IR Information

Shareholders, analysts and other interested parties following FLSmidth can find relevant information about the organization in this section.

FLSmidth IR information


Here you will find answers to frequently asked Investor Relations questions

Investor Relations FAQ

General questions

Q: When was FLSmidth & Co. founded?
A: FLSmidth was founded in Denmark in 1882. Please click on the following link to read more about the history for FLSmidth & Co. Go to History of FLSmidth >>

Q: How do I get in contact with the Management of FLSmidth & Co.?
A: Please contact Investor Relations or Group Communications who will help you to get in contact with Management.

Q: How many employees does FLSmidth & Co. have?
A: FLSmidth & Co. had 11,439 employees at the end of September 2017.

Q: What are the main activities of FLSmidth & Co.?
A: FLSmidth is a market-leading supplier of equipment and services to the global minerals and cement industries. FLSmidth supplies everything from single machine units to complete minerals and cement flowsheets including associated services. 

Q: What is the vision of FLSmidth & Co.?
A: It is the vision of FLSmidth & Co. to be our customer's preferred full-service provider of services and sustainable minerals and cement technologies.

Q: Where can I find FLSmidth & Co.'s articles of association?
A: The articles of association are available on the company website. Go to articles of association>>

Q: Who sits on the Board of FLSmidth & Co.?
A: Vagn Ove Sørensen (Chairman), Tom Knutzen (Vice Chairman), Marius Jacques Kloppers, Caroline Grégoire Sainte Marie, Richard Robinson Smith (Rob Smith), Anne Louise Eberhard, Mette Dobel, Søren Quistgaard Larsen and Claus Østergaard.
Go to board of directors >>

Q: Who is in Group Management in FLSmidth & Co.?
A: Thomas Schulz (Group CEO), Lars Vestergaard (Group Executive Vice President & CFO), Manfred Schaffer (Group Executive Vice President), Brian M. Day (Group Executive Vice President), Per Mejnert Kristensen (Group Executive Vice President) and Virve Elisabeth Meesak (Group Executive Vice President) Go to management >>

Q: Does FLSmidth & Co. have incentive programmes for management and staff?
A: Yes. FLSmidth's long term incentive plans consist of share option plans (being phased out) and performance shares (replacing share option programme). A number of executive officers and other key employees have been granted options and/or performance shares. 
Please click to read more about incentive programmes >>

Q: Who should I contact regarding shareholder and investor relations related questions?
A: Please feel free to contact Senior Vice President, Investor Relations, Pernille Friis Andersen, e-mail: or Investor Relations Officer, Nicolai Mauritzen, e-mail:

Q: Who should I contact for general non-shareholder questions?
A: Please contact Sofie Karen Lindberg, Group Communications, e-mail:

FLSmidth & Co. shares

Q: How do I register my shares in FLSmidth & Co.?
A: Registration of shares is handled by one's own bank. Registered shareholders must register for the Annual General Meeting via FLSmidth's website.

Q: How do I receive an invitation and admission card to the Annual General Meeting?
A: Registered shareholders must register for the Annual General Meeting via FLSmidth's website. Admission cards to the Annual General Meeting can be obtained by contacting

Q: Who should I contact for questions in relation to the Annual General Meeting?
A: For any questions in relation to the Annual General Meeting, please contact Executive Assistant, Pernille Alnor, e-mail: or Investor Relations, e-mail:

Q: When and where will the Annual General Meeting take place?
A: To be announced.

Q: When will the FLSmidth & Co. shares trade ex-dividend and when will dividend be paid?
A: To be decided an announced.

Q: Where is FLSmidth & Co. shares listed?
A: FLSmidth & Co. shares are listed on NASDAQ OMX Nordic Exchange Copenhagen.

Q: What share classes does FLSmidth & Co. have?
A: FLSmidth & Co. has only one share class. Each share carries 20 votes.

Q: How many outstanding shares does FLSmidth & Co. have?
A: FLSmidth has 51,250,000 outstanding shares. To read more about the shares click here >>

Q: How many shareholders does FLSmidth & Co. have?
A: FLSmidth had approximately 39,000 registered shareholders at the end of 2016. In addition, some 1,500 present and former employees hold shares in the company. 

Q: Who are FLSmidth & Co.'s largest shareholders?
A: Lundbeckfond Invest A/S has reported a shareholding exceeding 10%. Novo Holdings A/S on behalf of Novo Nordisk Fonden has reported a shareholding of 9.95%.

Q: How large is FLSmidth & Co.'s holding of treasury shares?
A: FLSmidth & Co.'s holding of treasury shares represents approximately 3.7% of the share capital.
Q: What is the dividend policy of FLSmidth & Co.?
A: It is FLSmidth's dividend policy to pay out 30-50% of the year's profit in dividend depending on the capital structure and investment opportunities.


Q: What accounting rules does FLSmidth & Co. follow?
A: As from 1st January 2005, FLSmidth & Co is reporting its accounts in accordance with International Financial Reporting Standards (IFRS).

Q: What is FLSmidth & Co.'s financial year?
A: The financial year of FLSmidth & Co. follows the calendar year.

Q: When does FLSmidth & Co. publish its financial results?
A: FLSmidt & Co. publishes its financial results on a quarterly basis. You can find the financial calendar here.

Q: How can I obtain information on FLSmidth & Co.'s latest results?
A: You can find information on FLSmidth & Co.'s results by going to the download centre, where you can access the latest financial reports. Please visit our download centre on the Investor Room's front page.

Q: What are FLSmidth & Co.'s long-term financial targets?
A:  At FLSmidth, we take a conservative approach to capital structure, with an emphasis on low debt, gearing and risk. We protect our financial strength and freedom to determine the right mix of investments, M&A and dividends, and we continuously optimise our capital structure in a spirit of adaptability and urgency.
Long-term financial goals for FLSmidth subject to normalised market conditions:

Annual Growth in revenue      Above the market average
EBITA margin 10-13%
ROCE >20%
Equity ratio  >30%
Financial gearing NIBD/EBITDA  <2
Pay-out ratio 30-50% of the profit of the year    

Divisional long-term financial targets:


(over the cycle)

(over the cycle)

Net working capital
(as pct. of revenue)
 Customer Services 5-10% >15% 15-20%
 Product Companies 5-10%  12-15% ~15%
 Minerals 5-6%  3-8% Negative
 Cement 3-5%  3-8% Negative

Q: What is FLSmidth & Co.'s outlook for 2017?
A: The guidance for 2017 is as follows:


Realised Q1-Q3 2017   

Revenue 13.1bn 17-19bn
EBITA margin    8.0%  7-9%
ROCE 10.0%  8-10%

Q: What were FLSmidth & Co.'s results in 2016?
A: They were as follows:

Revenue DKK 18,192m
EBITA DKK 1,289m
Profit/loss for the year DKK 522m
CFFO DKK 1,447m
Free cash flow DKK 1,253m
Number of employees 12,187 

Please click here for link to the Annual Report 2016

(over the cycle)

(over the cycle)

Net working capital
(as pct. of revenue)
 Customer Services 5-10% >15% 15-20%
 Product Companies 5-10%  12-15% ~15%
 Minerals 5-6%  3-8% Negative
 Cement 3-5%  3-8% Negative