OUTOTEC OYJ FINANCIAL STATEMENTS REVIEW FEBRUARY 13, 2017 AT 9.00 AM
FINANCIAL STATEMENTS REVIEW JANUARY-DECEMBER 2016
Good development in Minerals Processing business
January-December 2016 in brief (comparison period January-December 2015):
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Order intake: EUR 1,008 (1,190) million, -15% (in comparable currencies -12%)
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Service order intake: EUR 443 (497) million, -11% (in comparable currencies -6%)
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Order backlog: EUR 1,002 (1,103) million, -9%
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Sales: EUR 1,058 (1,201) million, -12% (in comparable currencies -9%)
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Service sales: EUR 447 (511) million, -13% (in comparable currencies -8%)
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EBIT: EUR -68 (-12) million
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Adjusted EBIT*: EUR -23 (56) million
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Adjusted EBIT*: -2 (5)%
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Net cash flow from operating activities: EUR -85 (70) million
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Earnings per share: EUR -0.42 (-0.10)
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Due to the negative net result in 2016, the Board of Directors proposes to the AGM that no dividend is paid for the year 2016
October-December 2016 in brief (comparison period October-December 2015):
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Order intake: EUR 283 (267) million, 6% (in comparable currencies 6%)
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Service order intake: EUR 108 (109) million, -1% (in comparable currencies -3%)
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Sales: EUR 305 (306) million, 0% (in comparable currencies -1%)
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Service sales: EUR 127 (138) million, -8% (in comparable currencies -8%)
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EBIT: EUR -53 (-31) million
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Adjusted EBIT*: EUR -25 (18) million
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Adjusted EBIT*: -8 (6)%
Financial guidance for 2017
Guidance for 2017 is based on the current order backlog and market outlook as well as achieved cost savings.
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Sales are expected to be approximately EUR 1,050-1,150 million, and
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Adjusted EBIT* is expected to be approximately 3-5%
* Excluding restructuring and acquisition-related costs as well as purchase price allocation amortizations.
|
| Q4 | Q4 | Q1-Q4 | Q1-Q4 |
| 2016 | 2015 | 2016 | 2015 | |
| Order intake, EUR million | 282.7 | 267.2 | 1,007.7 | 1,189.9 |
| Service order intake, EUR million | 107.8 | 109.3 | 443.3 | 496.6 |
| Share of services in order intake, % | 38.2 | 40.9 | 44.0 | 41.7 |
| Order backlog at the end of the period, EUR million | 1,002.1 | 1,102.8 | 1,002.1 | 1,102.8 |
| Sales, EUR million | 305.4 | 305.7 | 1,057.9 | 1,201.2 |
| Service sales, EUR million | 127.4 | 138.0 | 447.0 | 511.3 |
| Share of services in sales, % | 41.7 | 45.1 | 42.3 | 42.6 |
| Gross margin, % | 15.6 | 26.4 | 22.1 | 27.9 |
| Adjusted EBIT1, EUR million | -24.8 | 17.6 | -23.0 | 56.0 |
| Adjusted EBIT1, % | -8.1 | 5.8 | -2.2 | 4.7 |
| EBIT, EUR million | -53.5 | -30.6 | -67.7 | -12.3 |
| EBIT, % | -17.5 | -10.0 | -6.4 | -1.0 |
| Result before taxes, EUR million | -56.6 | -32.1 | -78.1 | -22.9 |
| Net cash from operating activities, EUR million | -11.9 | 47.7 | -84.6 | 69.5 |
| Net interest-bearing debt at the end of the period, EUR million | -4.52 | 39.9 | -4.52 | 39.9 |
| Equity at the end of the period, EUR million | 498.1 | 404.7 | 498.1 | 404.7 |
| Equity-to-assets ratio at the end of the period, % | 40.02 | 31.1 | 40.02 | 31.1 |
| Gearing at the end of the period, % | -0.92 | 9.9 | -0.92 | 9.9 |
| Working capital at the end of the period, EUR million | -23.5 | -89.4 | -23.5 | -89.4 |
| Return on investment, %, LTM | -9.4 | -1.5 | -9.4 | -1.5 |
| Return on equity, %, LTM | -15.4 | -4.0 | -15.4 | -4.0 |
| Personnel at the end of the period | 4,192 | 4,859 | 4,192 | 4,859 |
| Earnings per share, EUR | -0.30 | -0.13 | -0.42 | -0.10 |
1 Excluding restructuring and acquisition-related costs and PPA amortizations.
2 If the hybrid bond were treated as a liability the equity-to-assets ratio would be 27.9%, gearing 41.8%, and net interest-bearing debt EUR 145.5 million.