Core Insights - FLSmidth's CEO Mikko Keto has announced his decision to step down to take an executive role at a non-competing company, with his departure expected in H1 2026 [1][2] - The Board of Directors has a succession plan in place and will begin the search for a new CEO immediately [2] - During his tenure, Mikko Keto has led a significant transformation of FLSmidth, improving its strategic, operational, and financial profile [3] Company Performance - Under Mikko Keto's leadership, FLSmidth has undergone a multi-year transformation, including portfolio rationalization and cost-discipline initiatives, resulting in improved commercial and financial performance [3] - The company is now positioned for the next phase of its strategic journey, focusing on driving profitable growth as the mining industry is expected to enter a new growth cycle [4] Leadership Transition - The Board of Directors expressed gratitude for Mikko Keto's contributions, noting his role in simplifying the business and strengthening operational execution [4] - The previously scheduled Capital Markets Day on March 11, 2026, has been postponed to ensure the involvement of the new CEO [4] Financial Guidance - The announcement regarding the CEO's departure does not alter FLSmidth's previously communicated financial guidance for the full year 2025 [5]

Core Insights - FLSmidth reported a solid strategic and operational momentum in Q3 2025 despite a challenging equipment market, with a focus on profitable growth and business simplification [2][6][22] - The company experienced a significant decline in Products order intake, down 38% organically, while Service order intake grew by 10%, indicating a shift in demand towards productivity-enhancing solutions [2][4][6] - The divestment of the Cement business has positioned FLSmidth as a pure-play supplier of technologies and services to the global mining industry, impacting financial guidance for the year [2][20][22] Commercial Performance - Service order intake increased by 10% organically in Q3 2025, driven by higher orders in upgrades and professional services, while the order backlog decreased to DKK 4,919 million [3][6] - Products order intake decreased by 43% compared to Q3 2024, with no large orders announced in Q3 2025, leading to a book-to-bill ratio of 61.4% [4][6] - PC&V order intake decreased by 9% year-on-year, primarily due to a tough comparison with a larger project-related order in Q3 2024, but year-to-date organic order growth remains at 9% [5][6] Financial Performance - Consolidated revenue decreased by 15% in Q3 2025 compared to Q3 2024, with a gross profit of DKK 1,198 million and a gross margin of 34.7% [11][28] - Adjusted EBITA margin improved to 15.3% in Q3 2025, reflecting a year-on-year increase, while EBITA increased to DKK 500 million [8][28] - Profit for the period from continuing activities rose to DKK 298 million, a 24% increase compared to Q3 2024 [11][28] Financial Guidance - FLSmidth adjusted its full-year revenue guidance to around DKK 14.5 billion, reflecting expectations of delayed project execution and adverse foreign exchange movements, while maintaining an Adjusted EBITA margin outlook of 15.0-15.5% [22][24] - The ongoing transformation activities and separation costs are expected to amount to approximately DKK 200 million for the full year 2025 [24] Other Business Developments - The company successfully closed the divestment of its Cement business on October 31, 2025, marking a strategic shift in its operational focus [20][22] - Changes in the board included the replacement of employee-elected members, effective October 31, 2025 [21]

Core Points - FLSmidth has completed the sale of its Cement business to Pacific Avenue Capital Partners, leading to the resignation of Leif Gundtoft from his position as employee-elected board member [1] - Saleh Mahmoud Ahmed Kamal Abdelhamid Elghamrawy has been appointed as the new employee-elected board member, effective 31 October 2025, and will serve for the remainder of the current term until 2029 [2] - The Board of Directors expresses gratitude to Leif Gundtoft for his contributions since 2021 and welcomes Saleh Kamal, anticipating his valuable experience to aid in the company's development [3] Company Overview - FLSmidth is a technology and service supplier for the global mining industry, focusing on enhancing performance, reducing operating costs, and minimizing environmental impact [4] - The company has set a sustainability goal, MissionZero, aiming for zero emissions in mining by 2030, and is committed to becoming carbon neutral in its operations by the same year [4]

Core Points - FLSmidth has completed the sale of its Cement business to Pacific Avenue Capital Partners, a global private equity firm [1] - The transaction does not affect FLSmidth's previously announced financial guidance for the full year 2025 [1] Company Overview - FLSmidth is a technology and service supplier to the global mining industry, focusing on improving performance, lowering operating costs, and reducing environmental impact [2] - The company has a sustainability ambition called MissionZero, aiming for zero emissions in mining by 2030 and plans to become carbon neutral in its own operations by 2030 [2]

Core Viewpoint - FLSmidth has successfully met all regulatory approvals for the divestment of its Cement business to Pacific Avenue Capital Partners, with the transaction expected to close in Q4 2025 [1][2]. Company Announcement - The Cement business has been a part of FLSmidth for 143 years, significantly contributing to the company's foundation, capabilities, and global reputation [2]. - The completion of the transaction is seen as a pivotal milestone, allowing FLSmidth to focus exclusively on being a technology and service supplier to the global mining industry [2]. - FLSmidth's previously announced financial guidance for the full year 2025 remains unchanged despite the divestment [3]. Company Profile - FLSmidth is a full flowsheet technology and service supplier to the global mining industry, aiming to enhance performance, reduce operating costs, and minimize environmental impact [4]. - The company has set a sustainability ambition, MissionZero, targeting zero emissions in mining by 2030 and aims to achieve carbon neutrality in its operations by the same year [4].

Core Insights - FLSmidth's Q2 2025 results show a strengthened profitability with an Adjusted EBITA margin of 15.2%, despite macroeconomic and geopolitical uncertainties [2] - The company achieved a 3% year-on-year growth in orders, particularly driven by a 44% increase in Products orders and a 13% organic growth in the Pumps, Cyclones & Valves segment [2][9] - Strategic milestones include the DKK 730 million sale of its headquarters, divestment of FLSmidth Cement, and the launch of a share buy-back program, reinforcing shareholder returns [2][23][24] Financial Performance - Consolidated revenue decreased by 12% in Q2 2025 compared to Q2 2024, primarily due to a 43% decline in Products revenue [13][11] - The Adjusted EBITA margin improved to 15.2% in Q2 2025 from 10.3% in Q2 2024, reflecting strong cost management [34] - Profit for the continuing business increased to DKK 262 million in Q2 2025, compared to DKK 76 million in Q2 2024 [14] Order Intake and Backlog - Service order intake decreased by 8% year-on-year in Q2 2025, attributed to delays in modernization projects in North America [6] - Products order intake saw a significant increase of 44% compared to Q2 2024, while the PC&V segment reported a 7% increase [7][8] - The consolidated order backlog decreased by 13% to DKK 10,650 million compared to Q2 2024 [9][34] Segment Reporting Changes - Following the divestment of FLSmidth Cement, the company will now report on three continuing segments: Service, Products, and Pumps, Cyclones & Valves [3][4] - The new segment structure aligns with the company's strategy to focus solely on the mining industry [4] Strategic Divestments - The divestment of the Cement business is expected to close in the second half of 2025, with an initial consideration of approximately DKK 550 million [24] - The sale of the corporate headquarters is anticipated to yield a net cash gain of approximately DKK 730 million [23] Financial Guidance - FLSmidth maintains its revenue guidance for 2025 at DKK 14.5-15.0 billion, with an expected Adjusted EBITA margin of 15.0-15.5% [28][29] - The guidance reflects anticipated lower revenue from the order backlog due to customer-driven delays [28]

Core Viewpoint - FLSmidth & Co. A/S has initiated a share buy-back program of up to DKK 1.4 billion, representing approximately 8 percent of its share capital, to enhance shareholder value and comply with market regulations [1]. Share Buy-Back Program Details - The share buy-back program allows FLSmidth to repurchase a maximum of 4,600,000 shares [1]. - As of the latest report, FLSmidth has accumulated a total of 631,500 shares under the buy-back program, with a total transaction value of DKK 246,211,512.53 [2][3]. - The average transaction prices for shares bought back during the period from 30 July 2025 to 5 August 2025 ranged from DKK 374.94 to DKK 395.94 [2]. Treasury Shares - Following the transactions, FLSmidth holds a total of 1,198,502 shares as treasury shares, which corresponds to 2.08 percent of the company's total share capital [3].

Core Viewpoint - FLSmidth has agreed to divest its Air Pollution Control (APC) business to Rubicon Partners, concluding a series of divestments that began in 2020 [1][2]. Group 1: Transaction Details - The divestment includes all related assets such as intellectual property, technology, employees, and order backlog [1]. - The transaction is expected to close in the second half of 2025 [1]. - FLSmidth anticipates a small net gain from the divestment, which will be recognized under discontinued operations [2]. Group 2: Financial Guidance - The transaction does not alter FLSmidth's previously communicated financial guidance for the full year 2025 [2]. Group 3: Company Background - FLSmidth is a technology and service supplier to the global mining industry, focusing on improving performance, lowering operating costs, and reducing environmental impact [3]. - The company aims for zero emissions in mining by 2030 as part of its sustainability ambition, MissionZero [3]. Group 4: Rubicon Partners Overview - Rubicon Partners is a UK-based investment partnership that specializes in acquiring complex industrial businesses [4]. - Over 32 years, Rubicon has invested in 83 businesses, with values ranging from £15 million to £250 million [4]. - The firm focuses on long-term value creation by collaborating closely with company management [4].

Company Announcement - FLSmidth & Co. A/S disclosed transactions made by its board members and executives in accordance with market abuse regulations [1][2] - The company has been granted power of attorney by its board members and executives to publish their trading activities [2] Executive Transactions - Mikko Keto, the CEO, sold 20,000 shares for a total of DKK 7,864,651.60 and now holds 23,484 shares [3] - The transaction was motivated by the need to fulfill tax obligations related to vested shares from long-term incentive plans [3] Company Overview - FLSmidth is a technology and service supplier to the global mining industry, focusing on improving performance, reducing costs, and minimizing environmental impact [4] - The company has set a sustainability goal, MissionZero, aiming for zero emissions in mining by 2030 and plans to become carbon neutral in its operations by 2030 [4]