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:

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.