FLSmidth lowers 2024 mining sales guidance


Staff reporter

Denmark’s FLSmidth has dropped its 2024 full-year mining revenue guidance on the back of ongoing “customer-driven” delays affecting orders.

“We expect the mining service market to remain stable, whereas the products market remains soft due to persistent hesitation by some customers on larger investment decisions,” the equipment manufacturer said.

“Longer term, the mining industry continues to benefit from a positive outlook for minerals crucial to continued global economic development and a successful green energy transition.”

Copenhagen-listed FLSmidth raised EBITA margin guidance for both its mining and cement businesses “as a result of strong strategy execution”.

The company is guiding for 2024 mining revenue of circa-15.5 billion Danish krone (DKK), or about US$2.27 billion, compared with DKK16-17 billion previously. Cement revenue is unchanged at DKK4-4.5 billion.

It reported first-half mining revenue of DKK7.4 billion and orders of DKK7.6 billion.

FLSmidth’s mining EBITA margin forecast is at 12.5-13% for the year, versus 11.5-12.5% earlier, with cement at 8-9% versus 5.5-6.5%.

 

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