Research, Charts & Company Announcements
Research Tree offers METSO OYJ research coverage from 1 professional analysts, and we have 6 reports on our platform.
Our simple but effective charting function allows for a quick scan of METSO OYJ's performance over multiple time horizons.
|24/10/2016 09:00:00||GlobeNewswire||Boliden selects Metso to supply equipment for a new surface crushing station to Aitik copper mine in Sweden|
|21/10/2016 07:00:00||GlobeNewswire||Metso's Interim Review January 1 - September 30, 2016|
|17/10/2016 11:00:00||GlobeNewswire||Metso is supplying key minerals processing equipment to Tibet Julong Copper for one of the largest greenfield copper projects in the world|
|06/10/2016 09:00:00||GlobeNewswire||Metso to publish its Interim Review for January-September 2016 on Friday, October 21, 2016|
|27/09/2016 07:00:00||GlobeNewswire||Metso's financial information in 2017|
|26/09/2016 09:00:00||GlobeNewswire||Metso introduces integrated approach for in-the-pit operations|
|22/09/2016 11:00:00||GlobeNewswire||Welcome to uptime: Metso to present its latest innovations for the mining industry at MINExpo, Las Vegas|
Frequency of research reports
Research reports on METSO OYJ
Providers covering METSO OYJ
A summer report without relief
26 Oct 16
Metso reported Q3 16 figures; the main facts are: Orders received reached €628m, a -3% decrease yoy led by weak Flow Control demand (-21% yoy). The Q3 revenue was €638m, -6% versus Q3 15 including -5% for Minerals revenue and -10% for Flow Control’s revenues. Services accounted for €413m. Profitability was on track with expectations, as the EBITA margin reached 12.1% (versus 13.6% in Q3 15. The free cash flow was €106m (versus €117m in Q3 15). The market environment is unchanged and remains challenging. The company expects 2016 trading conditions to be weaker than in 2015. Some 2016 deliveries are to be postponed to 2017 due to current market conditions.
A light at the end of the tunnel
21 Jul 16
Metso reported its Q2 figures. Main facts: > Mining equipment orders increased by 6% yoy > Q2 orders received totalled €761m (€823m), of which €444m (€495m) were services orders. > Q2 net sales totalled €671m vs est. €681m (Q2 15 €756m), of which services accounted for €439m (€483m) > Q2 adjusted EBITA totalled €77m, or 11.5% of net sales (versus €94m, 12.4%) > Q2 operating profit reached €70m > Q2 free cash flow totalled €74m (€78m)
Strong execution not enough to offset falling demand
22 Apr 16
Q116 results, main facts: Metso reported orders at a low level in Q116: €663m (of which €433m for services) corresponding to a -10% yoy decline (-6% ex.fx) led by services (-15% y/y but -9% ex. fx). Revenue declined by 18% y/y (-14% ex.fx) and reached €601m led by the fall in Equipment revenue EBITA at €56m decreased by 28% y/y, corresponding to a 9.3% margin (versus 10.6% in Q115) leading to EPS of €0.18 (versus €0.25 in Q115) FCF reached €62m (vs €87m in Q115). Metso’s overall trading conditions in 2016 will be somewhat weaker compared to 2015. The company expects restructuring costs to be at the same level as in 2015 (previously: lower than 2015) and capex and net financial costs are expected to be lower than in 2015 (previously: at the same level).
Top line pressure set to continue in 2016
04 Feb 16
Q415 orders reached €758m (versus €721m excluding PAS) corresponding to a +5% increase, of which €440m (vs. €446m excluding PAS) were services orders (-1% yoy). Net sales were €754m (vs. €921 million ex. PAS), of which €481m in services (€525m ex. PAS). For the whole fiscal year, net sales decreased by 13% from €3,363m to €2,923m. These results are even worse if we erase all FX tailwinds the company benefited from during FY15. Without currency impact, net sales decreased by c.16% yoy. In Q415, EBITA before non-recurring items was €91m while margin was 12.0% (vs. €120m and 13% in Q414). On a yearly basis, orders decreased by 52% during Q4 in China (-22% for FY15). South and Central America orders decreased by 11% in Q4 and 7% in FY15 while orders in Asia-Pacific increased by 82% in Q4 and 14% in 2015. North America and Europe orders also increased: +5% for Q4 in North America (+3% FY15) and +12% in Europe (+0%). Finally, Africa and Middle East have seen their orders decrease by 33% during Q4 (25% for FY15). EPS was EUR2.95 in 2015 (€1.25 ex. PAS selling) versus €1.25 last year. The Board proposed a dividend of €1.05, in line with last year’s dividend. This represents a payout ratio of 84% (36% taking SAP cash inflow into account). The firm reaffirmed it will maintain its dividend policy, keeping a payout ratio above 50% of total EPS. The company decided for the first time not to give any numerical figures for FY16 guidance.
Profitability remains strong despite weak demand
23 Oct 15
Metso reported a mixed set of Q315 figures, as weak commodity prices continued to weigh on demand but the company managed to achive a strong level of profitability thanks to cost cutting measures and a favorable sales mix. Q315 order intake reached €647m (-11% yoy ex. PAS),of which €436m in services orders (67%) as low commodity prices continued to have a negative impact on the demand for capital equipment in the mining and oil & gas industries. Sales came in at €680m, a -16% yoy decrease, but profitability remainsed very strong with the EBITA at €92m, corresponding to a 13.6% margin (vs 12.4% in Q314). This good performance reflects the cost-cutting measures taken across the group, the high proportion of the services business in the sales mix leading the gross margin improvement while SG&A costs are continuously declining. As a result, EPS increased to €0.29 from €0.26, while free cash flow surged to €117m from €46m in Q314. The company confirmed its guidance of sales between €3.0 to 3.2 bn and an EBITA margin of between 12% and 13%.
Guidance revised slightly down amidst difficult markets
23 Jul 15
FY15 guidance is updated to the lower end of the range. Orders were down 13% yoy to €823m but like-for like (ex. PAS) was only -1% thanks to some large mining Equipment orders, sales decreased sharply by -21% yoy to €756m primarily due to lower mining Equipment sales. Demand for customers’ capex projects remained soft during the quarter but demand for services was stable. Metso reported that equipment pricing was under pressure despite the order increase to around €140m in Q2 which should not be extrapolated, while services prices were holding up better. The softening in the oil & gas market had fortunately only slight impacts on the valve business due to the company's sound positioning in the mid and downstream markets. The EBITA margin was satisfactory at 12.4% (13.7% ex. PAS). But this is too little to maintain the initial guidance. Sales are now estimated between €3,000m and €3,200m (versus between €3,000m and €3,300m) with an EBITA margin at around 12.5% of sales (12-13%) versus previous expectations of around 13% (12.5-13.5%).
Research on related companies
View the latest research on other companies in the sector, published by expert analysts across the city, at some of the best quality Banks, Brokers, and Independent Providers in the market.
Fighting the waves
25 Oct 16
Management action in response to a tough trading climate and falling profits should contribute to a sound recovery in profits next year. Following share price weakness, the group is valued at a substantial discount to both the broking market leader Clarkson and to other peers. Meanwhile, if the dividend can be held, the shares offer a well above-average yield, pending an eventual improvement in trading conditions.
21 Oct 16
STM* (STM): Acquisition of London & Colonial (CORP) | Hurricane Energy (HUR): £70m placing and open offer (BUY) | Firestone Diamonds* (FDI): Liqhobong commissioning update (BUY) | Accsys (AXS): Acorn aiming to be a mighty oak – analyst interview (BUY) | Avacta* (AVCT): Act now… – analyst interview (CORP) | Tristel* (TSTL): Full year 2016 results – analyst interview (CORP)
FY17 expectations unchanged. Interim dividend maintained
25 Oct 16
Interims reflect tough markets which impacted Technical. Shipbroking delivered a resilient result and Logistics has performed well. The interim dividend has been held at 9.0p. The group anticipate an improvement in H2. The Board’s expectations for the year are unchanged based upon the strength of the order book due in H2, its ongoing market coverage and the benefits of action taken previously. We have retained our FY2017 PBT forecast of £8.7m and a maintained dividend. We reiterate our Buy and adjust our TP to 450p.
Doing things differently
25 Oct 16
Growing pains have impacted on its operational performance (EBIT margins 5.8% FY15 vs 12.2% FY13) and the HSS Hire valuation is at distressed levels (price to book 0.4x vs 1.3x at the time of the float). As the top-line catches up with the expanded cost base and the roll-out of the NDEC leads to greater efficiencies, margins and returns will rebound. Historical experience has shown that price to book ratios typically match these improvements (see Ashtead FY08-FY15, price to book expanded +196%). Therefore, we see scope for material upside in the share price as the expected operational recovery to progress. Our 12 month target of 115p equates to a 0.8x price to net operating assets
Risks discounted leaving significant upside
18 Oct 16
FY 2016 sales grew strongly at +22% but EPS growth lagged at +3% (our revised forecast -1%) as staff attrition and significant investment in new services held back profitability. Conversion of profit into cash improved significantly, at 240% in H2, as shorter payment terms and a lower level of extensions also benefited. We make no major changes to our forecasts and reiterate our view that Utilitywise is at the forefront of a changing energy market, supported by investment in innovative technology. The current valuation is entirely focused on the short-term challenges and ignores the growth potential supported by the new services.