Denmark: FLSmidth has reported a 23% decline in group revenue for the second quarter of 2024. Despite the decline, gross profit rose by 5% to US$233m from US$221m in the same period in 2023. The cement division experienced a revenue decrease of 32%, though it achieved an adjusted earnings before interest, tax and amortisation (EBITA) margin of 9.6%.
Group CEO Mikko Keto said "Our performance in the first half of 2024 is testament to our continued strong progression across all our key transformation activities, with additional improvements in profitability. The largely stable cement market continues to provide good opportunities for our service business. Looking ahead, the resilience of our service-oriented business model, our continued focus on business simplification to ensure a cost-efficient operating model and our dedicated focus on strategy execution gives us great confidence that we are well on track to meet our long-term financial ambitions."
