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Announcements

Here you can read company announcements and press releases from FLSmidth.

FLSmidth Company Announcements

FLS sells shareholding in Sinai Cement Company

19.09.2005
Message to the Copenhagen Stock Exchange, No. 24-2005

FLS has signed an agreement with Vicat, the French building materials group, to sell the FLS Group's 7.5% stake in Egyptian-based Sinai Cement Company for an amount of approximately 100m DKK. The agreement is subject to approval by the Egyptian authorities.
The sale of the shares will have a some DKK 100m positive impact on liquidity. In the half year results the shares were revalued by DKK 27m to estimated market value, but this revaluation was not included in the full year estimate. After the sale has been effected, the year's expected earnings before tax (EBT) have therefore been upgraded by approximately DKK 30m.
 
Accordingly, the Group's expected earnings before tax for 2005 are raised from the previous guidance of DKK 320-380m to DKK 350-410m.
 
Please address any questions regarding this announcement to Group Executive Vice President Bjarne Moltke Hansen, FLSmidth & Co. A/S at +45 36 18 18 00.
 
 
FLSmidth & Co. A/S
Corporate Public Relations