* Q4 EBIT 796 mln DKK vs avg forecast 819 mln
* Sees FY 2013 revenues growing to 27-30 bln DKK
* Forecasts 2013 EBITA margin of 8-10 pct
* Shares fall 1.0 pct
(Adds details, quotes, share price)
COPENHAGEN, Feb 12 Danish engineering group
FLSmidth & Co A/S reported a surprise 8 percent fall in
fourth-quarter earnings, hit by a loss at its materials handling
division and a sluggish mining sector.
FLSmidth on Tuesday blamed the 203 million Danish crown
($36.4 million) divisional loss on project delays and cost
overruns at the unit whose activities range from raw ore
crushing to ship loading and unloading facilities.
The group, which sells engineering services and equipment to
the cement and minerals industries, said earnings before
interest and tax (EBIT) fell to 796 million crowns.
That missed analysts' average forecast for a rise to 819
million in a Reuters poll.
"It is another very disappointing quarter for earnings in
Material Handling," said Sydbank analyst Jacob Pedersen.
"They are still carrying some concern into 2013," Pedersen
The loss-making division, which accounted for 19 percent of
group revenue in 2012, made a 115 million crowns profit in the
fourth quarter of the previous year.
Chief Executive Jorgen Huno Rasmussen said the problems had
now been resolved and that the unit would begin to make
FLSmidth said that in the second half of 2012 mining
companies, part of its customer base, had responded to weak
economies by announcing cuts in capital expenditure.
Group revenue rose 16 percent to 8.05 billion in the fourth
quarter, the highest quarterly revenue the group ever recorded,
aided by strong sales in all of its units apart from materials
handling, it said.
Revenue grew by 21 percent in the full year and the company
expects growth of 9 to 21 percent to between 27 billion and 30
billion crowns ($4.84 billion to $5.38 billion) in 2013.
Sales and administrative costs rose 12 percent in the
quarter, related partly to acquisitions.
Shares in FLSmidth traded down 1.0 percent at 0942 GMT,
against a 0.3 percent rise in the Copenhagen stock exchange
($1 = 5.5771 Danish crowns)
(Reporting by Mette Fraende and Teis Jensen; Editing by Erica