Metso Corporation’s financial statements for 2000: PROFITABILITY IMPROVED SIGNIFICANTLY - ORDER INTAKE INCREASED
- Metso Corporation’s net sales totaled EUR 3,891 million (EUR 3,387 million in 1999).
- The Corporation’s operating result was EUR 200 million (EUR -10 million) and income before extraordinary items and income taxes was EUR 180 million (EUR -28 million).
- Metso received new orders worth EUR 4,268 million (EUR 3,528 million). The order backlog at the end of the year was EUR 1,907 million (EUR 1,586 million).
- The Board of Directors proposes to the Annual General Meeting planned to be held on March 28, 2001 that a dividend of EUR 0.60 (EUR 0.40) per share be distributed.
In 2000, Metso’s net sales increased by 15 percent over the previous year and profitability improved significantly. Metso Paper’s net sales increased more than the average and profitability improved as capacity utilization rates rose and internal efficiency measures took effect. Metso Automation’s net sales increased and profitability improved substantially due to the product range and the effect of previous restructuring. Metso Minerals’ net sales also rose as well and the profitability of mobile products supplied to construction and civil engineering contractors, in particular, was good.
Through acquisitions and divestments, Metso strengthened its strategic focus on selected process industries. In June, Metso made an offer to acquire all shares of the Swedish company, Svedala Industri Ab, and is awaiting clearance from the U.S. competition authorities. The offer has been extended to March 9, 2001. Metso’s gross capital expenditure, including acquisitions, totaled EUR 313 million. Acquisitions accounted for EUR 186 million.
The value of received new orders (excluding Timberjack) increased by 34 percent and the order backlog by 26 percent. The number of personnel at the end of 2000 was 22,024.
“The adaptive measures implemented in 2000, together with the increase in deliveries and higher capacity utilization, improved profitability,” says Tor Bergman, President and CEO, Metso Corporation. “We expect the Corporation’s profitability to develop favorably in 2001. Our order backlog at the turn of the year was strong and we expect the good market situation to continue. In addition to this, the synergy benefits and cost savings of the merger will take full effect from 2001.”
ENCL: Metso Corporation’s financial statements for 2000