Reporting a net loss of DKK784 million (€105 million) for 2013 compared with a net profit of DKK1.3 billion (€174 million) in 2012. The company's overall order intake decreased 25% to DKK 20,911 million compared to DKK 27,727million the year before. The order backlog fell 24% to DKK 22,312 million) (end of 2012: DKK 29,451 million). Revenue increased 2% to DKK 26,923 million compared to DKK26,284million in 2012.
The company says that 2013 was a year marked by pre-emptive management decisions to prepare FLSmidth for the future and to manage the business cycle. Revenue was historically high despite currency headwind, while order intake declined due to the cyclical downturn of mining investments. Profitability and returns were significantly impacted by one-off costs related to management decisions and other issues. Group revenue and EBITA margin delivered as most recently guided.
Chief executive, Thomas Schulz, said 2014 would be “tough while 2015 will be flattish. In 2016 the whole industry will be back in growth."
