2024-02-07 19:07:04 ET
Valmet Oyj (VOYJF)
Q4 2023 Results Conference Call
February 07, 2024 07:00 AM ET
Company Participants
Pekka Rouhiainen - Head, Investor Relations
Pasi Laine - President and Chief Executive Officer
Katri Hokkanen - Chief Financial Officer
Conference Call Participants
Antti Kansanen - SEB
Sven Weier - UBS
Panu Laitinmaki - Danske Bank
Johan Eliason - Kepler Cheuvreux
Mikael Doepel - Nordea
Tom Skogman - Carnegie
Tomi Railo - DNB
Presentation
Pekka Rouhiainen
Good afternoon, ladies and gentlemen, and welcome to Valmet's Fourth Quarter 2023 as well as the full financial year 2023 result publication webcast. My name is Pekka Rouhiainen. I'm head of Investor Relations here at Valmet. And the speakers today will be Valmet's President and CEO, Pasi Laine; and CFO, Katri Hokkanen. [Operator Instructions] But without further ado, Pasi, please go ahead.
Pasi Laine
Thank you Pekka. Welcome. So, 10 years have gone, now it's time to look how the numbers look for the tenth year of Valmet. So we are saying that the orders received remained at previous year's level and amounted to close to €5 billion and comparable EBITA increased to €619 million.
So first, I'll go through 2023 in brief, then some words about segments and business lines, then Katri will go through the financial development and I will go through dividend proposal, guidance and short-term market outlook.
First, '23 in brief. Like I said, orders were close to €5 billion. Net sales increased to €5.5 billion. And backlog in the end of the period was about €4 billion. Our comparable EBITA increased to €619 million and margins were 11.2%. So it's a record net sales in Valmet's history, it's record EBITA in euros and it's also record EBITA margin in Valmet's history. So a good year. And now after we have made the mergers and acquisitions, gearing was 40%, so a little bit higher than it used to be before the acquisitions and mergers. But all in all, good numbers.
Then a little bit more about them. So orders received were divided in Services, Automation Process Technologies show that about €1.8 billion came from Process Technologies, then Services and Automation altogether were about €3.1 billion, Services being €1.76 billion and Automation €1.34 billion.
Net sales by segment was such that net sales from Process Technologies was €2.4 billion and net sales from Services €1.7 billion and Automation €1.3 billion. And EBITA was such that our Process Technologies contributed €10 million -- €110 million, Services €312 million and Automation €248 million. So nice distribution of the business, orders received, revenues and comparable EBITA. In the end of the period, we employed about 19,000 people....
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Valmet Oyj (VOYJF) Q4 2023 Earnings Call Transcript