Metso (METSO) Q1 2025 earnings summary

Executive summary

• Orders received grew 4% year-over-year to EUR 1,413 million, with Aggregates up 10% and Minerals up 2%.

• Sales declined 4% year-over-year to EUR 1,173 million, mainly due to timing of deliveries and lower order backlog in Aggregates.

• Adjusted EBITDA/EBITA margin held steady at 16.5%, reflecting strong cost management.

• Cash flow from operations increased 25% year-over-year to EUR 196 million, driven by inventory normalization.

• No large Minerals orders, but strong activity in small/mid-sized equipment and services; Aggregates benefited from US acquisitions.

Financial highlights

• Orders received: EUR 1,413 million (+4% year-over-year); sales: EUR 1,173 million (-4% year-over-year).

• Adjusted EBITDA/EBITA: EUR 193 million (16.5% of sales), down 3% year-over-year; operating profit: EUR 170 million.

• Earnings per share from continuing operations at EUR 0.14, down from EUR 0.15.

• Net debt: EUR 1,070 million; gearing: 39.4%; equity-to-assets ratio: 43.0%.

• Cash flow from operations: EUR 196 million (+25% year-over-year).

Outlook and guidance

• Market activity in both Minerals and Aggregates expected to remain at current levels for the next six months.

• Tariff-related turbulence could impact global economic growth and customer demand; company monitoring and preparing to respond.

• Inventory normalization program progressing, with completion targeted by end of Q2.

• H2 expected to see a heavier delivery schedule for minerals backlog.