Annual report 2023

Highlights of our year
Year 2023 presented many opportunities for Metso and for our customers. The transformation of our industries towards more sustainable practices took many strides, and we are proud to be at the forefront in driving the change with many of our innovations and a wide portfolio of Planet Positive solutions.

"I am extremely pleased to see that our strategy is yielding excellent results. This is a good opportunity to thank our shareholders, customers and all business partners for their continued trust in Metso. I’m also confident that we will provide excellent service to our customers and create value for all our stakeholders in 2024." Pekka Vauramo, President and CEO

Our year in numbers













 Earnings per share,  continuing operations, EUR

0.65 EUR


Our people

Metso's strategy image

Strong progress with our strategic priorities

We follow the implementation of our strategy through four top priorities – financial performance, sustainability, performance culture and customer success.

Our performance was strong throughout 2023. Our sales reached EUR 5,4 billion and our profitability was at a record high level. The continued strong development of our adjusted EBITA margin is truly remarkable. We have improved the margin from 11.5% in 2020 to 16.5% in 2023 and this improvement trend demonstrates our unwavering dedication to improving our profitability.

We have over 17,000 employees globally and it is very important that they feel engaged and committed. We believe that high employee engagement leads to improved customer satisfaction which in turn leads to better business results. We strive to create a strong performance culture where our people, guided by our values and leadership principles, thrive in their work and are offered opportunities to grow and develop while performing at their best. Metso has a diverse workforce of over 100 nationalities, and we are committed to becoming a workplace where diversity and inclusion are fostered, promoted, and embedded in our company culture. Diversity and inclusion have been among our cultural focus areas in 2023. We have increased awareness of the topic and arranged training for all employees and for managers relating to non-discriminating recruitment practices.

For us, customer success means designing our business so that we can excel in solving our customers’ challenges and offer them opportunities to create more value. We have also made steady progress in this area. Metso’s 2023 Net Promoter Score (NPS), which measures the engagement and loyalty of our customers, is on a healthy level. Based on our customers’ feedback, they value Metso’s strong safety culture, high quality equipment and the technical expertise of our employees. We continue to focus on improving our responsiveness and on-time delivery capabilities.

Read below about sustainability as our strategic priority.

Strong progress with our  strategic priorities
Aiming for sustainability leadership

Aiming for sustainability leadership

Our purpose is to enable sustainable modern life. Environmental issues are an integral part of our sustainability agenda because climate change is a big challenge for our customer industries. Our customers are demanding more efficient and sustainable solutions to reach their ambitious climate targets and to meet the fast-growing demand for strategic raw materials. As a major equipment supplier, we can create the biggest positive change by working together with our customers for more sustainable processes. 

Central to our sustainability efforts is our Planet Positive offering – products that are significantly more energy or water efficient than an industry benchmark or a previous generation product. Planet Positive products help our customers cut their CO emissions, both directly and through reductions in carbon intensity of manufacturing and delivering products, as well as by offering the potential for increased recycling. Planet Positive Services can improve our customers’ processes with modernizations and upgrades as well as by optimizing existing production processes. Our Planet Positive portfolio already includes over 100 products, and our aim is to keep expanding and improving this offering by continuously innovating. We target 80% of our R&D spend on Planet Positive development by 2030. 

We have a zero-harm approach to health and safety. With our comprehensive safety agenda and continuous actions, we aim to improve the safety of our employees, partners, customers, contractors and other stakeholders. The safety of our products is one of the key drivers in our research and development work. Our safety promise doesn’t end with the product. We have a range of solutions to eliminate safety risks at customer operations and improve customers’ operational performance over the full life-time of our products. 

We have set a target to reach net-zero CO emissions in our own operations by 2030. We are also targeting a 20% cut in our logistics emissions by 2025 and that 30% of the direct supplier spend by the end of 2025 is with partners who have set Science-Based CO emissions targets. 

Sustainability at Metso
To fight climate change, we must act now. We are partnering with our customers, suppliers and communities for the drive towards net zero and decarbonization of our industries.


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