FLSmidth on Friday raised its annual sales outlook after the mining equipment and cement maker beat second-quarter core earnings forecasts despite inflationary pressures and costs related to winding down its Russian business.
The Danish firm reported quarterly earnings before interest, tax and amortisation (EBITA) of 307 million Danish crowns ($41.61 million), well above the 246 million expected by analysts in a poll compiled by the company.
It now expects annual sales of between 18.5 and 20 billion crowns, up from a previous forecast of 17.5-19 billion.
FLSmidth has said it will suspend new business in Russia and Belarus and wind down activities in those countries.
It incurred 50 million crowns in costs and took a 10 million crown write-down in the quarter related to those operations.
($1 = 7.3784 Danish crowns)
(By Stine Jacobsen; Editing by Anna Ringstrom and Jason Neely)
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