Danish mining equipment and cement maker FLSmidth FLS.CO said on Wednesday it expected sales this year to be boosted by higher demand for minerals needed for the green transition.
“The outlook for the mining industry remains positive driven by global economic development and increased demand for minerals required for the green transition,” the company said in a statement.
For the cement industry, FLSmidth’s other major division, the short-term outlook remains impacted by overcapacity and slow recovery, it said. However, a recovery was expected in the mid-term driven by increased demand for sustainability solutions, it said.
FLSmidth expects revenue this year between 17.5 billion Danish crowns and 19 billion Danish crowns ($2.67 billion-$2.90 billion) compared to last year’s 17.6 billion Danish crowns, which it reported in a preliminary earnings release last month.
The margin for earnings before interest, taxes and amortization this year is expected at 6-7%, compared with 5.9% last year.
($1 = 6.5470 Danish crowns)
(By Jacob Gronholt-Pedersen; Editing by Rashmi Aich and Muralikumar Anantharaman)
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