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Displaying items by tag: FLSmidth
FLSmidth revenue up 23% so far in 2012
13 November 2012Denmark: The Danish cement plant manufacturer FLSmidth & Co. A/S has continued strong growth in both revenue and order intake over the nine month period to 30 September 2012. The company's full year revenue guidance has been maintained, based on expectations of strong revenue generation in the fourth quarter.
In the third quarter of 2012 FLSmidth's order intake increased by 11% to Euro1.07bn from Euro962m in the third quarter of 2011. Revenue increased by 23% year-on-year to Euro847m from Euro688m and earnings before interest, tax, depreciation and amortisation (EBITDA) increased by 6% to Euro95.1m from Euro89.7m. The profit for the period decreased by 6% to Euro50.6m from Euro54.1m in the third quarter of 2011.
Over the nine months to 30 September 2012 FLSmidth's order intake increased by 19% year-on-year to Euro2.90bn from Euro2.44bn and its order backlog increased by 13% to Euro4.18bn. Revenue for the nine months increased by 23% to Euro2.25bn. Nine month EBITDA was up by 16% to Euro204m. Profit for the period decreased by 3% to Euro113m.
FLSmidth has maintained its full year revenue guidance for continuing activities of Euro3.35-3.48bn. Cash flow from investing activities (exclusive of acquisitions and their subsequent capital expenditure needs) is expected to amount to Euro102.9m in 2012 due to investments in service supercentres and expansion of manufacturing in India and China.
FLSmidth acquires Teutrine for undisclosed sum
03 September 2012Denmark: FLSmidth has acquired Teutrine GmbH Industrie-Technik, a German company specialising in mobile solutions for repairs, refurbishments and installation services for the cement and minerals industries. The value of the takeover was not disclosed.
Teutrine mainly carries out maintenance and repair services at sites where it offers mobile solutions within repair (welding), refurbishment (machining, grinding, hard facing and overhauling), replacement (parts replacement, alignment, lifting) and upgrades (equipment replacement, alignment, lifting). The company's key markets are found in Europe and the Middle East.
"The acquisition of Teutrine is a significant addition to our service concept in relation to repair and refurbishment services as well as replacement and upgrade services for all the major equipment on a cement plant," said FLSmidth group CEO Jørgen Huno Rasmussen.
Teutrine was founded in 1973 by Antonius and Annemarie Teutrine. In 2009 the ownership was transferred to Gabriele Teutrine, CEO and successor to the founders. The company has 45 employees. Teutrine will be integrated in FLSmidth as part of the Plant Operation & Equipment Services within the Customer Services division.
FLSmidth Q2 profit dented by write-off
15 August 2012Denmark: Cement equipment provider FLSmidth has reported that its second-quarter net profit for 2012 fell by 24% to Euro30m as increased costs and big write-downs outweighed growth in its revenue. Its profit in the same period in 2011 was Euro38.8m.
FLSmidth saw its revenue improve by 26% year-on-year, to Euro811m from Euro644m. Order intake also grew substantially by 20%, to Euro973m from Euro812m. As a result, earnings before interest, tax, depreciation and amortisation (EBITDA) rose by 32%, to Euro90m from Euro68.2m.
However, amortisation and write-downs of intangible assets jumped to Euro34.4m from Euro5.51m, which had a negative effect on overall profit. This negative item consisted mainly of a one-off Euro25.3m write-down of capitalised research and development costs.
FLSmidth registered strong order intake and earnings before interest, tax and amortisation (EBITA) in all its segments except for Bulk Materials, which has been experiencing difficulties in project execution as a result of underestimated risks in connection with orders received in previous years. For its cement sector two major orders in the USA and the Middle East were received in the second quarter. The period saw a order intake rise by 47%, to Euro256m from Euro173m.
FLSmidth secures Egyptian maintenance order
01 August 2012Egypt: FLSmidth has been awarded a contract by the Egyptian National Cement Company for operation and maintenance of two of their production lines located in Cairo, Egypt. The parties have agreed not to disclose the value of the contract which covers a period of seven years but the order will contribute beneficially to FLSmidth's earnings until 2019.
The contract which is the largest operation and maintenance contract awarded to FLSmidth to date includes supply of spare parts and consumables, development of a full operation and maintenance organisation, knowledge transfer to local employees and implementation of industry best practice.
FLSmidth is currently carrying out an upgrade of the two production lines, which were originally supplied by German KHD and have been in operation since the mid 1980s. When the upgrade is completed in early 2014 each line will rise in capacity to 5200t/day from 3800t/day at present.
"We are now for the first time also taking over the operation and maintenance of a plant, which was built by a competitor and consists of a competitor's equipment, and still FLSmidth is in a better position to meet production and quality targets and optimising the customer's earnings capacity," commented group CEO Jørgen Huno Rasmussen.
Tanzania: Tanga Cement, Tanzania's second-largest cement maker, has reported that its full-year profit in 2011 fell by 31% to US$13.8m due to higher production costs. Its revenue rose by 8% to US$101m in the same period. However, Tanga Cement has also announced plans to invest US$165m into a plant upgrade in order to boost output and exports. FLSmidth has confirmed that it is currently in negotiation to supply the upgrade.
Tanga Cement, which trades as Simba Cement, said it planned to increase exports to member states of the East African Community (EAC) trade bloc, and would build a second kiln, to be commissioned in the first quarter of 2015. Once completed, the second kiln will increase the company's clinker production capacity by 0.6Mt/yr, more than doubling the current capacity. The new kiln will increase the production capacity of clinker from 0.5Mt/yr to 0.6Mt/yr. Simba Cement increased its cement production capacity in 2010 from 0.75Mt/yr to 1.2Mt/yr after commissioning a second cement mill.
FLSmidth receives contract for large US project
18 May 2012Denmark/US: FLSmidth has been awarded a contract worth approximately US$136m by an un-named customer in the US for the modernisation of its cement production facility.
The purpose of the engineering, procurement and construction project is to convert one of the plant's existing wet process kilns to a dry preheater/precalciner kiln. As a result, the customer will be able to better fulfil its key environmental objectives, namely reduction of emissions and achieving lower energy consumption.
The equipment includes an FLSmidth drier crusher, modification of the existing kiln, a new 1-stage preheater with calciner, a kiln bypass system, an FLSmidth Cross-Bar cooler, a coal dosing system by FLSmidth Pfister and an ATOX solid fuel mill with an FLSmidth MAAG Gear reducer.
With the installation of three new FLSmidth fabric filters, the project will significantly improve the plant's ability to reduce the particulate emissions. Similarly, an FLSmidth control system will optimise operational efficiency. The scope of supply also includes a new HOTDISC reactor that will allow the plant to increase its consumption of whole car tyres, thus increasing its use of alternative fuels.
FLSmidth said that the award of this contract demonstrates the company's ability to help US cement producers prepare for the anticipated National Emission Standards for Hazardous Air Pollutants (NESHAP) regulations. "The United States cement industry is facing a number of challenges, ranging from a slowly recovering economy to significant regulatory changes in plant emission standards. We are very pleased to work with one of our much valued customers as it takes a leading role in investing in the future of this industry," said Group CEO Jørgen Huno Rasmussen. The order will contribute beneficially to FLSmidth's earnings until mid 2014.
FLSmidth Q1 profits below forecast
16 May 2012Denmark: FLSmidth, a supplier of engineering services and equipment to the cement and minerals industries, has kept its outlook for 2012 after first quarter profits rose less than forecast. The company said market trends remained favourable and that a rise in order intake confirmed its growth expectations.
FLSmidth said that it still expected full-year 2012 consolidated revenues of US$4bn, up from US$3.78bn in 2011, and an earnings before interest and tax (EBIT) margin of 9-10% against a 2011 margin of 9.9%. It is also aiming for a 2012 earnings before interest, tax and amortisation (EBITA) margin of at least 10%, against a 2011 margin of 10.9%. First-quarter earnings before interest and tax (EBIT) rose to US$57.7m in January to March 2012 from US$52.4m in the first quarter in 2011.
Major Middle Eastern contract for FLS
30 April 2012Denmark: FLSmidth has signed a contract worth approximately Euro85m with a company in the Middle East to supply a complete 6000t/day cement production line. The country and precise location of the plant were not announced.
The contract comprises complete equipment supplies and includes a combined limestone and clay crusher, a gypsum crusher, a circular stacker and reclaimer store, a stacker and side scraper store for additives, an ATOX vertical raw mill, a CF silo, a double-string preheater tower, a ROTAX kiln, an FLSmidth Cross-Bar cooler, an OK mill and equipment for the packing and dispatch of cement. FLSmidth will also supply automation equipment.
"FLSmidth has a long history in the Middle East and is maintaining its leading role in serving the rapidly-expanding cement market," said Group CEO Jørgen Huno Rasmussen. "The growing economy and increasing infrastructure investment in the region continue to offer opportunities. This project confirms that the slowdown from the 'Arab Spring' is lifting."
The company added that the cement plant would feature state-of-the-art equipment including the latest technology to ensure an environmentally-friendly and energy-efficient production process.
Germany: With effect from April 2012 Roger Meier has been appointed sales director of FLSmidth Sample Processing Technology, Wuppertal, Germany (formerly Pfaff AQS). Roger Meier will also be responsible for coordinating the common sales effort for FLSmidth Brno (formerly Autec) and FLSmidth Wuppertal.
FLSmidth Sample Processing Technology designs and manufactures a wide range of products for every stage of the sample processing chain in cement, steel and other minerals sectors. Previously Roger Meier has held a position as Building Materials Segment Manager and Industrial XRD Applications Manager at PANalytical BV, in the Netherlands.
Denmark: Carsten R Lund will be appointed new Group Executive Vice President of FLSmidth and a member of the Group Executive Management in July 2012. He will replace Christian Jepsen, who will be joining Alcoa, one of FLSmidth's global mining customers. Lund will be heading the new global Bulk Materials Division that was formed as part of the new FLSmidth Group structure announced in February 2012.
Lund, age 49, is a Danish citizen, Executive MBA and Mechanical Engineer (BSc.), who has been employed by the FLSmidth Group for 24 years in varying managerial positions. Most recently, Lund has headed the implementation of a major business system program for the entire FLSmidth group as program director. Prior to that, he was CEO of FLSmidth Airtech from 2007-2011 and responsible for growing and developing FLSmidth's Air Pollution Control business to become a major global player.