PRESS RELEASE FLSmidth & Co. A/S 23 February 2026 Copenhagen, Denmark FLSmidth & Co. A/S (FLSmidth) today announces that Qasim Abrahams has been appointed President, Products Business Line, effective immediately, succeeding Julian Soles, who will leave the company. In addition, Alanas Kraujalis is appointed interim President, Service Business Line.This announcement follows the recent appointment of Toni Laaksonen as CEO of FLSmidth. Under Toni’s leadership the company is set to leverage its strengthened fou ...

Core Viewpoint - FLSmidth & Co. A/S is undergoing changes in its Board of Directors ahead of the Annual General Meeting on 24 March 2026, reflecting its strategic transformation into a focused supplier for the global mining industry [1][3]. Group 1: Board Changes - The company proposes to reduce the number of shareholder-elected Board members, with Chair Mads Nipper, Vice Chair Christian Bruch, and Board member Thrasyvoulos Moraitis not seeking re-election [3]. - Lene Skole is proposed as a new Board member and intended new Chair, bringing significant financial and strategic experience [4]. - Current Board members Anne-Louise Eberhard, Anna Kristiina Hyvönen, Lars Engström, and Rune Wichmann will seek re-election, with Rune Wichmann proposed as Vice Chair [4]. Group 2: Strategic Transformation - FLSmidth has successfully divested its heritage Cement business and is now a pure-play supplier of technologies and services to the mining industry, resulting in a more profitable company [1][2]. - The appointment of Toni Laaksonen as CEO aims to accelerate growth and further develop customer offerings [2]. - The company is entering a new strategic phase, with plans to be revealed later this year at a Capital Markets Day [2]. Group 3: Leadership Commentary - Chair Mads Nipper expressed pride in the company's accomplishments during his tenure and emphasized the strong financial and operational foundation for future growth [5].

Core Insights - FLSmidth has transitioned to a focused, pure-play mining technology and services company, marking a significant milestone in its development [3] - The company reported total revenue of DKK 14,612 million in 2025, with an Adjusted EBITA margin of 15.9% [1][4] Financial Performance - The Adjusted EBITA margin improved to 15.9% in 2025 from 11.3% in 2024 [5] - Net profit for 2025 was DKK 8 million, a decline from DKK 1,030 million in 2024, primarily due to impairment of deferred tax assets and losses from discontinued activities [5] - Cash flow from operating activities increased to DKK 996 million in 2025 from DKK 640 million in 2024 [5] - Free cash flow adjusted for business acquisitions and disposals rose to DKK 640 million in 2025 compared to DKK 7 million in 2024 [5] Revenue Guidance - For 2026, FLSmidth expects organic revenue growth in the range of -1% to 4% [4][7] - The company anticipates that reported revenue growth will be approximately one percentage point lower than organic revenue growth due to current exchange rates [5] - Order intake is expected to increase organically by 3% compared to 2024, driven by the Service and Pumps, Cyclones & Valves (PC&V) businesses [5] Business Segments - The Service business is projected to achieve organic revenue growth of 2% to 5%, supported by demand for productivity-enhancing solutions [13] - The Products business is expected to see organic revenue decline of -15% to -5% due to a reduced order backlog [13] - The PC&V business is forecasted to grow organically by 4% to 7%, benefiting from robust market conditions [13] Future Outlook - FLSmidth aims to enhance its market position and customer offerings while strengthening its Products business as market activity improves [3] - The company expects an Adjusted EBITA margin in the range of 15.5% to 16.5% for 2026, benefiting from stable earnings margins in the Service and PC&V businesses [6][7]

Core Viewpoint - FLSmidth & Co. A/S plans to initiate a new share buy-back programme of up to DKK 1.0 billion following the release of its Q1 2026 financial results, supported by a solid balance sheet and expected cash proceeds from the sale of its former corporate headquarters totaling DKK 730 million [1][2]. Group 1: Share Buy-Back Programme Details - The share buy-back programme aims to adjust FLSmidth's capital structure, with repurchased shares intended for cancellation at a General Meeting after the programme's completion [3]. - The programme is subject to approval at the Annual General Meeting on 24 March 2026, which includes renewing the Board of Directors' authorization to acquire own shares [4]. - The execution of the share buy-back will comply with EU regulations on market abuse and safe harbour provisions [5]. Group 2: Financial Timeline and Impact - The share buy-back programme is expected to commence after the Q1 2026 Interim Financial Report, anticipated on 13 May 2026, and is expected to be completed before the Annual General Meeting in 2027 [6]. - The new share buy-back initiative does not affect the ongoing programme, which is expected to conclude before the next Annual General Meeting on 24 March 2026 [7].

Core Viewpoint - FLSmidth & Co. A/S has appointed Toni Laaksonen as the new CEO, effective immediately, succeeding Mikko Keto, who left to pursue other opportunities [1][6]. Group 1: Leadership Transition - Toni Laaksonen's appointment follows a thorough recruitment process and comes after several years of restructuring at FLSmidth, positioning the company for its next phase of strategic and operational development [2]. - Mikko Keto has stepped down from his role and the Board of Directors expressed gratitude for his contributions to the company [6]. Group 2: New CEO's Background and Vision - Toni Laaksonen brings over 15 years of international leadership experience in the global mining technology and services industry, ensuring continuity in strategy while focusing on organizational culture and operational performance [3][7]. - Laaksonen has a strong track record in driving profitable growth and operational excellence, having previously served as President and CEO at Glaston Corporation [7]. - He aims to enhance commercial execution and customer experience, positioning FLSmidth to capitalize on future opportunities [5]. Group 3: Company Strategy and Goals - FLSmidth is focused on accelerating growth, improving customer experience, maintaining cost discipline, and strengthening organizational culture as it enters a new growth cycle in the mining industry [2][4]. - The company has a sustainability ambition, MissionZero, aiming for zero emissions in mining by 2030 and plans to become carbon neutral in its operations by the same year [9].

Core Viewpoint - FLSmidth has successfully completed the sale of its Air Pollution Control (APC) business to Rubicon Partners, with a small net gain expected from the divestment, which will be recorded under discontinued operations in Q4 2025 [1]. Group 1: Transaction Details - The sale was officially closed on 30 December 2025, following the announcement made on 30 June 2025 [1]. - The financial guidance for the full year 2025 remains unchanged despite the closing of the transaction [2]. Group 2: Company Overview - FLSmidth is a comprehensive technology and service provider for the global mining industry, focusing on enhancing performance, reducing operating costs, and minimizing environmental impact [3]. - 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 [3].

Core Points - FLSmidth & Co. A/S holds a total of 2,895,790 treasury shares, which represents approximately 5.02% of the Company's total share capital and voting rights, exceeding the 5% threshold [1] Company Overview - FLSmidth is a full flowsheet technology and service supplier to the global mining industry, focusing on improving performance, lowering operating costs, and reducing environmental impact [2] - The company's sustainability ambition, MissionZero, aims for zero emissions in mining by 2030, with a commitment to improving sustainability performance and becoming carbon neutral in its own operations by 2030 [2]

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]