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Metso expects strong 2020

Finnish mining equipment maker Metso Corporation is predicting more of the same in 2020 in its core mining and construction markets, coming off a year of record revenues and profitability in 2019. The company’s shares (HEL: METSO) closed down 4.5% Friday despite a reassuring market outlook and delivery of a EUR1.47/share dividend on 27% higher earnings per share (EUR1.94) in 2019.
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Metso Corp's Helsinki headquarters

Staff reporter

Metso, which has concluded its acquisition of Canadian mobile aggregates equipment supplier McCloskey and will wrap up its mining merger with Outotec in a few months, reported 15% higher sales, year-on-year, of EUR3.63 billion and a 5% bump in orders to EUR3.69 billion for 2019, with operating profit also up 11.6% at EUR474 million.

The December quarter was solid with sales 7% higher yoy at EUR914 million and orders up 1% at EUR914 million.

Metso said activity in its flow control and minerals markets was expected to "remain at the current level in both the equipment and services business".

"The last year was in many ways historical and transformative for Metso. It also marked a record in our financial performance, as our sales increased in both segments and our profitability was higher than ever in the company's history," CEO Pekka Vauramo said.

Metso shareholders have approved its proposed partial demerger to create Metso Outotec and independent valve company, Neles.

Metso had a market value of EUR5.04 billion Friday.