HELSINKI (dpa-AFX) - Metso Oyj (OUKPY, METSO.HE), a provider of mining and aggregates processing equipment, reported Friday significantly higher profit in the second quarter, mainly as sales were benefited by strong demand in both segments. The company also recorded higher orders.
Looking ahead, the company expects market activity in both Minerals and Aggregates segments to remain at current levels over the next six months.
In Helsinki, Metso shares were gaining around 5.32 percent, trading at 16.43 euros.
In the second quarter, profit more than doubled to 128 million euros from last year's 63 million euros. Earnings per share were 0.15 euro, up from 0.08 euro a year ago.
On a continuing operations basis, prior year's net profit was 110 million euros or 0.13 euro per share.
Adjusted EBITA increased 21 percent to 221 million euros from 183 million euros in the prior year period, corresponding to a margin of 16.6 percent versus 14.5 percent last year.
Sales increased 6 percent to 1.334 billion euros from 1.257 billion euros last year. Sales grew 5 percent growth in constant currencies. Growth was driven mainly by the Minerals aftermarket business
Orders received increased 18 percent to 1.462 billion euros from 1.241 billion euros. Minerals orders grew 24 percent, while Aggregates orders were up 1 percent. Organic order growth in constant currencies reached 16 percent, driven by healthy aftermarket demand and robust equipment activity in the Minerals segment.
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