Interim Report Q1/2025

Figures in brackets refer to the corresponding period in 2023, unless otherwise stated.

First quarter 2025 in brief

• Overall market activity remained at the previous quarter's level
• Orders received increased 4% to EUR 1,413 million (EUR 1,361 million); Aggregates +10% and Minerals +2%
• Sales declined 4% to EUR 1,173 million (EUR 1,217 million); Aggregates +1% and Minerals -5%
• Adjusted EBITA was EUR 193 million, or 16.5% of sales (EUR 200 million, or 16.5%)
• Operating profit was EUR 170 million, or 14.5% of sales (EUR 188 million, or 15.4%)
• Cash flow from operations was EUR 196 million (EUR 158 million)

President and CEO Sami Takaluoma:

Our first quarter performance was solid, despite the increasing uncertainty and turbulence towards the end of the period. Our order intake grew from the previous year, and our profitability remained at a good level, although sales were slightly lower than in the comparison period.

The Aggregates segment experienced seasonal improvement in demand at the beginning of the year, especially in North America and Europe. Aggregates orders increased by 10 percent, positively influenced by the acquisitions made in the US last fall. In the Minerals segment, there was good activity in small and mid-sized equipment orders and services, and the segment's total orders increased by three percent when calculated at fixed exchange rates. Customer inquiries and the level of their planned investments remain high, but no large orders were received in the first quarter.

Sales accumulated slowly at the beginning of the year, due to the low order backlog in the Aggregates segment and the timing of deliveries in the Minerals segment's order backlog. As a result, the Group's sales were four percent lower than in the comparison period. We continued to demonstrate strong resilience. Our profitability - adjusted EBITA margin - was at the same 16.5 percent level as per the previous year, despite the decline in sales. This is thanks to good cost management and operational efficiency across the company. It was also noteworthy that cash flow from operations strengthened to EUR 196 million, which is 25 percent higher year-on-year. We have made progress in our planned efforts to normalize our inventory levels, and this work will continue.

In April, we have seen volatility especially regarding tariffs. We believe that our extensive global presence and supply chain will help us navigate these challenges, and their direct impacts are likely to be manageable. A more significant issue is the potential impact of tariffs and counter-tariffs on global economic growth and, consequently, on the demand from our customer industries. So far, the underlying demand has been stable, but we are monitoring the situation and preparing to respond quickly to any changes.

Our internal strategy work is underway, and we will report on results in the second half of the year. We completed the acquisition of Swiss Tower Mills Minerals at the beginning of April, further strengthening our position as a leading provider of crushing and grinding solutions for the mining industry.

Market outlook

Metso expects that the market activity in both Minerals and Aggregates will remain at the current level. Tariff-related turbulence could potentially affect global economic growth and market activity.

In its previously published outlook, Metso expected the market activity in both Minerals and Aggregates to remain at the current level.

According to the company's disclosure policy, Metso’s market outlook describes the expected sequential development of market activity, adjusting for seasonality, during the following six-month period using three categories: improve, remain at the current level, or decline.

Key figures

Audiocast and conference call details

President and CEO Sami Takaluoma will present the results in an audiocast and a conference call for analysts and investors on Thursday 24.4.2025 at 12:00 p.m. EEST. 

The audiocast can be followed at https://metso.events.inderes.com/q1-2025/

A recording and a transcript will be available on this webpage after the event has finished.    

Conference call participants are requested to register on the link below

https://events.inderes.com/metso/q1-2025/dial-in

Further information, please contact:  

Juha Rouhiainen, Vice President, Investor Relations, Metso Corporation, tel. +358 20 484 3253, email: juha.rouhiainen(a)metso.com