Normet CEO Ed Santamaria says the Finnish manufacturer’s “all-time high order backlog at the end of June provides a solid base for the coming quarters” after it booked a 24.3% year-on-year increase in first-half sales to €259.3 million on robust demand for underground equipment, services and technologies.
“The level of market activity and tender proposals have continued at a high level and we are pleased that Normet is increasingly engaged with our mining customers on technologies, products and solutions for their underground mining projects,” Santamaria said.
He said January–June orders were up by 2.1% yoy to €291.3 million even after “exceptionally and seasonally high equipment orders received during the second quarter of 2025”. Services business continued to grow sequentially. The equipment sales backlog was at €189.6 million at the end of June.
Normet said order intake was up in Europe, Africa and Asia Pacific while it declined mainly in India-Middle East and “somewhat in North America, due to a stronger result in the comparative period”.
“Positive sentiment in the mining sector continued, especially for copper and gold projects. Most recent geopolitical challenges have not materially impacted customers’ decision making and proposal activity has continued at a high level,” the company said.
Normet reported EBITA of €35.5 million for the first half of 2026 compared with €13.7 million for the same period last year, with its EBITA margin of 13.7% comparing with 6.6% last year.
