FLSmidth announces share buy-back programme of up to DKK 1.4 billion

Core Viewpoint - FLSmidth & Co. A/S has announced a share buy-back programme of up to DKK 1.4 billion, marking its first such initiative since 2012, to be completed before the next Annual General Meeting scheduled for 24 March 2026 [1] Financial Performance - The decision to initiate the share buy-back programme is supported by a significantly stronger and more stable financial performance, with a strategic shift towards higher-margin technology and service offerings, reducing exposure to volatile projects [2] - The company has undergone material de-risking of its order backlog through strategic portfolio optimisation [2] Shareholder Value - The Board of Directors aims to balance investments in growth with returning value to shareholders, leveraging substantial headroom to the targeted leverage ratio [3] - The share buy-back programme is intended to adjust the capital structure and meet obligations from share-based incentive programmes, with any repurchased shares not used for these obligations proposed for cancellation [4] Programme Details - The share buy-back programme is authorized to acquire up to 10 percent of the company's share capital, with a maximum of 4,600,000 shares, representing approximately 8 percent of the share capital [5][7] - The programme will commence on 25 June 2025 and conclude no later than 20 March 2026 [7] - Shares will be repurchased at prices not exceeding the higher of the last independent transaction price or the highest independent bid, with a deviation limit of 10% from the official price on Nasdaq Copenhagen [9] Execution and Management - The programme will be executed in compliance with EU regulations on market abuse, with BNP Paribas appointed to manage the buy-back independently [6] - FLSmidth retains the right to suspend the programme at any time, with announcements to be made regarding transactions every seven trading days [10]