Photo courtesy of Metso Corp.
Finland-based mining, metals production and aggregates processing equipment maker Metso Corp. has reported a 10 percent decrease in sales revenue in 2024 compared with the year before.
The company says the value of its orders received declined by just two percent in 2024 compared with 2023, and its adjusted earnings before interest, taxes and amortization (EBITA) declined 9 percent year on year.
“Despite a generally weaker market last year due to macroeconomic uncertainties and slower decision-making by customers, we continued to improve our backlog during the fourth quarter,” says Metso President and CEO Sami Takaluoma.
Takaluoma, who was promoted to president and CEO in October of last year, says during the last three months of 2024, Metso’s orders received grew by 13 percent, which he credits to “the strong order intake for the Minerals equipment business.”
Adds the CEO, “It is noteworthy that customers are confident in Metso's strong offering to meet their needs, and they trust us when investing in the production of copper, gold and other metals to address the growing demand.”
Regarding its Aggregates segment, which includes crushing and screening equipment for concrete recycling applications, Takaluoma says it “held up well.”
In the fourth quarter, says the executive, “Orders were at the level of the comparison period, positively influenced by the acquisitions we made in the fall. The Aggregates market activity remained at the level of the previous quarter, and we have not yet seen the anticipated positive impact of spring season.”
In September 2024, Metso announced its acquisitions of aggregates processing machinery maker Screen Machine and wood processing equipment maker Diamond Z from the Ohio-based Crane Group.
Takaluoma refers to Metso as having an “ability to maintain profitability despite declining sales.” Adds the CEO, “This is particularly evident in the Aggregates segment's adjusted EBITA margin of 16.0 percent.”
Continues Takaluoma, “Overall, we performed well throughout 2024, despite some headwinds in the markets. We continued both organic investments and acquisitions, all of which will support our growth in the coming years.”
Regarding the year now underway, Metso says it expects market activity in both its Minerals and Aggregates segments will remain at the current level.
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