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Soft mining CAPEX continues to hit FLSmidth in Q3

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World Coal,

FLSmidth’s Material Handling and Mineral Processing divisions continue to be hit by softness in the mining industry with Q3 revenue down 3% and 51% respectively.

Order intake for the Minerals Processing Division also suffered, dropping 46% year-on-year.

Order intake in the Material Handling Division, however, offered some rare good news, rising 70% on Q3 2013 mainly due to a DKK302 million coal order received from Vietnam. Indeed, coal remains the strongest sector for materials handling projects for the company, the company said in its quarterly earnings report.

Full year guidance remained unchanged for both divisions at DKK3.5 – 4.5 billion for the Materials Handling Division and DKK5.5 – 6.5 billion for Mineral Processing.

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