Metso benefitted from a ramp up in project activity in the mining equipment market during the June quarter, with the company’s services and sales orders, and profit all growing in the three-month period.
Overall orders received increased 14% year-on-year to €853 million, with services orders up 7% at €463 million. The company’s sales rose 15% to €776 million, with services sales (up 10%) making up €442 million of this total.
Operating profit increased 45% to €86 million, compared with just €60 million a year earlier.
Metso noted there was healthy activity in all of the markets it serves in the June quarter and expected the next six-month period to see further growth in demand for equipment from its Minerals division and stable demand for Minerals services.
Interim President and CEO Eeva Sipilä said: “We saw continued healthy market activity across our businesses and were particularly pleased to see the project activity in the mining equipment market increase during the second (June) quarter. The solid growth in both equipment and services is a clear indication of our strong position in our key markets.”
She said the company would continue to focus on operational excellence as well as implementing its other “strategic fundamentals”.
The company’s digital strategy is moving forward with piloting comminution analytics at customer sites in North America, Africa, and Australia taking place.
“We are also taking R&D plans forward across our portfolio to strengthen our offering further. Also, our work on adjacent acquisitions supporting our growth strategy continues,” she said.
“Overall, while we have a lot of areas of further improvement ahead of us, I am encouraged by the results we have achieved during the first six months of the year.”