Flsmidth & Co A/S B Shs (FLIDF) Q4 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning everyone and welcome to the annual report release call. Today here with me is presenting Roland Andersen, our Chief Financial Officer and I'm the new CEO for FLSMIT, Toni Laaksonen. Briefly about my background. I have a 20-year industrial background from different companies and most of that from the mining industry and before joining the group I was a CEO of a stock listed company in Finland. Before the CEO position, I was with the service business line in FLS and spent like eight months over here leading the service team and now taking over the CEO position. I'm very excited to start working with the entire group across the world. Then a few strategic highlights from last year. 2025 was the big milestone in the FLS history. One big transformation in the company was the divestment of the cement business. We became a pure-plane mining supplier for technologies and services, which is a huge milestone for the whole company. Then on the other hand at the same time we were strengthening our offering commercially both with our service business line and products cyclones and valves. With both businesses we saw a solid organic growth throughout the year which was then strengthened in Q3 and Q4. Then on the other hand, with the products business, we saw an uptick during the Q4, but otherwise the market was pretty soft during the year and subdued. We saw certain engineering activities, but it was not a steady market as such, which we had with services and PCB. Therefore we continue to de-risk the product business and now we are more focused on the product side and we are not anymore as a project supplier as such. Then on the other hand from the financial point of view we had a very solid EBITDA margin. We continue to improve that compared to last years. We hit alm...