General questions
Q: When was FLSmidth & Co. founded?
A: FLSmidth was founded in Denmark in 1882. Please click on the following link to read more about the history for FLSmidth & Co. Go to History of FLSmidth >>
Q: How do I get in contact with the Management of FLSmidth & Co. ?
A: Please contact Investor Relations corpir@flsmidth.com or Corporate Communications corppr@flsmidth.com who will help you to get in contact with Management.
Q: How many employees does FLSmidth & Co. have?
A: FLSmidth & Co. has approximately 10,200 employees.
Q: What are the main activities of FLSmidth & Co.?
A: FLSmidth & Co. A/S is a global engineering organisation based in Copenhagen Denmark. It provides the global cement and mineral industries with plants, machinery, services and know-how.
FLSmidth is the leading supplier of plant projects and, machinery, processes, spare parts and services to the global cement industry.
FLSmidth Minerals is the only supplier in the market that supplies complete solutions covering the entire process from minerals extraction to the final end product.
Q: What is the vision of FLSmidth & Co.?
A: It is the vision of FLSmidth & Co. to continuously strengthen the position as the preferred partner and leading supplier of equipment and services to the global cement and minerals industries.
Q: Where can I find FLSmidth & Co.'s articles of association?
A: The articles of association are available on the company website. Go to articles of association>>
Q: Who sits on the board of FLSmidth & Co.?
A: Jørgen Worning (Chairman), Jens Stephensen (Vice Chairman), Torkil Bentzen, Johannes Poulsen, Jesper Ovesen
Søren Winther, Frank Lund, Jens Palle Andersen and Bo Steffensen.
Go to board of directors >>
Q: Who is in Corporate Management in FLSmidth & Co.?
A: Jørgen Huno Rasmussen (CEO), Poul Erik Tofte (Group Executive Vice President and CFO), Bjarne Moltke Hansen (Group Executive Vice President) and Christian Jepsen (Group Executive Vice President)
Go to management >>
Q: Who should I contact regarding shareholder and investor relations related questions?
A: Please feel free to contact FLSmidth's Investor Relations Manager, Pernille Friis Andersen, e-mail: pefa@flsmidth.com . Q: Who should I contact for general non-shareholder questions?
A: Please feel free to contact FLSmidth's Communication Manager, Jesper B. Larsen, e-mail: jebl@flsmidth.com
FLSmidth & Co shares
Q: How do I register my shares in FLSmidth & Co.?
A: Registration of shares is handled by one's own bank. Registered shareholders automatically receive an invitation to the Annual General Meeting.
Q: How do I receive a printed copy of the Annual Report?
A: A copy of the Annual Report may be obtained at the Company's address or ordered by e-mail: corpir@flsmidth.com , alternatively via the Company's website www.flsmidth.com .
Q: How do I receive an invitation and admission card to the annual general meeting?
A: Registered shareholders automatically receive an invitation to ordinary general meetings. Admission cards to the annual general meeting can be obtained by contacting corpir@flsmidth.com or by calling Hanne Falshøj on +45 3618 1899 or Solvej Gosmer on + 45 3618 1876
Q: When and where will the Annual General Meeting take place?
A: The Annual General Meeting will take place on 17 April 2008 at Radisson SAS, Falconer Center, Falkoner Allé 9, DK-2000 Frederiksberg.
Q: When will the FLSmidth & Co. shares trade ex-dividend and when will dividend be paid?
A: FLSmidth & Co. shares will trade ex-dividend from 18 April 2008 and dividend will be paid on 24 April 2008.
Q: Where is FLSmidth & Co. shares listed?
A: FLSmidth & Co. shares are listed on the Copenhagen Stock Exchange.
Q: What share classes does FLSmidth & Co. have?
A: FLSmidth & Co. has only one share class. Each share carries 1 vote.
Q: How many outstanding shares does FLSmidth & Co. have?
A: FLSmidth has 53,200,000 outstanding shares. To read more about the shares click here >>
Q: How many shareholders does FLSmidth & Co. have?
A: FLSmidth has approximately 23,800 registered shareholders.
Q: Who are FLSmidth & Co.'s largest shareholders?
A: 1 shareholder has reported a participating interest that exceeds 5% of the share capital:
• ATP
FLSmidth & Co.'s holding of own shares represents approximately 1.5% of the share capital.
Q: What is the dividend policy of FLSmidth & Co.?
A: The Board of Directors will propose at the Annual General Meeting that for 2006 a dividend of DKK 7 per share be distributed, corresponding to 32% of the profit for the year.
Financials
Q: What accounting rules does FLSmidth & Co. follow?
A: As from 1st January 2005, FLSmidth & Co is reporting its accounts in accordance with International Financial Reporting Standards (IFRS).
Q: What is FLSmidth & Co.'s financial year?
A: The financial year of FLSmidth & Co. follows the calendar year.
Q: When does FLSmidth & Co. publish its financial results?
A: FLSmidt & Co. publishes its financial results on a quarterly basis. You can find the financial calendar on the Investor Room's front page. Go to Investor Room front page .
Q: How can I obtain information on FLSmidth & Co.'s latest results?
A: You can find information on FLSmidth & Co.'s results by going to the download centre, where you can access the latest financial reports. Please visit our download centre on Investor Room's front page.
Q: What are FLSmidth & Co.'s long-term growth and earnings prospects?
A: 2009 is expected to see a continuation of the favourable business cycle and high level of activity, and the turnover is expected to rise compared to the prospects for 2008 in all three business segments.
The effect of purchase price allocations regarding GL&V Process in 2009 and onwards is expected to be around
DKK -100m per year in the form of amortisation of intangible assets.
In the longer term, earnings from Minerals and Customer Services (spare parts and services) will account for a larger part of the Group’s total earnings, which will cushion the effect of any cyclical market fluctuations in Cement. Against this background, the Group expects its EBIT ratio to be 10-12% in periods of high activity and slightly below that level in periods of low activity.
In the longer term, investments exclusive of acquisitions are expected to total approximately DKK 400m per year.
Q: What is FLSmidth & Co.'s outlook for the near future?
A: - Sustained favourable business cycles and a continued high level of activity are expected for 2008.
For 2008, FLSmidth & Co. maintains its expectation of a consolidated turnover of approx. DKK 26bn, earnings before special non-recurring items, depreciation, amortisation (EBITDA) of DKK 2.9-3.0bn, earnings before interest and tax (EBIT) of DKK 2.4-2.5bn and earnings before tax (EBT) of DKK 2.3-2.4bn.
- The effect of acquisition price allocations regarding GL&V Process in 2008 amounts to some DKK -280m, which is included in the expectations mentioned above.
- FLSmidth & Co. maintains its expectation of an EBIT result before the effect of acquisition price allocations regarding GL&V Process of DKK 2.7-2.8bn in 2008
Cash flow from operating activities (continuing activities) is expected to be around DKK 1.5bn in 2008 (upgraded from previously DKK 1.2bn).
- Cash flow from investing activities (exclusive of acquisitions) is expected to be around DKK 700m. This amount includes the expansion of production capacity in Cembrit at approximately DKK 175m.
The effective tax percentage for 2008 is expected to be in the range of 30%. The tax percentage payable, however, is expected to be slightly lower.
For the individual business areas, the prospects for 2008 are as follows:
Cement
|
Turnover approx. DKK 13.5bn
|
EBIT ratio approx. 9-10%
|
| Minerals |
Turnover approx. DKK 11.0bn (previously approx. DKK 11.5bn)
|
EBIT ratio 12% (exclusive of effect of purchase price allocations at approx. DKK -280m) (previously approx.11-12%)
|
| Cembrit |
Turnover approx. DKK 1.5bn
|
EBIT ratio approx. 9% |
The prospects for 2008 in Cement assume an unchanged market share and a total global market for new cement kiln capacity of approximately 125-150m tonnes per year (previously 100-125 mty) (exclusive of China), which is tantamount to an unchanged, very high level of demand.
Risks in connection with the earnings for 2008 are primarily related to the execution of the considerable backlog of orders. In connection with the execution of orders particularly delays in supplies from vendors may cause FLSmidth & Co. extra costs.
Q: What were FLSmidth & Co.'s results in 2007? A: There were as follows:
| Turnover |
DKKm 19,967 |
| Profit before tax |
DKKm 1,877 |
| CFFO |
DKKm 1,450 |
| CFFI |
DKKm (3,898) |
| Number of employees |
9,377 |