Moscow. Oct 29, 2009. /Lesprom Network/. Metso Oyj said its net profit plunged to Euro 126 million for the first nine months of 2009 from Euro 278 million for the same period of 2008. The net sales dropped to Euro 3.66 billion from Euro 4.56 billion and the gross profit to Euro 911 million from Euro 1.2 billion. The operating profit decreased to Euro 239 million from Euro 447 million and the pre-tax profit to Euro 180 million from Euro 393 million. The EPS declined to Euro 0.88 from Euro 1.96.
The company's results for the 3Q 2009 showed similar trends with net profit down to Euro 63 million from Euro 98 million for the corresponding period a year ago and net sales to Euro 1.19 billion from Euro 1.52 billion.
Metso said that the orders received in the 3Q 2009 went down by 54% year-on-year to Euro 1 billion and those for the first nine months of 2009 by 46% to Euro 2.99 billion. The order backlog stood at Euro 3.34 billion at end-September 2009, compared to Euro 5.24 billion a year ago.
The company said that despite the signs of gradual economic recovery, it estimates its business environment to continue to be demanding during the rest of the year and the first half of 2010.
Metso expects its net sales for the whole 2009 to exceed Euro 5 billion in 2009 and the profitability level to be satisfactory.
Additional information: Metso Paper
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