Edition:
United States

Metso Q3 EBITA adj. at EUR ‍43.0​ mln, below expectations


Friday, 20 Oct 2017 02:00am EDT 

Oct 20 (Reuters) - METSO OYJ :Q3 NET SALES EUR ‍673​ MILLION (REUTERS POLL: EUR 677 MILLION).Q3 EBITA ADJUSTED. EUR ‍43.0​ MILLION (REUTERS POLL: EUR 80.2 MILLION).Q3 NEW ORDERS EUR ‍817​ MILLION (REUTERS POLL: EUR 761 MILLION).‍MARKET CONDITIONS ARE EXPECTED TO REMAIN STABLE FOR MINERALS EQUIPMENT AND SERVICES​.‍MARKET CONDITIONS ARE EXPECTED TO REMAIN STABLE FOR FLOW CONTROL EQUIPMENT AND SERVICES​.‍"OUR PERFORMANCE DURING QUARTER WAS CLEARLY NOT SATISFACTORY" - CEO​.‍"ESPECIALLY DISAPPOINTING WAS THAT WE NEEDED TO BOOK 33 MILLION EUROS FOR COST OVERRUNS, WRITE-DOWNS RELATED TO MINING PROJECTS IN THE BACKLOG" - CEO.ORDER BACKLOG AT THE END OF SEPT. TOTALED EUR 1,491 MILLION (EUR 1,320 MILLION AT THE END OF 2016), OF WHICH AROUND EUR 650 MILLION IS EXPECTED TO BE DELIVERED IN 2017. 

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