Valmet Corp (LTS:0QIW)
€ 23.085 -1.3 (-5.33%) Market Cap: 4.25 Bil Enterprise Value: 5.30 Bil PE Ratio: 15.82 PB Ratio: 1.82 GF Score: 78/100
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Q2 2024 Valmet Oyj Earnings Call Transcript

Jul 24, 2024 / 12:00PM GMT
Release Date Price: €26.58 (-2.05%)

Key Points

Positve
  • Orders received remained at the previous year's level, amounting to close to EUR1.3 billion.
  • Order intake in services grew by 15% compared to the previous year, reaching EUR497 million.
  • Automation segment saw a 4% growth in quarterly order intake, amounting to EUR352 million.
  • Stable business now represents 69% of the order intake, indicating a strong and consistent revenue stream.
  • Positive change in market outlook for pulp and paper, with increased activity and satisfactory levels.
Negative
  • Comparable EBITA decreased to EUR141 million, with a margin of 10.6%.
  • Net sales were 7% lower than the comparison quarter, impacting overall revenue.
  • Adjusted earnings per share for the quarter were EUR0.43, 28% lower than the previous year.
  • Order intake for the full year was EUR2.3 billion, 17% lower than the previous year.
  • Process technologies segment saw a decline in profitability, with EBITA dropping from EUR59 million to EUR36 million.
Pekka Rouhiainen
Valmet Oyj - Vice President - Investor Relations

Good afternoon, ladies and gentlemen, and welcome to Valmet's second-quarter 2024 result publication and webcast. My name is Pekka Rouhiainen and I'm the Head of Investor Relations here at Valmet and with me today are Valmet's President and CEO, Pasi Laine; and CFO, Katri Hokkanen. After the presentations, as usual, you will have the chance to ask questions over the phone lines. But without further ado, Pasi, please go ahead.

Pasi Laine
Valmet Oyj - Chairman of the Executive Team, President, Chief Executive Officer

Thank you, Pekka. Welcome. So our headline is that orders received remained at previous year's level and amounted close to EUR1.3 billion and comparable EBITA decreased to EUR141 million in second quarter.

So the content is like normal. So first, quarter two in brief, then some words about development of segments and business lines, then one slide about our strategic path forward, then Katri will come to talk more about financial development. And then, I'll join again here,

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