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Outotec lowers its financial guidance for 2013 and publishes preliminary Q1-Q3 2013 financial information

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OUTOTEC OYJ  STOCK EXCHANGE RELEASE   OCTOBER 17, 2013  at 9.35 AM

Outotec lowers its financial guidance for 2013 and publishes preliminary Q1-Q3 2013 financial information

Outotec lowers its financial guidance regarding sales and operating profit margin for 2013. There are several factors contributing to the lower sales guidance. The macroeconomic uncertainty has continued which has slowed down customers' capex investments. Also some projects have progressed slower than expected due to delays in customer payments. In addition, one project (EUR 30 million) in order backlog was cancelled in September. The lower sales volume is the main reason for lowering the operating profit margin guidance for 2013.

New financial guidance:

Outotec expects its sales be approximately EUR 1.9-2.1 billion and operating profit margin from business operations*) be approximately 8.5-9.5% in 2013.
*) Excluding one-time items and purchase price allocations (PPA) amortizations

Previous financial guidance:

Based on the strong order backlog, current market outlook and customer tendering activity, the management expects that in 2013: 

  • Sales will be approximately EUR 2.1-2.3 billion, and
  • Operating profit margin from business operations*) will be approximately 9.5-10.5%

*) Excluding one-time items and purchase price allocations (PPA) amortizations

Preliminary Q1-Q3 2013 financial information

Outotec's preliminary financial information for January- September 2013 (2012)  

  • Order intake: EUR 1,086 (1,613.2) million
  • Sales: EUR 1,454 (1,437.6) million
  • Operating profit from business operations: EUR 122 (119.8) million
  • Operating profit margin from business operations: 8.4 (8.3) %

Outotec's preliminary financial information for July-September 2013 (2012)  

  • Order intake: EUR 229 (452.4) million
  • Sales: EUR 440 (502.8) million
  • Operating profit from business operations: EUR 44 (44.7) million
  • Operating profit margin from business operations: 10 (8.9) %

  
Outotec's interim report January-September 2013 will be published on October 30, 2013.

Outotec's sales funnel continues to be solid with a large number of sales prospects. The company has not lost any large sales prospects. Demand for services continues healthy.

For further information please contact:

OUTOTEC

Pertti Korhonen, CEO
Tel. +358 20 529 211

Mikko Puolakka, CFO
Tel. +358 20 529 2002

Emails: firstname.lastname@outotec.com

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www.outotec.com

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