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FLSmidth & Co. is a project and service focused engineering business with a unique global market position and strong potential for growth.

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FLSmidth Company Announcements

FLSmidth & Co. A/S Annual Report 2004

Message to the Copenhagen Stock Exchange, No. 09 - 2005, 2 March 2005.

The Board of Directors of FLSmidth & Co. A/S has today reviewed the 2004 Annual Report.
To read the Annual Report visit:
The main conclusions are as follows:
The Group
-The turnover and earnings from operations for 2004 are better than the latest announcement of projections. The consolidated turnover reached DKK 14,721m in 2004 (2003: DKK 14,911m). The consolidated earnings before interest and tax (EBIT) were DKK 28m in 2004 (2003: DKK -2,990m).
-The consolidated earnings before tax (EBT) were DKK 435m (2003: DKK -2,550m), on a par with the latest announcement of projections.
-The sale of FLS Aerospace, Aalborg Portland and Unicon plus the write-downs, etc. made in Dansk Eternit Holding had a notable impact on the consolidated profit and loss account and balance sheet.
-The consolidated net interest-bearing balances amounted to DKK 1,191m at the end of 2004 as against DKK -2,445m (net interest-bearing debt) at the end of 2003.
Continuing activities
-The Group will in future be segmented according to its business areas: Cement, Minerals and Other, the latter consisting of Dansk Eternit Holding, Densit and the parent company.
-The turnover of the continuing activities amounted to DKK 10,729m in 2004 (2003: DKK 9,034m).
-The earnings before interest and tax (EBIT) of the continuing activities amounted to DKK -281m in 2004 (2003: DKK -147m), and earnings before tax (EBT) amounted to DKK -294m (2003: DKK -120m).
Important events
-The sale of FLS Aerospace was finally closed on 28 June 2004.
-The sale of Aalborg Portland and Unicon was finally closed on 29 October 2004.
-FLS miljø handed over the West Burton desulphurisation plant in December 2004.
Prospects for 2005
-The prospects are based on the accounts being presented in accordance with IFRS. 
-In 2005, FLSmidth & Co. expects a consolidated turnover of approximately DKK 10bn, earnings before interest and tax (EBIT) at DKK 150-200m and earnings before tax (EBT) of DKK 180-230m
Prospects for 2007
-The objective of the Group is to achieve earnings before tax (EBT) at 5% of the turnover in 2007.
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FLSmidth & Co. A/S
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