Metso updates its segment reporting and publishes restated information based on the new structure
Metso Corporation’s stock exchange release on October 2, 2023, at 09:00 a.m. EEST
Metso is updating its segment reporting by moving its two businesses currently under divestment (Metals & Chemical Processing and Ferrous & Heat Transfer), both of which have been reported under the Metals segment, into discontinued operations, and transferring the Smelting business to the Minerals segment. As a result, and in line with the Group’s strategy, Metso’s segment reporting will consist of two segments: Aggregates and Minerals. The changes became effective on September 30, 2023. Metso will report its January – September 2023 results according to the new structure, on October 27, 2023.
The changes in the reporting structure are related to Metso’s March 29, 2023, announcement to initiate the divestment of the Metals & Chemical Processing and Ferrous & Heat Transfer businesses and to keep the Smelting business in Metso’s portfolio. The divestment project has progressed to the point where the two businesses can be classified as discontinued operations.
Metso’s restated segment information based on the new reporting structure for the financial year 2022 and for January – June 2023 (in PDF and Excel formats) can be found below and in attachments to this release.
| Metso’s segment information for 2022 and 2023 | ||||||||
| Orders received | Restated | |||||||
| EUR million | 4-6/2023 | 1-3/2023 | 1-12/2022 | 10-12/2022 | 7-9/2022 | 4-6/2022 | 1-3/2022 | |
| Aggregates | 330 | 379 | 1,481 | 364 | 351 | 363 | 402 | |
| Minerals | 1,014 | 1,107 | 4,143 | 1,073 | 967 | 1,196 | 908 | |
| Metals | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| Metso total, continuing operations | 1,344 | 1,485 | 5,623 | 1,437 | 1,318 | 1,558 | 1,310 | |
| Orders received by services business | Restated | |||||||
| EUR million | 4-6/2023 | 1-3/2023 | 1-12/2022 | 10-12/2022 | 7-9/2022 | 4-6/2022 | 1-3/2022 | |
| Aggregates | 109 | 119 | 469 | 107 | 115 | 122 | 125 | |
| % of orders received | 33 | 31 | 32 | 29 | 33 | 34 | 31 | |
| Minerals | 633 | 736 | 2,364 | 549 | 611 | 624 | 580 | |
| % of orders received | 62 | 67 | 57 | 51 | 63 | 52 | 64 | |
| Metals | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| % of orders received | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| Metso total, continuing operations | 742 | 855 | 2,833 | 656 | 726 | 746 | 705 | |
| % of orders received | 55 | 58 | 50 | 46 | 55 | 48 | 54 | |
| Sales | Restated | |||||||
| EUR million | 4-6/2023 | 1-3/2023 | 1-12/2022 | 10-12/2022 | 7-9/2022 | 4-6/2022 | 1-3/2022 | |
| Aggregates | 386 | 363 | 1,446 | 387 | 362 | 368 | 329 | |
| Minerals | 1,010 | 970 | 3,523 | 968 | 942 | 845 | 768 | |
| Metals | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| Metso total, continuing operations | 1,396 | 1,334 | 4,970 | 1,356 | 1,305 | 1,213 | 1,097 | |
| Sales by services business | Restated | |||||||
| EUR million | 4-6/2023 | 1-3/2023 | 1-12/2022 | 10-12/2022 | 7-9/2022 | 4-6/2022 | 1-3/2022 | |
| Aggregates | 109 | 114 | 477 | 115 | 121 | 127 | 114 | |
| % of sales | 28 | 31 | 33 | 30 | 33 | 35 | 34 | |
| Minerals | 624 | 575 | 2,081 | 587 | 574 | 485 | 434 | |
| % of sales | 62 | 59 | 59 | 61 | 61 | 57 | 57 | |
| Metals | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| % of sales | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| Metso total, continuing operations | 734 | 689 | 2,558 | 703 | 695 | 612 | 548 | |
| % of sales | 53 | 52 | 51 | 52 | 53 | 50 | 50 | |
| Adjusted EBITA and operating profit | Restated | |||||||
| EUR million | 4-6/2023 | 1-3/2023 | 1-12/2022 | 10-12/2022 | 7-9/2022 | 4-6/2022 | 1-3/2022 | |
| Aggregates | ||||||||
| Adjusted EBITA | 66 | 66 | 213 | 63 | 57 | 48 | 45 | |
| % of sales | 17.0 | 18.1 | 14.8 | 16.2 | 15.7 | 13.1 | 13.8 | |
| Amortization of intangible assets | -4 | -4 | -16 | -4 | -4 | -4 | -4 | |
| Adjustment items | 0 | 0 | -2 | -5 | 0 | 0 | 2 | |
| Operating profit | 62 | 62 | 195 | 53 | 53 | 45 | 44 | |
| % of sales | 16.0 | 17.0 | 13.5 | 13.7 | 14.8 | 12.1 | 13.5 | |
| Minerals | Restated | |||||||
| EUR million | 4-6/2023 | 1-3/2023 | 1-12/2022 | 10-12/2022 | 7-9/2022 | 4-6/2022 | 1-3/2022 | |
| Adjusted EBITA | 184 | 170 | 538 | 158 | 158 | 107 | 116 | |
| % of sales | 18.2 | 17.5 | 15.3 | 16.3 | 16.8 | 12.6 | 15.1 | |
| Amortization of intangible assets | -12 | -11 | -45 | -11 | -11 | -11 | -11 | |
| Adjustment items | -4 | -3 | -87 | -81 | -4 | 1 | -2 | |
| Operating profit | 168 | 156 | 406 | 66 | 142 | 96 | 102 | |
| % of sales | 16.6 | 16.0 | 11.5 | 6.8 | 15.1 | 11.4 | 13.3 | |
| Metals | Restated | |||||||
| EUR million | 4-6/2023 | 1-3/2023 | 1-12/2022 | 10-12/2022 | 7-9/2022 | 4-6/2022 | 1-3/2022 | |
| Adjusted EBITA | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| % of sales | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| Amortization of intangible assets | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| Adjustment items | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| Operating profit | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| % of sales | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| Group Head Office and other | Restated | |||||||
| EUR million | 4-6/2023 | 1-3/2023 | 1-12/2022 | 10-12/2022 | 7-9/2022 | 4-6/2022 | 1-3/2022 | |
| Adjusted EBITA | -11 | -24 | -37 | -12 | -13 | -6 | -6 | |
| Amortization of intangible assets | 0 | 0 | -2 | -1 | -1 | -1 | -1 | |
| Adjustment items | 4 | 1 | -73 | 76 | 6 | -154 | -1 | |
| Operating profit | -8 | -24 | -112 | 65 | -8 | -160 | -8 | |
| Metso total, continuing operations | Restated | |||||||
| EUR million | 4-6/2023 | 1-3/2023 | 1-12/2022 | 10-12/2022 | 7-9/2022 | 4-6/2022 | 1-3/2022 | |
| Adjusted EBITA | 238 | 211 | 715 | 210 | 202 | 148 | 155 | |
| % of sales | 17.1 | 15.8 | 14.4 | 15.5 | 15.5 | 12.2 | 14.2 | |
| Amortization of intangible assets | -16 | -16 | -63 | -16 | -16 | -16 | -16 | |
| Adjustment items | 0 | -2 | -163 | -10 | 1 | -152 | -1 | |
| Operating profit | 222 | 193 | 490 | 183 | 187 | -19 | 138 | |
| % of sales | 15.9 | 14.5 | 9.9 | 13.5 | 14.4 | -1.6 | 12.6 | |
Further information:
Juha Rouhiainen, Vice President, Investor Relations, Metso Corporation, tel. +358 20 484 3253, email: juha.rouhiainen(a)mogroup.com
Distribution:
Nasdaq Helsinki Ltd
Main media
www.metso.com
Metso is a frontrunner in providing sustainable technologies, end-to-end solutions and services for the aggregates, minerals processing and metals refining industries globally. By helping our customers increase their productivity, improve their energy and water efficiency and environmental performance with our process and product expertise, we are the partner for positive change.
Headquartered in Espoo, Finland, Metso employs over 16,000 people in close to 50 countries and sales for 2022 were about EUR 5.3 billion. The company is listed on the Nasdaq Helsinki. metso.com, x.com/metsoofficial