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FLSmidth Company Announcements

FLSmidth upgrades expectations for 2006 result

02.02.2007
Message to the Copenhagen Stock Exchange, No. 05 - 2007, 2 February 2007

As a result of a positive development at the end of the year, the FLSmidth Group anticipates the following key figures for 2006:
Consolidated turnover: Approx. DKK 12.3bn (previous expectation DKK 12.5 - 13.5bn)
 
Earnings before interest and tax (EBIT): Approx. DKK 775m (previous expectation DKK 650 - 700m)
 
Earnings before tax (EBT): Approx. DKK 925m (previous expectation DKK 700 - 750m)
 
Consolidated turnover in the cement segment will be lower than previously expected due to deferred supplies to customers and a change in the presentation of the divested part of MAAG Gear. Turnover will increase in the Minerals segment and in Dansk Eternit Holding compared to previous expectations.
 
The increasing EBIT margin is mainly due to improved results in the order processing and increased turnover in the minerals segment - and, as a result, also increased earnings.
 
The additional increase in earnings before tax (EBT) is primarily ascribable to increased financial income and gains on disposal of shareholdings in the cement segment.
 
All business segments - Cement, Minerals and Dansk Eternit Holding - will achieve financial results exceeding previous forecasts.
 
For each individual business segment the expectations for 2006 are now as follows:
 
Cement:    Turnover: Approx. DKK 7.7bn (previous expectation approx. DKK 9.0bn)
EBIT margin: Approx. 5,5% (previous expectation just under 5%)

Minerals:    Turnover:   Approx. DKK 3.3bn (previous expectation approx. DKK 3.0bn)
EBIT margin:  just under 8%  (previous expectation just over 6%)
 
Dansk Eternit Holding: Turnover:   Approx. DKK 1.2bn (previous expectation approx. DKK 1.1bn)
EBIT margin: just under 7%, corresponding to previous announcement adjusted for expenses for employee shares.
 
 
In addition, expectations for the global cement market in 2006 have been upgraded to approx. 140m tonnes per year new contracted cement kiln capacity (exclusive of  China) - against previous expectation of 120m tonnes per year.
 
FLSmidth & Co. A/S expects to publish the 2006 Annual Report on Wednesday 28 February.
 
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Please address any questions regarding this announcement to Group Chief Executive Officer Jørgen Huno Rasmussen at +45 36 18 18 00.
 
 
Yours faithfully
 
Torben Seemann Hansen
Corporate Public Relations