Flsmidth & Co A/S B Shs (FLIDF) Q3 2025 Earnings Call

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WEBVTT 00:00:00.065 -- 00:00:05.731 Good morning from Copenhagen and welcome to the FLS Q3 00:00:05.731 -- 00:00:08.072 earnings call. 00:00:11.538 -- 00:00:17.084 I'm extremely upbeat about the FLS result and where we are at the moment. 00:00:17.084 -- 00:00:21.269 And if we reflect where we are coming from, 00:00:21.269 -- 00:00:27.594 we are fairly close to completing the major transformation of the company. 00:00:27.858 -- 00:00:33.507 And I'm especially happy about service and PCV performance, 00:00:33.507 -- 00:00:36.472 which are now at a good level, 80% of the business. 00:00:36.472 -- 00:00:37.894 80% 00:00:37.894 -- 00:00:43.363 of the business is high margin, low risk, recurring 00:00:43.363 -- 00:00:46.746 with a fantastic growth potential. 00:00:47.770 -- 00:00:53.044 Also another major milestone has been closing of the 00:00:53.044 -- 00:00:55.229 cement cell. 00:00:55.229 -- 00:00:59.736 So that is a major milestone for the FLS. 00:01:00.603 -- 00:01:02.806 For the quarter, 00:01:02.806 -- 00:01:06.630 We are extremely proud about the service development. 00:01:06.630 -- 00:01:11.013 Service orders increased organically 10% 00:01:11.195 -- 00:01:16.221 and the positive market momentum will continue. 00:01:16.221 -- 00:01:22.647 We are also looking that this positive development would continue in 00:01:22.647 -- 00:01:27.873 Q4 and then also that we will highlight our growth ambitions 00:01:27.873 -- 00:01:32.676 in service in our capital market day in Q1. 00:01:33.907 -- 00:01:36.690 When we look at the product business, 00:01:36.690 -- 00:01:42.237 we've done lots of portfolio pruning over the last 2-3 years. 00:01:42.237 -- 00:01:46.623 We stopped taking material handling orders, we closed down the business, we don't do 00:01:46.623 -- 00:01:51.649 a...