Finland’s Metso has reported an 18% year-on-year lift in first-half sales to €2.9 billion but it has seen a drop-off in orders during the period.
The mineral and aggregates processing equipment manufacturer said orders fell 13% yoy in the June quarter and 3%, to €2.93 billion, for the half. Meanwhile, sales were up 15% to €1.48b in Q2, with “healthy market activity in the mining industry, while the aggregates market was softer”.
Operating profit rose 15.5% yoy in Q2 to €230 million and was at 14.7% of sales at €426m for the first half.
“We performed well in the second quarter with the group’s profitability reaching its highest level to date, driven by a continued improvement in the minerals segment and solid performances in aggregates and metals,” Metso CEO Pekka Vauramo said.
“In addition, we made good progress in several key areas, such as launching new solutions for battery metals processing and investing in our capacity around the world.
“The market activity remained in line with expectations and was healthy in the mining market yet softer in the aggregates market, especially in Europe.
“As a result of a high year-on-year comparison in the minerals equipment business and the softness in aggregates, our orders received came in lower year-on-year.
“In minerals services, orders for spare parts and consumables grew at a healthy rate compared to a year ago, while there were fewer orders for upgrades and modernizations, mostly due to timing.”