Finland’s Metso has seen order intake drop for the September quarter and first nine months of 2023, but reported a 1% uptick in Q3 sales to €1319 million and 12% growth for the year to date to €4049 million.
Orders dipped 10% to €1191m in Q3 this year and are down 4%, yoy so far in 2023 at €4020m.
“The market activity in the third quarter was in line with our expectations, with a stable demand in minerals and a softening in aggregates,” Metso CEO Pekka Vauramo said.
“Our proposal pipeline in the minerals equipment business is strong, and there is continued investment activity in electrification metals, such as copper, lithium and other battery minerals.
“The quarterly order intake, however, was affected by slower customer decision-making, mainly due to macro and other external uncertainties customers are facing.
“The demand for services has remained healthy, thanks to customer efforts to improve productivity; rebuild and modernisation activity also has picked up.
“The activity in our main aggregates markets was softer, with continued weakness in Europe and an anticipated short-term decline in North America. The softer aggregates market was the main reason for our group orders being 10% lower year-on-year.”