DOCSLIB.ORG

Valmet's Financial Statements Review 2017

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Valmet's Financial Statements Review 2017 Orders received amounted to EUR 3.3 billion and Comparable EBITA to EUR 226 million in 2017 Financial Statements Review 2017 February 6, 2018 Pasi Laine, President and CEO Kari Saarinen, CFO Agenda Financial Statements Review 2017 1 2017 in brief 2 Development of business lines 3 Financial development 4 Dividend proposal, guidance and short-term market outlook 5 Summary of Financial Statements Review 2017 6 Appendix 2 February 6, 2018 © Valmet | Financial Statements Review 2017 2017 in brief 2017 in brief Orders received increased to EUR 1,609 million in stable business1 Orders received remained at the previous year’s level at EUR 1,713 million in capital business2 Net sales increased to EUR 3,159 million Order backlog remained at the previous year’s level at EUR 2.3 billion Comparable EBITA increased to EUR 226 million (margin 7.2%) Gearing was -11% 1) Stable business = Services business line and Automation business line. For Automation, this figure includes internal orders received from other business lines. 2) Capital business = Pulp and Energy business line and Paper business line 4 February 6, 2018 © Valmet | Financial Statements Review 2017 Valmet in 2017 Orders received by Orders received by Orders received business line area EUR 3,272 million 10% 21% 38% Net sales 32% EUR 3,159 million 17% 6% Comparable EBITA EUR 226 million Comparable EBITA 10% margin 21% 46% 7.2% Services North America Employees Automation South America Pulp and Energy EMEA 12,268 Paper China Asia-Pacific 5 February 6, 2018 © Valmet | Financial Statements Review 2017 Valmet’s development Orders received Net sales Comparable EBITA Comp. EBITA margin (EUR million)1 (EUR million)1 (EUR million)1 (%)1 3,272 3,071 3,139 3,159 2,878 2,928 2,926 2,613 2,473 1,713 2,182 1,658 1,684 1,473 2,016 1,537 1,572 1,581 1,484 226 1,147 7.2% 196 6.7% 182 6.2% 4.3% 1,558 106 1,341 1,481 1,357 1,453 1,474 1,035 1,055 1,032 989 54 2.1% 2013 2014 2015 2016 2017 2013 2014 2015 2016 2017 2013 2014 2015 2016 2017 2013 2014 2015 2016 2017 Pulp and Energy, and Paper business lines Pulp and Energy, and Paper business lines Comparable EBITA Comparable EBITA margin Services and Automation business lines Services and Automation business lines 1) 2013 figures on carve-out basis 6 February 6, 2018 © Valmet | Financial Statements Review 2017 Orders received increased to EUR 3,272 million in 2017 Orders received (EUR million) Orders received in 2017 by area 1,400 3,500 Asia-Pacific North 10% America 1,200 3,000 21% 1,000 2,500 China 800 2,000 17% South 600 1,500 America 1,101 6% 1,023 1,005 400 793 803 788 857 796 1,000 781 725 692 743 727 580 200 466 480 500 0 0 EMEA Q2/14 Q3/14 Q4/14 Q1/15 Q2/15 Q3/15 Q4/15 Q1/16 Q2/16 Q3/16 Q4/16 Q1/17 Q2/17 Q3/17 Q4/17 Q1/14 46% Orders received (LHS) Last 4 quarters (RHS) • In stable business, orders received increased to EUR 1.6 billion in 2017 • In capital business, orders received remained at the previous year’s level at EUR 1.7 billion in 2017 • EMEA and North America accounted for 67% of orders received in 2017 7 February 6, 2018 © Valmet | Financial Statements Review 2017 Stable business orders received amounted to EUR 1,609 million in 2017 Orders received (EUR million) in stable business1 600 1,800 500 1,500 443 424 402 394 409 372 383 400 342 344 88 359 1,200 330 88 103 293 95 81 267 273 273 87 75 101 300 242 78 75 80 900 200 600 355 307 313 321 321 267 273 273 293 252 267 264 284 284 282 100 242 300 0 0 Q1/14 Q2/14 Q3/14 Q4/14 Q1/15 Q2/15 Q3/15 Q4/15 Q1/16 Q2/16 Q3/16 Q4/16 Q1/17 Q2/17 Q3/17 Q4/17 Services (LHS) Automation, total (including internal) (LHS) Last 4 quarters (RHS) • Orders received in stable business increased by EUR 90 million in 2017 1) Stable business = Services business line and Automation business line. For Automation, this figure includes internal orders received from other business lines. 8 February 6, 2018 © Valmet | Financial Statements Review 2017 Order backlog was EUR 2,292 million at the end of 2017 Order backlog (EUR million) Structure of order backlog 3,000 2,500 2,613 2,5512,523 2,406 ~25% 2,312 2,283 2,292 2,000 2,208 2,207 2,192 2,064 2,1172,074 2,106 1,972 1,998 1,500 1,000 ~75% 500 0 Stable business Capital business Q1/14 Q2/14 Q3/14 Q4/14 Q1/15 Q2/15 Q3/15 Q4/15 Q1/16 Q2/16 Q3/16 Q4/16 Q1/17 Q2/17 Q3/17 Q4/17 • Order backlog was EUR 231 million lower than at the end of Q3/2017 • Approximately 80% of the order backlog is currently expected to be realized as net sales during 2018 • Approximately 25% of the order backlog relates to stable business 9 February 6, 2018 © Valmet | Financial Statements Review 2017 Development of business lines Services: Orders received increased to EUR 1,242 million in 2017 Orders received (EUR million) Net sales (EUR million) 2016: 2017: 2016: 2017: EUR 1,182 million EUR 1,242 million EUR 1,163 million EUR 1,178 million 400 355 1,600 400 1,600 321 321 340 350 307 313 1,400 350 304 314 304 316 302 1,400 293 284 284 282 278 286 284 300 267273 273 267 264 1,200 300 268 257 1,200 242 252 251235 242 252 250 1,000 250 224 1,000 200 800 200 800 150 600 150 600 100 400 100 400 50 200 50 200 0 0 0 0 Q3/15 Q1/14 Q2/14 Q3/14 Q4/14 Q1/15 Q2/15 Q4/15 Q1/16 Q2/16 Q3/16 Q4/16 Q1/17 Q2/17 Q3/17 Q4/17 Q3/17 Q1/14 Q2/14 Q3/14 Q4/14 Q1/15 Q2/15 Q3/15 Q4/15 Q1/16 Q2/16 Q3/16 Q4/16 Q1/17 Q2/17 Q4/17 Orders received (LHS) Net sales (LHS) Orders received, last 4 quarters (RHS) Net sales, last 4 quarters (RHS) • Orders received remained at the same level as in Q4/2016 - Orders received increased in Asia-Pacific, remained at the previous year’s level in EMEA and decreased in North America, China and South America - Orders received increased in Performance Parts, and Energy and Environmental, remained at the previous year’s level in Mill Improvements and decreased in Rolls, and Fabrics • Net sales increased compared with Q4/2016 11 February 6, 2018 © Valmet | Financial Statements Review 2017 Services business line in 2017 Orders received Orders received Orders received by business by area EUR 1,242 million 11% 12% 18% 25% Net sales 9% 14% EUR 1,178 million Employees 9% 5,472 28% Market position 29% #1–2 Services 45% Rolls North America Mill Improvements South America Performance Parts Fabrics EMEA Energy and Environment China Asia-Pacific 12 February 6, 2018 © Valmet | Financial Statements Review 2017 Automation1: Orders received increased to EUR 368 million in 2017 Orders received2 (EUR million) Net sales2 (EUR million) 2016: 2017: 2016: 2017: EUR 337 million EUR 368 million EUR 316 million EUR 335 million 115 120 103 101 450 120 101 450 95 99 11 100 88 87 88 375 100 375 78 81 80 12 9 79 6 81 5 80 10 75 75 72 72 80 6 9 16 300 80 66 69 68 300 62 8 15 7 11 8 8 8 13 55 6 4 60 225 60 9 12 8 225 95 94 104 85 82 91 91 40 70 72 78 72 150 40 73 73 150 67 66 62 68 66 58 65 59 60 20 75 20 75 0 0 0 0 Q1/16 Q1/15 Q2/15 Q3/15 Q4/15 Q2/16 Q3/16 Q4/16 Q1/17 Q2/17 Q3/17 Q4/17 Q1/15 Q2/15 Q3/15 Q4/15 Q1/16 Q2/16 Q3/16 Q4/16 Q1/17 Q2/17 Q3/17 Q4/17 Orders received, internal (from other business lines) Net sales, internal (from other business lines) Orders received, external Net sales, external Orders received, total (including internal) Net sales, total (including internal) Orders received, last 4 quarters (RHS) Net sales, last 4 quarters (RHS) • Orders received increased compared with Q4/2016 - Orders received increased in China, North America and EMEA and decreased in Asia-Pacific and South America - Orders received increased in both Pulp and Paper, and Energy and Process • Net sales increased compared with Q4/2016 1) Comments refer to orders received and net sales including also internal orders received and net sales. 2) Q1/2015 orders received and the underlying figures for ‘Orders received, last 4 quarters’ and ‘Net sales, last 4 quarters’ are calculated based on Metso’s reported figures and pro forma figures excluding Process Automation Systems and are therefore indicative only. 13 February 6, 2018 © Valmet | Financial Statements Review 2017 Automation business line in 2017 Orders received Orders received Orders received by business by area EUR 368 million 8% 26% 8% 24% Net sales EUR 335 million Employees 3% 1,708 Market position 74% #1–3 Pulp and paper 57% Pulp and Paper North America Energy and Process South America EMEA China Asia-Pacific Orders received EUR 368 million includes internal orders received and net sales EUR 335 million includes internal net sales.
Load more

Recommended publications
  • Valmet Industrial Internet Leveraging Big Data Analytics on Tissue Machines Valmet Industrial Internet a Dialogue with Data
    Valmet Industrial Internet Leveraging Big Data Analytics on Tissue Machines Valmet Industrial Internet A dialogue with data Dialogue with data: • Combining process and business data from different mill or plant systems Company level data • Leveraging advanced analytics and Valmet’s know- how to create new data driven applications & Mill and plant level data services • Providing applications for operator assistance and Process and equipment data new set points for the automation system Results Reduced raw material and Reduced downtime and Improved product quality energy cost unplanned stops 2 Key elements of Valmet Industrial Internet Industrial Internet applications Valmet Performance Center Valmet Customer Portal From analytical applications for reliability and Provides remote support, monitoring and data A digital, personalized collaboration space performance to Advanced Process Controls, analysis and access to Valmet’s expert network between you and Valmet information management and process simulators Intelligent machines and automation Solution ecosystem Brings leading industry players and innovative A solid data source for Industrial Internet solutions start-ups together to co-create new value-adding data driven services 3 Valmet Industrial Internet offering Applications and services for Tissue producers Advanced reporting and Asset reliability optimization Operations performance guidance optimization Process Tissue Real time Cost performance Virtual Mill machine MillTracer quality monitoring & monitoring diagnostics prediction optimization
    [Show full text]
  • Successful Conversion from Paper to Board
    CUSTOMER’S VOICE Successful conversion from paper to board A marvelous journey rowth in traditional retail and e-commerce is increasing global demand for “PM 3 is almost like a new machine sustainably produced packaging materials. now; a combination of brand- In 2015, Stora Enso’s Varkaus mill in Finland converted their existing paper new technology and good, well- Gmachine into a board machine to produce linerboard to better meet the market need for renewable packaging. maintained trusted technology”, says They chose Valmet as their partner for this challenging rebuild. Jukka Lyyra, Area Manager of Paper “Every paper engineer has a dream about building a Machine & RCF Plant, Stora Enso. new machine” says Jukka Lyyra, Area Manager of Paper Machine & RCF Plant, about the conversion project, with TEXT Kaisamaija Marttila and Pauliina Purola a boyish grin. “I’ve been fortunate, as this is my second FORWARD 2/2016 17 StoraEnso Varkaus PM 3 Current grade: AvantKraft Brown (kraft liner) and AvantKraft White Top (white-top liner). Previous grades: first newsprint, and then fine paper Basis weights: 80–225 g/m² Wire Width: 8,400 mm Design Speed: 1,200 m/min Annual Capacity: 395,000 t/a Safety is project in this role. It has been a marvelous journey,” PM 3 had gone through a previous transformation from top priority at he continues. “PM 3 is almost like a new machine now; news to fine paper in 1985. Stora Enso and one of the most a combination of brand-new technology and good, In order to make the latest paper-to-packaging conver- important things well-maintained trusted technology.
    [Show full text]
  • Automation – Taking Customers' Performance Forward
    Automation – taking customers’ performance forward Tampere site visit November 26, 2015 Sakari Ruotsalainen, Business Line President, Automation History of Automation in Tampere 1920’s An aircraft repair 1936 1944 1968 Workshop Division is opened in Tampere Measurement and control instruments Valmet Oy Instrument founded in for the process industry begin to develop Works established in Helsinki to repair Rantaperkiö aircraft instrumentation 1940’s 1953 The first black box ”Mata Hari” invented Precision mechanics division established, and produced in the State aircraft factory introduction of pneumatic measurement and in Tampere control system 2 November 26, 2015 © Valmet | Sakari Ruotsalainen, Business Line President, Automation History of Automation in Tampere 1980’s 2000’s Damatic, the first Distributed Control IQInsight IQProfilers (IQSteam Pro) 2015 1960 System (DCS) The Airmatic, a IQCaliper-L Metso Process Automation PaperIQ Plus Systems to Valmet pneumatic Acquisition of Sentrol Systems (QCS) Multivariable Model Predictive measurement and Controls (MPC) Valmet DNA control system Damatic XD, modular second generation metsoDNA CR DCS 24/7 ProCenter for DCS 24/7 ProCenter for QCS PaperIQ Select IQCaliper-L IQFiber 2015 Valmet IQ 2010’s 1990’s Metso PQV, web inspection system PaperIQ, QualityControl System (QCS) Metso DNA 1970 Metso IQ Elmatic-100 Metso Incorporated (the merger of Valmet Metso IQ for corrugators system, electronic Automation Inc. and Neles Controls) Metso condition analysis services instrumentation Vapo, peat and water
    [Show full text]
  • A CASE STUDY on CARBON NEUTRAL Architecture & Spatial Planning by Kremena Dyakova
    Lifelong Learning Programme | ERASMUS ´Intensive Program´ “THE CARBON NEUTRAL CITY NEUSIEDL AM SEE in 2050” A CASE STUDY ON CARBON NEUTRAL Architecture & Spatial planning by Kremena Dyakova There is no doubt that environmental issues substantially influence our cities, culture and society. This effectively impacts on the planning process as well. “Virtually every city and country […] will, sooner or later, need to plan for its sustainable future or its very economic, environmental, and social survival.” 1 The fact of the matter is, Architecture and Planning have an undeniable say in how social and economic landscapes be changed in order to satisfy the needs of people for a high quality of life. Lessening the ecological impacts of growth in the cities is at present a must for cultivating successful development models, or livable communities for that matter. My own professional interest and experience with that subject is best reflected by the diploma project I prepared toward graduation in the Urban planning department at UACEG 2. “Lifestyle and Urban planning” examines the possibilities for a small urban settlement to be developed in accordance with both locally and globally sustainable objectives. The word goes of Sibbesborg area - situated approximately 30 kilometers east of the center of Helsinki. The project area encompasses 2 000 ha with a population of 3 000 inhabitants and less than 1000 jobs established by the year 2010. An open international planning competition for sustainable community development was organized in 2011 by Sipoo Municipality.3 The purpose of the competition was to enable the development of the Sibbesborg area and help it respond to the needs of the growing metropolitan region (fig.1|fig.2|fig.3).
    [Show full text]
  • Making the Most out of Lignin – Case Stora Enso Valmet Customer Days 2018
    Making the most out of lignin – case Stora Enso Valmet Customer Days 2018 Maria Björk Stora Enso Division Biomaterials Outline • Introduction • Lignin extraction at Sunila Mill − Operational experience − Effects on Na&S balance − Lignin as lime kiln fuel • Lignin applications Stora Enso in brief Everything that’s made with fossil-based materials today can be made from a tree tomorrow Consumer Board Packaging Biomaterials Wood Products Paper Solutions Trees grow back Wooden buildings at Trummens Strand in Sweden 2 hours 3 6 300 m to grow equal amount of wood in CLT = an Austrian forest on a summer day Image: GBJ Bygg Examples of our solutions replacing fossil-based materials today Lignin can replace e.g. fossil-based EcoFishBox phenol in Dissolving adhesives by Stora pulp can be Enso can used for replace producing polystyrene Trayforma by textiles packaging Stora Enso can replace plastic in e.g. Wooden frozen food construction packaging elements can replace concrete in buildings Stora Enso Sunila Mill Kotka, Finland LignoBoost timeline Valmet acquisition R&D Break- of LignoBoost through Pilot Demoplant Sunila Ideas trials Domtar start-up start-up 1997 1999 2001 2003 2004 2006 2008 2013 2015 The KAM programs The FRAM programs The LignoFuel program Courtesy of RISE LignoBoost process Liquor from digester 1A 1B 1C Wash liquid 2 3 4 5 6 Liquor ~40% LignoBoost Wash water Lignin pH 2.5 lean liquor H2SO4 LignoBoost Lignin CO2 PrecipitationHigh pH (high pH) PurificationLow pH (low pH) Trademarked products The Lineo™ family will have different lignin
    [Show full text]
  • Valmet's Roadshow Presentation
    Valmet – unique offering with process technology, automation and services Roadshow presentation May 2020 Agenda Valmet roadshow presentation 1 Valmet in brief 2 Investment highlights 3 Financials 4 Conclusion 2 May 2020 © Valmet | Roadshow presentation Valmet in brief We have strong market shares, unique offering and over 220 years of history Paper Pulp and Automation Services Energy Market position Market position Market position Market position #1 #1–3 #1–2 #1–2 Market share Market share Market share Market share ~40% 20-40% 10-20% ~17% Valmet’s road to becoming a global market leader 1797 onwards 1951 1968–1996 1999 Key acquisitions End of 2013 Acquisitions Tamfelt, Beloit, KMW, Valmet Several M&As, e.g. Metso created Beloit Technology (2000), Demerger to create Automation (2015) Sunds Defibrator KMW (1986), through the merger of Kvaerner Pulping & Valmet and Metso GL&V (2019) Wärtsilä paper finishing machinery (1987), Valmet and Rauma Kvaerner Power (2006), J&L (2019) Tampella Papertech (1992) Tamfelt (2009) 4 May 2020 © Valmet | Roadshow presentation New Comparable EBITA Valmet’s development since 2013 target 10–12% from 2020 onwards Orders received Net sales Comparable EBITA Comparable EBITA margin (EUR billion) (EUR billion) (EUR million) (%) 4.5 4.5 350 10% 4.0 4.0 9% 300 8% 3.5 3.5 250 7% 3.0 3.0 6% 2.5 2.5 200 5% 2.0 2.0 150 4% 1.5 1.5 100 3% 1.0 1.0 2% 50 0.5 0.5 1% 0.0 0.0 0 0% 2013 2014 2015 2016 2017 2018 2019 LTM 2013 2014 2015 2016 2017 2018 2019 LTM 2013201420152016201720182019 LTM 2013201420152016201720182019 LTM Pulp
    [Show full text]
  • Valmet Powerpoint Template
    Valmet’s path forward Pasi Laine, President and CEO November 26, 2013 Agenda Capital Markets Day 2013 1 Valmet in brief 2 Investment highlights 3 Valmet Must-Wins 4 Market outlook and profitability 5 Summary Valmet in brief Valmet’s road to becoming a global market leader 1797 Tamfelt 1951 1968-1996 End of 2013 1856 Tampella Valmet Several M&As i.e. Demerger to create 1858 Beloit 1986 KMW Valmet and Metso 1987 Wärtsilä paper finishing machinery 1860 KMW 1992 Tampella Papertech 1868 Sunds Defibrator 1942 1951-1995 1999 Key acquisitions Rauma- Several M&As Metso created 2000 Beloit Technology Raahe through the 2006 Kvaerner Pulping merger of Valmet Kvaerner Power and Rauma 2009 Tamfelt 4 November 26, 2013 Pasi Laine, CMD 2013 Valmet’s historical performance Net sales and EBITA before NRI (EUR million)1 2,925 3,014 2,735 2,703 2,453 EBITA 2,092 2,061 7.6% target 6-9% 7.1% 1,946 6.3% 6.5% 6.4% 5.5% 5.6% 5.3 % Services 4.1% Capital 877 974 1,011 636 834 847 715 809 EBITA-% 2006 2007 2008 2009 2010 2011 2012 Q1-Q3/13 EBITA before 115 184 194 116 159 205 192 79 NRI (MEUR) • Services has been growing steadily • Cyclicality in capital business • EBITA-% has been relatively stable over time 1) Carve-out figures for 2010-2012; as reported for Metso’s Pulp, Paper and Power segment for 2006-2009 5 November 26, 2013 Pasi Laine, CMD 2013 Capitalizing on the growing pulp, energy, tissue, and packaging board needs globally Global market leader with Sales1 #1-2 market positions in all markets served Stable, growing and profitable EUR 1 billion services
    [Show full text]
  • Interim Review January-March 2021
    Valmet’s Interim Review January 1 – March 31, 2021 Orders received increased to EUR 1.3 billion and Comparable EBITA to EUR 80 million in the first quarter Figures in brackets, unless otherwise stated, refer to the comparison period, i.e. the same period of the previous year. January–March 2021: Orders received and Comparable EBITA increased • Orders received increased 11 percent to EUR 1,312 million (EUR 1,187 million). – Orders received increased in the Pulp and Energy, Paper, and Automation business lines, and remained at the previous year's level in the Services business line. – Orders received increased in EMEA (Europe, Middle East and Africa), North America and China, and decreased in South America and Asia-Pacific. • Net sales remained at the previous year’s level and amounted to EUR 858 million (EUR 821 million). – Net sales increased in the Paper business line, remained at the previous year's level in the Services, and Pulp and Energy business lines, and decreased in the Automation business line. • Comparable earnings before interest, taxes and amortization (Comparable EBITA) were EUR 80 million (EUR 52 million), and the corresponding Comparable EBITA margin was 9.4 percent (6.3%). – Comparable EBITA increased due to higher net sales and lower operating expenses. • Earnings per share were EUR 0.38 (EUR 0.20). • Items affecting comparability amounted to EUR 8 million (EUR -1 million). • Cash flow provided by operating activities was EUR 148 million (EUR 173 million). Guidance for 2021 On April 16, 2021, Valmet revised upwards its net sales and Comparable EBITA guidance for 2021.
    [Show full text]
  • Financial Statements 2018 and Information for Investors Contents
    Financial Statements 2018 and Information for investors Contents Report of the Board of Directors 2018 ......................... 2 Financial Indicators ............................................... 20 Formulas for Calculation of Indicators ......................... 21 Consolidated Financial Statements ........................... 22 Consolidated Statement of Income ............................ 22 Consolidated Statement of Comprehensive Income ........ 23 Consolidated Statement of Financial Position ............... 24 Consolidated Statement of Cash Flows ....................... 26 Consolidated Statement of Changes in Equity ............... 27 Notes to the Consolidated Financial Statements ........... 28 Parent Company Financial Statements ...................... 77 Parent Company Statement of Income, FAS ................. 77 Parent Company Statement of Financial Position, FAS .... 78 Parent Company Statement of Cash Flows, FAS ............ 79 Notes to Parent Company Financial Statements ............ 80 Signatures of Board of Directors’ Report and Financial Statements ......................................................... 91 Auditor’s Report ................................................... 92 Board of Directors ................................................ 96 Executive Team ................................................... 98 Information for investors ......................................100 Investor Relations ...............................................105 Notes to the Consolidated Financial Statements .............. 28 1.
    [Show full text]
  • The Next Generation Lignoboost – Tailor-Maid Lignin Production for Different Lignin Bioproduct Markets
    Published May 26, 2017 Next Generation LignoBoost The next generation LignoBoost – tailor-maid lignin production for different lignin bioproduct markets Executive Summary The list of end products that can be made from lignin ranges from fuel applications to carbon fibers and fine chemicals. As more lignin becomes available on the market one key question that needs to be addressed is, of course; What to do with the produced lignin? This paper describes highlights and important results from collaborations aimed to develop add-on processes that will produce lignin with a tailored specification. Pilot scale trials have been carried out producing a bio based carbon black from lignin. Carbon black can be used as reinforcement filler in rubber products. It was also shown that an odor free lignin could be produced by decreasing the guaiacol content in the lignin from 1.42 mg/kg to 0.04 mg/kg. The odor free lignin concept is ready for commercialization enabling production of a completely odor free bio- composite from lignin. © Valmet Page | 1 Published May 26, 2017 Next Generation LignoBoost Introduction Kraft lignin production at large scale is commercial and purified lignin is sold globally. Known trade names for lignin are BioChoice™ (Domtar) and BioPiva™ (UPM). Several pulp and paper manufacturers, such as Stora Enso, Domtar, UPM, Metsä Fibre, Suzano and Fibria, are changing their image to a broader bioproduct scope, including a production of lignin. When producing pulp according to the traditional kraft method the overall yield going from wood to pulp is about 50%. Part of the other 50% is used to produce new cooking chemicals, electricity and heat.
    [Show full text]
  • Financial Statements Review 2019| 0 Valmet’S Financial Statements Review January 1 – December 31, 2019
    Valmet’s Financial Statements Review 2019| 0 Valmet’s Financial Statements Review January 1 – December 31, 2019 Orders received increased to EUR 4.0 billion and Comparable EBITA to EUR 316 million in 2019 Figures in brackets, unless otherwise stated, refer to the comparison period, i.e. the same period of the previous year. As of January 1, 2019, Valmet has adopted IFRS 16 without restating the figures for the comparison period. October–December 2019: Orders received amounted to EUR 1.0 billion • Orders received remained at the previous year’s level at EUR 1,009 million (EUR 1,026 million). - Orders received increased in the Paper and Services business lines, remained at the previous year’s level in Automation and decreased in the Pulp and Energy business line. - Orders received increased in North America and EMEA (Europe, Middle East and Africa), and decreased in South America, Asia-Pacific and China. • Net sales increased 12 percent to EUR 1,103 million (EUR 984 million). - Net sales increased in the Pulp and Energy, Automation and Services business lines and remained at the previous year’s level in the Paper business line. • Comparable earnings before interest, taxes and amortization (Comparable EBITA) were EUR 118 million (EUR 113 million), and the corresponding Comparable EBITA margin was 10.7 percent (11.5%). - Profitability remained at the previous year’s level. • Earnings per share were EUR 0.54 (EUR 0.49). • Items affecting comparability amounted to EUR 1 million (EUR -3 million). • Cash flow provided by operating activities was EUR 182 million (EUR 143 million).
    [Show full text]
  • VALMET-RAUMA 1998 Contents
    VALMET-RAUMA 1998 Contents The Establishment of Valmet-Rauma. 1 Valmet-Rauma in Brief . 2 Management Review . 4 Business Area Reviews . 6 Fiber and Paper Technology . 6 Automation and Control Technology . 12 Machinery . 16 Valmet-Rauma Year 1998, Pro Forma . 22 Income Statement . 23 Balance Sheet . 24 Cash Flow Statement . 26 Net Sales by Market Area and Personnel by Region . 27 Net Sales and Operating Profit by Business Area . 28 Orders Received and Personnel by Business Area . 29 Financial Indicators . 30 Share-Related Indicators . 31 Shares and Shareholders . 32 Board of Directors and Organization . 34 Addresses . 36 Financial Reports in 1999 The merging companies, Rauma Corporation and Valmet Corporation, have published their own annual reports for 1998. In 1999 Rauma and Valmet will publish the following financial reports: • Interim review for January- March 1999 released May 6, 1999 • Interim review for January-June 1999 released August 10, 1999 In connection with the interim reviews above the pro forma figures for Valmet-Rauma will also be published. The new company will publish its January-September 1999 interim review on November 10, 1999. The financial reports will be published in Finnish, English and Swedish. They can be ordered from Rauma’s and Valmet’s Corporate Communications (see back cover). THE ESTABLISHMENT OF VALMET-RAUMA On November 17, 1998, the Boards of Directors of Rauma and Valmet approved a merger plan, under which Rauma and Valmet will merge to form a new company, to be called Valmet-Rauma during the transition period. At the Rauma and Valmet extraordinary shareholders’ meetings held on January 31, 1999 the merger was approved.
    [Show full text]