FLSmidth announced that consolidated group order intake increased 20% organically in the second quarter of 2022 with currency tailwinds supporting order intake in the quarter by 8%. The company said that both cement and mining business drove order intake and revenue growth.
During the second quarter, revenue and EBITA increased by 23% and 56%, respectively.
Cement revenue increased 12% organically, driven mainly by the increase in service revenue. Cement EBITA continued the positive trend and increased to 31 million Danish Krone in the second quarter of 2022. Cement EBITA margin was positive at 2.1%, compared to -2.7% in the prior-year period, driven by higher revenue in the quarter and improvements from the successfully executed reshaping activities in 2021.
“Cement continued its positive trajectory on improving profitability. The increased revenue and EBITA was despite inflationary pressure, supply chain challenges and costs related to our ongoing wind-down of Russian activities,” said Group CEO Mikko Keto.