Positive third quarter for Metso Outotec
By Steve Ducker04 November 2021
Metso Outotec president and CEO Pekka Vauramo says the integration of the companies is following their 2020 merger processing “ahead of plan” after the announcement of its third quarter financial results.
Orders received for the quarter more than doubled to €1.649 billion (US$1.9 billion) year-on-year, with a 7% increase in sales and profit up to 107 million ($123 million) from €51 million ($59 million) in 2020.
For the nine months to the end of September, sales totalled €2.958 billion ($3.4 billion), €38 million ($44 million) up on last year, while the operating profit of €295 million ($340 million) was up by €86 million ($99 million).
“Market activity continued to be strong across our businesses during the third quarter, resulting in a record high order intake,” said Pekka Vauramo.
“Our quarterly result was good, and all our segments were able to improve their profitability.
“The Metso Outotec integration continued to proceed ahead of plan. As of the end of September, we had achieved a run rate of €116 million in cost synergies, and we are confident that the target of €120 million will be delivered by year-end,