Metso capped off a strong 2018 with a December quarter that saw a more than 50% year-on-year increase in operating profit.
The mining and mineral processing-focused company said market activity continued to be healthy during the quarter, backed up by a 38% rise in orders received (in constant currencies), to €904 million ($1.03 billion). Adjusted earnings before interest, taxes and amortisation (EBITA) came in at €98 million, or 10.4% of sales, while operating profit was €93 million, compared with €60 million a year earlier.
During the quarter, Metso completed two acquisitions – one in its valves business in India and another in the UK related to pyro processing solutions in mining.
The company said demand for mining equipment remained high during the December quarter, with orders growing 35% in the Minerals segment and 19% in the Flow Control segment.