarter with sales up 23.3% on a year earlier at DKK16 798 million and order intake 18.9% stronger at DKK21 623 million, while net income was down 3.3% at DKK841 million. FLSmidth is forecasting full year revenues of DKK25 billion–26 billion. ■ www.flsmidth.com
COMMENT Swedish industrial manufacturer Indutrade has reported third quarter fiscal 2012 sales of SEK1988 million, down just under 1% on a year ago. Net profit was down 12.4% to SEK127 million. In the company’s Flow Technology segment, home to much of its pump activity, revenues slipped 4.3% on the 2011 figure at SEK491 million. The Engineering & Equipment division, which also includes pumps, saw revenues fall 6.1% to SEK384 million. “The market climate continues to be characterised by great uncertainty, and order intake is varying widely from month to month,” Johnny Alvarsson, Indutrade’s president and CEO, said. “In general we are seeing a slowdown in most
market segments, although there are positive exceptions to the general trend. One such area is the international energy sector, which is continuing at a high level. Another is the group of companies we acquired in Switzerland in early 2011, which are continuing their positive development.” Indutrade continued on the acquisition trail during the quarter, purchasing the Swedish firms Hydnet AB and Euroflon Tekniska Produkter AB. After the end of the quarter, it also acquired the Swiss firm Krämer AG. In all, Indutrade has acquired ten companies with combined annual sales of approximately SEK570 million during the current year. ■ www.indutrade.se
December 2012
Indutrade AB, Sweden
FLSmidth & Co, Denmark Key Figures (DKK million) Third quarter ended 30.9 2012
2011
7956
7176
Order Intake
Key Figures (SEK million) Third quarter ended 30.9 2012
2011
Net Sales
1988
2005
Revenue
6316
5131
Cost of Goods Sold
1326
1335
Cost of Goods Sold
4698
3784
Gross Profit
662
670
Gross Profit
1618
1347
Operating Profit
192
222
EBITDA
709
669
Net Profit before Income Taxes
171
196
EBIT
528
562
Net Profit
127
145
Net Income
377
403 Nine months ended 30.9 2012
2011
Net Sales
6117
5836
Nine months ended 30.9 2012
2011
Order Intake
21 623
18 187
Cost of Goods Sold
4053
3841
Revenue
16 798
13 627
Gross Profit
2064
1995
Cost of Goods Sold
12 603
10 182
Operating Profit
566
596
Gross Profit
4195
3445
Net Profit before Income Taxes
502
522
EBITDA
1793
1552
Net Profit
376
385
EBIT
1192
1253
841
870
Net Income
COMMENT FLSmidth, the Denmark-based provider of equipment and services for the cement and mineral industries, has seen its revenue for the third quarter of fiscal 2012 increase 23.1% to DKK6316 million, while its net income fell 6.4% to DKK377 million. Sales were up in all four of the company’s reporting segments, with growth particularly strong in Customer Services and NonFerrous as a result of a good order backlog. Order intake was also encouraging for the quarter with the total up 10.9% on the year earlier at DKK7956 million. Deals signed during the quarter included a sevenyear operation and maintenance contract in Egypt, another for the supply of engineering, design and equipment for a copper mine in South America
8
Pump Industry Analyst
and one for a feeding system for an aluminium smelter in Venezuela. During the quarter FLSmidth completed the acquisition of Ludowici Ltd of Brisbane, Australia, a leading provider of coal centrifuges, vibrating screens and complementary wear resistant products and services for the minerals industries. The corresponding ninemonth period followed a similar pattern to that for the third quarter with sales up 23.3% on a year earlier at DKK16 798 million and order intake 18.9% stronger at DKK21 623 million, while net income was down 3.3% at DKK841 million. FLSmidth is forecasting full year revenues of DKK25 billion–26 billion. ■ www.flsmidth.com
COMMENT Swedish industrial manufacturer Indutrade has reported third quarter fiscal 2012 sales of SEK1988 million, down just under 1% on a year ago. Net profit was down 12.4% to SEK127 million. In the company’s Flow Technology segment, home to much of its pump activity, revenues slipped 4.3% on the 2011 figure at SEK491 million. The Engineering & Equipment division, which also includes pumps, saw revenues fall 6.1% to SEK384 million. “The market climate continues to be characterised by great uncertainty, and order intake is varying widely from month to month,” Johnny Alvarsson, Indutrade’s president and CEO, said. “In general we are seeing a slowdown in most
market segments, although there are positive exceptions to the general trend. One such area is the international energy sector, which is continuing at a high level. Another is the group of companies we acquired in Switzerland in early 2011, which are continuing their positive development.” Indutrade continued on the acquisition trail during the quarter, purchasing the Swedish firms Hydnet AB and Euroflon Tekniska Produkter AB. After the end of the quarter, it also acquired the Swiss firm Krämer AG. In all, Indutrade has acquired ten companies with combined annual sales of approximately SEK570 million during the current year. ■ www.indutrade.se
December 2012