The relative order intake growth even picked up speed during second quarter for Finnish mining industry solutions provider Outotec (OMXH: OTE1V). Sales almost doubled from last year to 524.4 million and operating profit at 44.1 million excluding one-off items did that and more. Quarterly earnings per share of 0.62 EUR is strong indeed. Net cash flow also returned onto a growth path and the share is primed to open considerably higher.
President & CEO Pertti Korhonen described market activity as robust. The minerals and metals processing technology supplier hikes sales guidance range from 1.7-1.9 to 1.8-2.0 billion Euros for the year. Operating profit margin guidance is still at 9-10% of sales excluding one-off items and PPA amortizations. Despite some macroeconomic challenges, business outlook remains solid although should the situation get worse, some customers may delay orders.
No comments:
Post a Comment