Metso Corporation · OMXHEX:METSO
Metso — FY2022 Earnings Presentation
22 slides from Metso's earnings presentation, Feb 17, 2023
Slide 1: Q4 and full-year 2022 results
Q4 and full-year 2022 results President and CEO Pekka Vauramo and CFO Eeva Sipilä February 17, 2023
Slide 2: Forward looking statements
Forward looking statements It should be noted that certain statements herein which are not historical facts, including, without limitation, those regarding expectations for general economic development and the market situation, expectations for customer industry profitability and investment willingn
Slide 3: Agenda
Agenda 01 Results in brief 02 Financials 03 Strategy, sustainability and outlook 04 Q&A February 17, 2023 Source:
Slide 4: Results in brief
01 Results in brief Pekka Vauramo President and CEO
Slide 5: Q4/22 highlights
Q4/22 highlights Strong market activity and orders High sales growth Strong adjusted Good progress EBITA margin of in sustainability 14.8% Operating cash flow improved as inventory levels stabilized February 17, 2023
Slide 6: Group Q4/22 key figures
Group Q4/22 key figures Orders, sales and adj.EBITA EUR million % EUR million Q4/2022 Q4/2021 Change % Orders received 1,590 1,310 21 Sales 1,434 1,278 12 Adjusted EBITA 212 164 30 % of sales 14.8 12.8 – Operating profit 185 130 42 % of sales 12.9 10.2 – Earnings per share, continuing 0.16 0.11 45 o
Slide 7: Group full-year key figures
Group full-year key figures Dividend proposal of EUR 0.30 EUR million 2022 2021 Change % EUR Orders received 6,024 5,421 11 Sales 5,295 4,236 25 * Adjusted EBITA 731 547 34 % of sales 13.8 12.9 – Operating profit 504 425 19 % of sales 9.5 10.0 – EPS, continuing operations, EUR 0.40 0.35 14 Cash flow
Slide 8: Aggregates segment quarterly highlights
Aggregates segment quarterly highlights EUR million % • Orders received EUR 364 million (EUR 331 million) ◦ Supported by strong North America, pricing and Tesab acquisition ◦ Equipment +18%, services -5% • Sales EUR 387 million (EUR 324 million) ◦ Strong execution of the backlog ◦ Services share 30%
Slide 9: Minerals segment quarterly highlights
Minerals segment quarterly highlights EUR million % • Orders EUR 1,030 million (EUR 849 million) ◦ Strong market activity ◦ Equipment orders +46%, incl. two larger orders ◦ Services orders +5% • Sales EUR 921 million (EUR 847 million) ◦ Equipment -7% due to the Russia wind-down ◦ Services +21% ◦ Ser
Slide 10: Metals segment quarterly highlights
Metals segment quarterly highlights EUR million % • Orders received EUR 196 million (EUR 129 million) ◦ Healthy customer activity • Sales EUR 125 million (EUR 106 million) ◦ Increased deliveries from backlog ◦ Services share 18% (10%) • Adjusted EBITA EUR 15 million (EUR 21 million) ◦ Adjusted EBITA
Slide 11: Financials in details
02 Financials in details Eeva Sipilä CFO
Slide 12: Income Statement
Income Statement EUR million Q4/2022 Q4/2021 Q1-Q4/2022 Q1-Q4/2021 EUR Sales 1,434 1,278 5,295 4,236 Adj. EBITA 212 164 731 547 Adj. EBITA, % 14.8 12.8 13.8 12.9 Operating profit* 185 130 504 425 Operating profit*, % 12.9 10.2 9.5 10.0 Net financial expenses -16 -14 -63 -39 Profit before taxes 169 1
Slide 13: Balance Sheet
Balance Sheet EUR million Dec 31, 2022 Dec 31, 2021 EUR million Intangible assets 1,972 2,002 Total property, plant and equipment 407 373 Right-of-use assets 115 127 Other non-current assets 262 234 Inventories 1,846 1,269 Receivables (trade and other) 1,551 1,285 Liquid funds 601 473 Assets held fo
Slide 14: Working capital affected by inventory increase
Working capital affected by inventory increase EUR million EUR million February 17, 2023
Slide 15: Cash flow improved in Q4/22
Cash flow improved in Q4/22 EUR million Q4/2022 Q4/2021 Q1-Q4/2022 Q1-Q4/2021 EUR million Profit for the period 106 120 301 342 Adjustments: Depreciation and amortization 40 42 156 167 Financial expenses, net 16 14 63 39 Income taxes 40 22 113 92 Other items 45 -1 65 -2 Total adjustments 142 77 398
Slide 16: Financial position
Financial position • New EUR 300 million bond issued EUR million Dec 31, 2022 Dec 31, 2021 • Purchase of EUR 103 million of the outstanding bonds maturing in 2024 Liquid funds 601 473 • EUR 50 million research, development, and Net debt 684 470 innovation (RDI) loan signed with European Investment B
Slide 17: Strategy, sustainability and outlook
03 Strategy, sustainability and outlook Pekka Vauramo President and CEO
Slide 18: Planet Positive highlights
Planet Positive highlights • Sales EUR 1.3 billion with +51% growth • Close to 30 launches and portfolio refreshes ◦ Digital strongly present • Several partnerships for developing decarbonized steel production • CircoredTM pilot plant investment for hydrogen-based direct reduction of fine iron ore S
Slide 19: Sustainability highlights in 2022
Sustainability highlights in 2022 • Several green transition projects completed • 20% of spend with suppliers having Science Based Targets • 99.7% of R&D project spend with sustainability targets • Continued progress on people and culture ◦ Multiple actions to drive diversity and inclusion
Slide 20: Market Outlook
Market Outlook Metso Outotec has changed its outlook and expects the overall market activity to remain at the current level in both the mining and aggregates markets. In its previously published outlook Metso Outotec expected the overall market activity to remain at the current level, with the minin
Slide 21: Q&A
Q&A Metso:Outotec
Slide 22: Partner for positive change
Partner for positive change mogroup.com