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FLSmidth Company Announcements

Interim Report for FLSmidth & Co. A/S 1 January - 31 March 2007

30.05.2007
Message to the Copenhagen Stock Exchange No. 13-2007, 30 May 2007

The Board of Directors of FLSmidth & Co. A/S has today reviewed and approved the Interim Report for 1 January to 31 March. The Interim Report is presented in accordance with International Financial Reporting Standards, which are approved by EU and additional Danish information requirements regarding interim reporting of listed companies.
The Interim Report is unaudited.
The Interim Report is accessible at FLSmidth's website:


The main conclusions of the Interim Report are:
 
Developments in the first quarter of 2007
  •          The order intake amounted to DKK 4,192m in the first quarter of 2007 (first quarter of 2006: DKK 4,534m).
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  •          The order backlog amounted to DKK 18,854m by the end of the first quarter 2007 (end of 2006: DKK 18,264m)
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  •          The turnover rose 63% to DKK 3,764m in the first quarter of 2007, up from DKK 2,307m in the same period of the year before.
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  •          Earnings before interest and tax (EBIT) rose 186% to DKK 309m in the first quarter of 2007, up from DKK 108m in the same period of the year before.
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  •          Earnings before tax (EBT) rose 177% to DKK 319m in the first quarter of 2007, up from DKK 115m in the same period of the year before.
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  •          Cash flow from operating activities (continuing activities) amounted to DKK 223 m in the first quarter of 2007 as against DKK 299m in the same period of the year before.
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    Prospects for 2007
    The expectations for the cement market in 2007 are upgraded to around 100m tonnes per year new contracted cement kiln capacity worldwide (exclusive of China) from the previous expectation of 80-90m tonnes per year.
     
    FLSmidth & Co. upgrades its expectations for the year's turnover and earnings as follows:
     
  •          Consolidated turnover DKK 17-19bn (previous expectation 16-18.5bn)
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  •          Earnings before interest and tax (EBIT) DKK 1.2-1.35bn (previous expectation 1.1-1.3bn)
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  •          Earnings before tax (EBT) DKK 1.3-1.45bn (previous expectation 1.2-1.4bn). The acquisition of GL&V Process is not included in the above figures.
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    FLSmidth's interactive electronic interim report
    Via the website both figures and tables can be downloaded in Excel spreadsheet and via the seach engine it is possible to make a global search in the accounts for both figures and text.   
     
     
    A telephone conference regarding the Interim Report will be held today at 15:00 hours. For further details, please visit www.flsmidth.com
     
    FLSmidth & Co. A/S
    Corporate Public Relations