Q3 2024 Valmet Oyj Earnings Call Transcript
Key Points
- Valmet Corp (VOYJF) achieved a record-high comparable EBITA margin of 12% for the third quarter.
- The company reported a strong order backlog of EUR 3.5 billion, with 50% in stable business segments.
- Valmet Corp (VOYJF) secured a significant order from Arauco, which will be booked in Q4, boosting future sales.
- The services segment reached a record-high order intake of EUR 1.8 billion over the last 12 months.
- Automation orders remained stable, with 2/3 coming from outside the pulp and paper industry, indicating diversification.
- Market activity was slower than expected, impacting overall order intake.
- Process technology orders decreased, falling short of earlier expectations.
- The company issued a negative profit warning due to slower-than-anticipated growth in the service business.
- Valmet Corp (VOYJF) is involved in an arbitration case with Metsa, which could have financial implications.
- The board and paper segment faces challenges due to weak market activity and overcapacity in Europe.
Good afternoon, ladies and gentlemen, and welcome to Valmet's Third Quarter 2024 Results Publication and Webcast.
Valmet's third quarter was characterized by the fact that the comparable EBITA margin was the highest for third quarter ever at 12%, but then the market activity was slower than expected.
My name is Pekka Rouhiainen. I'm the Head of IR here at Valmet. And in this conference call, we have a new representative, Valmet's new President and CEO, Thomas Hinnerskov, who started in the mid-August. Welcome, Thomas.
Thank you.
And then, of course, CFO, Katri Hokkanen. The agenda today will be so that Thomas will first go through the third quarter results and brief, discuss about the development of the segments, discuss about the guidance and short-term market outlook, and Katri will then later present the
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