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Metso Oyj (OUKPF) Q3 2023 Earnings Call Transcript

Metso Oyj (OTCPK:OUKPF) Q3 2023 Earnings Call Transcript October 27, 2023 6:00 AM ET

Company Participants

Juha Rouhiainen – VP, IR

Pekka Vauramo – President & CEO

Eeva Sipila – CFO

Conference Call Participants

Klas Bergelind – Citi

Max Yates – Morgan Stanley

Antti Kansanen – SEB

Christian Hinderaker – Goldman Sachs

Andrew Wilson – JPMorgan

Mikael Doepel – Nordea

Tomi Railo – DNB

Vlad Sergievskiy – Barclays

Elliott Robinson – Bank of America

Tom Skogman – Carnegie

Juha Rouhiainen

Good afternoon and good morning, everyone. This is Juha from Metso’s Investor Relations. And I want to welcome you all to this conference call where we discuss our third quarter 2023 results, which were published earlier this morning. As always, we will start with a short presentation by our President and CEO, Pekka Vauramo and CFO, Eeva Sipila and after that we’ll be taking questions. And since it’s a busy day for all of us, we try and limit this call to 60 minutes and please help us out by only asking two questions max each.

With these words, I’ll be handing over to Pekka to start the presentation. Please go ahead.

Pekka Vauramo

Thanks. Thanks, Juha, and welcome to this call. A few comments about the quarter itself. We saw stable activity in mining and as we communicated soft in the aggregates. The sales development, as such, was flat over the quarter. But the margins were holding reasonably well. And we continued to improve from third quarter last year and the adjusted EBITA margin was 16.1%. We also upgraded the financial target to adjusted EBITA target to 17% or in fact, exceeding 17% over the cycle. Then when we look at the numbers, I mean, both topline orders and sales, we have a minor currency, negative currency impact on time about 4% as you see in the tables attached with the report but nevertheless orders received declined with actual

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