FLSmidth & Co AS (OCSE:FLS)

kr 350.2 -5 (-1.41%) Market Cap: 19.90 Bil Enterprise Value: 21.01 Bil PE Ratio: 29.82 PB Ratio: 1.83 GF Score: 65/100

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Q2 2020 Flsmidth & Co A/S Earnings Call Transcript

Aug 04, 2020 / 09:00AM GMT

Release Date Price: kr183.2 (-3.07%)

Transcript

Operator

Ladies and gentlemen, welcome to the half year interim reports. The first part of this call announces FLSmidth's earnings. (Operator Instructions) As a reminder, this call is being recorded. Thank you. Today, I'm pleased to present CEO, Thomas Schulz. Please begin the meeting.

Thomas Schulz;S;Group CEO

FLSmidth & Co. A

/-

Hello, everybody. Here is FLSmidth out of Welby, Copenhagen here in Denmark. We will today talk about our Q2 result, and I have with me our new CFO, Roland M. Andersen, who will later in the presentation take over with the financial figures.

If we come to the Q2. The Q2 was definitely marked by the pandemic impact. What we can see, too, is cement was more impacted than mining. Our order intake and revenue declined and the profitability was affected by the lower revenue predominantly. We had a strong cash flow, and our business improvement measurements are on track.

From a market outlook point of view, we clearly see that the capital business is more impacted than the service. We have a

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