Q1 2020 Flsmidth & Co A/S Earnings Call Transcript
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Hello, everybody. We welcome you for our quarter 1 2020 report. At first, of course, this quarter is heavily under the impression and impact of the pandemic outbreak. And we all hope that wherever you are, that you are in a safe and healthy environment. .
To the quarter 1, we had a record service order intake, the highest ever and that in such a quarter. A strong capital order intake, an increase in revenue. It was actually the strongest revenue quarter 1 for several years, 5, 6 years. But based on extraordinary costs, a low profitability, a weak cash flow, but the company has a very strong financial position.
When we look into the market, it is very low visibility with daily, weekly changes quite in a significant amount. What we see is, what we can say today, we have a relative stable service demand, parts and wear parts. And we see clearly increased customer hesitation on capital spend.
The guidance and dividend. We informed on the 23rd of March that we suspend the guidance and that we withdraw
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