Flsmidth & Co A/S B Shs (FLIDF) Q2 2025 Earnings Call

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WEBVTT 00:00:00.031 -- 00:00:05.119 I would like to welcome everybody to FLS earnings call for quarter 00:00:05.119 -- 00:00:08.004 two and first half of the year. 00:00:08.004 -- 00:00:13.132 It's 20th of August and I'm in the studio celebrating my birthday 00:00:13.132 -- 00:00:18.256 with Roland and we are going through the numbers. 00:00:18.256 -- 00:00:23.923 There has been a lot of changes in how we are reporting. 00:00:23.923 -- 00:00:29.771 And the reason for that is that Cement is now a discontinued business. 00:00:29.771 -- 00:00:34.958 So what we decided to do, we are actually opening up as requested 00:00:34.958 -- 00:00:39.964 by you and the market to give a little bit more visibility for the performance of 00:00:39.964 -- 00:00:41.987 different businesses. 00:00:41.987 -- 00:00:47.399 And the split is service, business line, 00:00:47.399 -- 00:00:49.399 and 00:00:49.602 -- 00:00:55.732 pumps, cyclones, and valves. Pumps, cyclones, and valves include both 00:00:55.732 -- 00:00:59.998 capital business and unserviced business. 00:00:59.998 -- 00:01:04.542 A typical steady state is 25-75. It's very 00:01:06.628 -- 00:01:10.333 simple if you think about our business model. 00:01:10.333 -- 00:01:12.376 We sell products 00:01:12.376 -- 00:01:15.530 to sell spare parts and wear parts. 00:01:15.530 -- 00:01:20.836 We focus on excellent lifetime service to our customers, 00:01:20.836 -- 00:01:25.740 and we want to be a technology leader in our products. 00:01:26.323 -- 00:01:32.028 And if you look at the picture of the pump cycles and valves, you see the picture 25-75. 00:01:32.511 -- 00:01:38.157 But you can also plot the same combination looking at products 00:01:38.157 -- 00:01:40.318 and service. 00:01:40.400 -- 00:01:46.035 It means that we sell everything. ...