February 28, 2017 / 4:51 PM / a month ago

BRIEF-Valmet Q1 Comparable EBITA Rises To EUR 52 Million

April 23 (Reuters) - Valmet Oyj:

* REG-VALMET’S INTERIM REVIEW JANUARY 1 – MARCH 31, 2020: ORDERS RECEIVED INCREASED TO EUR 1.2 BILLION AND COMPARABLE EBITA TO EUR 52 MILLION

* MARCH 31, 2020: ORDERS RECEIVED INCREASED TO EUR 1.2 BILLION AND COMPARABLE EBITA TO EUR 52 MILLION

* BOARD OF DIRECTORS PROPOSES FOR ANNUAL GENERAL MEETING THAT A DIVIDEND OF EUR 0.80 PER SHARE BE PAID FOR FINANCIAL YEAR 2019

* PROPOSED DIVIDEND EQUALS TO 59 PERCENT OF VALMET’S NET RESULT IN 2019.

* VALMET ANNOUNCED ON APRIL 16, 2020 THAT COMPANY WITHDRAWS ITS GUIDANCE FOR 2020 DUE TO INCREASED UNCERTAINTY RELATED TO COVID-19 PANDEMIC.

* ESTIMATES THAT SHORT-TERM MARKET OUTLOOK IN SERVICES HAS DECREASED TO A SATISFACTORY/WEAK LEVEL (PREVIOUSLY GOOD LEVEL) AND SHORT-TERM MARKET OUTLOOK IN AUTOMATION HAS DECREASED TO A GOOD/SATISFACTORY LEVEL (PREVIOUSLY GOOD LEVEL)

* NET SALES INCREASED 20 PERCENT TO EUR 821 MILLION VERSUS EUR 686 MILLION YEAR AGO

* VALMET REITERATES GOOD SHORT-TERM MARKET OUTLOOK FOR PULP, AND BOARD AND PAPER, AND SATISFACTORY SHORT-TERM MARKET OUTLOOK FOR ENERGY, AND TISSUE.

* VALMET HAS A SOLID FOUNDATION TO COPE WITH VIRUS AND OUR LONG-TERM GROWTH DRIVERS HAVE NOT CHANGED

* ORDERS RECEIVED INCREASED 42% TO EUR 1,187 MILLION VERSUS EUR 835 MILLION YEAR AGO

* ON CORONAVIRUS: SPREAD OF CORONAVIRUS HAS INCREASED UNCERTAINTY FOR REST OF YEAR

* Q1 COMPARABLE EBITA EUR 52 MILLION VERSUS EUR 47 MILLION YEAR AGO Source text for Eikon: Further company coverage: (Gdansk Newsroom)

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