Displaying items by tag: Denmark

Denmark: FLSmidth has notified investors that Altor Fund Manager has increased its holding of shares in the company to over 5%. The transaction took place on 18 January 2023.

Denmark: Equipment manufacturer FLSmidth has launched new corporate strategies for its cement and mining sectors. The so-called ‘pure play’ plans are intended to further focus on technology, products and services and sustainability. The group says it is also simplifying its operating model to reduce risks, improve efficiencies, ensure stronger execution and improve profitability and quality of earnings. The announcement was made at the same time as the group’s latest investor event.

Mikko Keto, the chief executive officer at FLSmidth, said “We must prioritise our efforts on our core business, reduce risk and execute with excellence. We have already started to fundamentally transform our business to ensure stronger strategy execution and to achieve our long-term ambitions to the benefit of our stakeholders.”

In the cement sector the group’s ‘Green 26’ plan aims to make the company the preferred service supplier for the industry. It added that it has a “clear commitment to drive the green transition in the cement industry.” It has set a target of reaching an 8% earnings before interest, taxation, depreciation and amortisation (EBITDA) margin by 2026. For the mining sector the target is a 13 - 15% margin.

In provisional financial results for 2022, FLSmidth revealed that it had an EBITDA margin of 3.3% for cement and 7.6% for mining. Group revenue rose by 24% year-on-year to Euro2.93bn in 2022 from Euro2.37bn in the 2021. Revenue from the cement and mining sectors grew by 7% to Euro847m and 29% to Euro2.03bn respectively. The group said that the short-term outlook for the cement industry remained impacted by overcapacity and that a potential recession is expected to impact market demand negatively over the coming period. Its mining sector revenue was inflated by the acquisition of ThyssenKrupp Mining in 2022.

Demark: Hasle Refractories has appointed Carsten Riisberg Lund as chair of its board of directors.

Riisberg Lund has worked in the cement industry for 35 years mostly for equipment supplier FLSmidth. His most recent role was as FLSmidth’s Cement Industry President since late 2020. Before this he worked as the President for Region Europe, North Africa and Russia (ENAR). He started his career as a Process and Commissioning Engineer for FLSmidth. Since then he led FLSmidth’s former Material Handling division and spent three years as managing director in India.

Morocco: NovaCim’s new 1.4Mt/yr cement plant at Ouled Ghanem near El Jadida has produced its first cement. Denmark-based FLSmidth supplied equipment for the unit including an OK type vertical roller mill, which it says is the first such installation of the product in the country. FLSmidth said in 2019 that it was going to build the plant for TEKCIM in conjunction with the Société Générale des Travaux du Maroc (SGTM). Full commissioning is scheduled for 2023.

Denmark: Cement plant equipment manufacturer FLSmidth has reported strong fundamentals in its third quarter results for 2022. Its cement order intake increased by 8% year-on-year compared to the third quarter of 2021. Cement sector revenue increased by 7% organically and by 13% when including positive currency exchange effects. This, alongside solid performance from its mining sector, helped the group’s order intake to increase by 11% overall for the quarter.

Group chief executive officer Mikko Keto said, “The positive momentum that we saw in the second quarter has been sustained in the third quarter where we have seen robust growth in both order intake and revenue. The mining business continued to benefit from a healthy backlog and fundamentally positive market conditions, with a 53% growth in service order intake. In addition, the cement business delivered an earnings before interest, tax and amortisation (EBITA) margin of 3%. The short-term outlook has improved based on stable performance despite an emerging recession.”

Italy: Cementir Holding sold 8.2Mt of cement and clinker during the first nine months of 2022, down by 1.7% year-on-year from nine-month 2021 levels. China, Denmark, Egypt and Türkiye all contributed to the decline. Group nine-month revenues were Euro1.26bn, up by 25% year-on-year. Third-quarter 2022 revenues rose most sharply, by 45%, in Türkiye, followed by the US (38%), the Nordic and Baltic region (20%) and Belgium (17%). During the third quarter of the year, operating costs increased by 36% to Euro365m from Euro268m. Raw materials, fuels and transport costs all contributed to the rise.

In the first nine months of 2022, the group recorded earnings before interest, taxation, depreciation and amortisation (EBITDA) of Euro238m, up by 11% from Euro215m during the first nine months of 2021.

Denmark: Nordic Investment Bank (NIB) has granted a 150m loan to FLSmidth to support technological developments for the growth of sustainability in the cement and mining sectors. The supplier said that the loan tracks three core sustainability indicators: FLSmidth's ratio of partners with SBTi-certified science-based targets, FLSmidth’s own Scope 1 and 2 CO₂ emissions and its products' Scope 3 impacts.

Chief financial officer Roland Andersen said “With our MissionZero pledge, we are fully committed to developing technologies and solutions that will enable the mining and cement industries to move towards zero emissions by 2030. As sustainability is an integral part of everything we do, it is only natural for us to also link our financing to our sustainability ambitions. This is a first step in this direction, and we are very pleased with the long-term commitment provided by NIB."

Denmark: Switzerland-based Holcim has made an investment in 3D concrete printer supplier COBOD International. Holcim hopes that the investment will help it to further expand its TectorPrint 3D printing ink range. Holcim and COBOD International's collaboration dates to 2019, since which time the partners have 3D printed windmill tower bases in Denmark, a school in Malawi and a housing development in Kenya.

Holcim's head of global research and development Edelio Bermejo said “At Holcim, we are continuously expanding our range of building solutions to build better with less, working to improve living standards for all in a sustainable way. 3D concrete printing will help us meet these goals."

Denmark: Lime and chalk producer Dankalk has ordered a three-tube dryer type TRT 3150/5,0 from Germany-based Gebr. Pfeiffer. The order replaces a previous dryer also supplied by Gebr. Pfeiffer. Dankalk manufactures lime products for agricultural purposes, products for waste incineration plants and chemical auxiliaries and polymers for industrial wastewater treatment and environmental processes.

Denmark: FLSmidth says it will lead CO₂Valorize, a new consortium intended to develop and deploy carbonation technologies in the cement industry. The group will receive Euro2m from the Marie Skłodowska-Curie Doctoral Networks and is supported by the European Commission’s Horizon Europe initiative. The expected commercial and technical outcomes of the consortium include a full flow sheet of the carbonation process line, the techno-economic analysis of various technology and materials options, and the optimisation of FLSmidth's proprietary reactors. The project is also intended to be a key part of FLSmidth MissionZero programme.

Burcin Temel McKenna, Head of Green Cement Solutions Development at FLSmidth, said “We have been granted a unique opportunity to revolutionise the cement industry at a time of extreme urgency”. He added, “On-site carbon capture and utilisation projects will be a quicker and more economically viable way forward for in cement plants.”

The consortium includes the following partners: Norwegian University of Science and Technology; Karlsruhe Institute of Technology; HZDR Innovation with Helmholtz-Zentrum Dresden-Rossendorf and Technische Universität Dresden; Technical University of Denmark; University of Padova; Siemens Process Systems Engineering; and the Slovakia-based cement producer Cemmac. The partners will support eight fully funded PhD students conducting research into the characterisation and kinetics of carbonated materials and optimisation of the carbonation process. They will also explore the commercial opportunities for mineral carbonation. The focus will be on the carbonation of calcium-, aluminium-, and magnesium-silicates as well as cement derivatives, slag, fly ash, recycled concrete fines and mine tailings.