Metso Produces a Strong 1Q
No-moat Metso produced a strong first quarter, with sales up 10% in the period, almost double the level seen in fiscal 2017, while the EBITA margin rose to 11.9%, the highest quarterly level since third-quarter 2016. These numbers are broadly in line with our expectations for the full year. We are maintaining our EUR 24 fair value estimate at this time.Positively, order inflow over the quarter was strong, rising by 17%, while the order backlog currently sits at just over EUR 1.55 billion, up fr...
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