Metso Outotec expects market activity to be flat through the rest of the year, provided the COVID-19 doesn’t hamper the global economy any further.

 

In the first nine months of the year, the metal miner and recycler’s orders fell by 15pc to €2,926mn ($3.4bn) from €3,428mn during the same period in 2019. In Q3 2019, Metso Outotec’s orders received declined by 28pc to €836mn from €1,169mn in Q3 2019. 

 

The Finnish firm’s sales in the January to September period also dropped by 2pc to €3,011mn from €3,054mn during the same nine-month period last year. In the third quarter of 2020, sales declined by 8pc to €985mn from €1,073mn during the same quarter in 2019. 

 

Metso Outotec’s operating profit decreased by 37pc to €206mn through the first nine months of the year from €327mn in the first nine months of 2019, and its operating profit in Q3 2020 fell by 63pc to €47mn from €126mn a year earlier. 

 

Its adjusted EBITDA decreased by 9pc to €344mn in the January-September period of this year from €378mn during the same period last year. Metso Outotec’s adjusted EBITDA in the third quarter of the year fell by 29pc to €109mn from €153mn in Q3 2019. 

 

€1 = $1.18

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