reports
- Tomi Railo
Metso (Buy, TP: EUR11.00) - Relatively good place to be
We reiterate our BUY and EUR11 target price, with only small estimate changes following the Q1 results (which brought stronger orders but softer earnings than we expected). Despite general uncertainties, we continue to view Metso’s end-market exposure, financials and valuation as attractive.
- ABGSC Capital Goods Research
- Anders Idborg
- Karl Bokvist
- ABGSC Capital Goods Research
- Anders Idborg
- Karl Bokvist
Sandvik AB: 1 director
A director at Sandvik AB bought 1,800,000 shares at 192.123SEK and the significance rating of the trade was 67/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearl...
- ABGSC Capital Goods Research
- Anders Idborg
- Karl Bokvist
- Mattias Holmberg
Sandvik (Hold, TP: SEK200.00) - No sign is a good sign
Despite increased uncertainty in its comments, management seems fairly upbeat, in our view, considering the macro turmoil. SMM daily order intake was stable in the first two weeks of Q2 versus Q1, and Sandvik sees a limited impact on the margin from tariffs. Mining remained solid in Q1, with a strong outlook (especially in gold and copper), while infrastructure and industrial activity remained low (weak cutting tools orders). We have lowered our 2025–2027e adj. EBITA by c4% (roughly half due to ...
- ABGSC Capital Goods Research
- Anders Idborg
- Karl Bokvist
- ABGSC Capital Goods Research
- Anders Idborg
- Karl Bokvist
FLS opens new mill liner manufacturing facility in Chile that operates...
FLS opens new mill liner manufacturing facility in Chile that operates with 100% renewable energy and water reuse PRESS RELEASE FLSmidth & Co. A/S14 April 2025, Copenhagen, DenmarkFLS has inaugurated its new manufacturing facility for mill liners and related products in Casablanca, Chile, an important investment supporting the company’s strategic focus on mill liners in line with its CORE’26 strategy and MissionZero sustainability ambitions. The opening comes on the heels of the announcement of its new mill liner recycling service offering launched last week.FLS invested more than DKK 160 m...
- ABGSC Capital Goods Research
- Anders Idborg
- Karl Bokvist
- ABGSC Capital Goods Research
- Anders Idborg
- Karl Bokvist
- Lara Mohtadi
VOLV B VOLVO AB CLASS B
WRT1V WARTSILA OYJ ABP
ABB ABB LTD.
SAND SANDVIK AB
TREL B TRELLEBORG AB CLASS B
MOCORP METSO OUTOTEC OYJ
ASSA B ASSA ABLOY AB CLASS B
SKF B SKF AB CLASS B
HPOL B HEXPOL AB CLASS B
ALFA ALFA LAVAL AB
MTRS B MUNTERS GROUP
HEXA B HEXAGON AB
EPI A EPIROC AB
NIBE B NIBE INDUSTRIER AB
ATCO A ATLAS COPCO AB
ALIV SDB AUTOLIV INC.
FLS advances sustainability through innovation with its new mill liner...
FLS advances sustainability through innovation with its new mill liner recycling service offering PRESS RELEASE FLSmidth & Co. A/S10 April 2025, Copenhagen, Denmark Leading mining technology and service supplier FLS introduces its new mill liner recycling services offering, underscoring its commitment to sustainability and to supporting customers with productivity-enhancing mill liner solutions. The comprehensive recycling solution for composite and rubber grinding mill liners has just been launched in Chile to service customers across South America with plans for global expansion at a l...
- Tomi Railo
FLSmidth (Buy, TP: DKK330.00) - Increased risks
For the Q1 results (due on 14 May, details TBA), we focus on orders and outlook comments. Our Q1e Mining orders and clean EBITA are below post-Q4 consensus. We have cut our 2026–2027e clean EPS by c13% on average on lower-than-expected order announcements, lowered demand views and FX. We reiterate our BUY, but have cut our target price to DKK330 (430).
- ABGSC Capital Goods Research
- Anders Idborg
- Karl Bokvist
- Lara Mohtadi
VOLV B VOLVO AB CLASS B
WRT1V WARTSILA OYJ ABP
ABB ABB LTD.
SAND SANDVIK AB
TREL B TRELLEBORG AB CLASS B
MOCORP METSO OUTOTEC OYJ
ASSA B ASSA ABLOY AB CLASS B
SKF B SKF AB CLASS B
HPOL B HEXPOL AB CLASS B
ALFA ALFA LAVAL AB
MTRS B MUNTERS GROUP
HEXA B HEXAGON AB
EPI A EPIROC AB
NIBE B NIBE INDUSTRIER AB
ATCO A ATLAS COPCO AB
ALIV SDB AUTOLIV INC.
- ABGSC Capital Goods Research
- Anders Idborg
- Karl Bokvist
- ABGSC Capital Goods Research
- Anders Idborg
- Karl Bokvist
- ABGSC Capital Goods Research
- Anders Idborg
- Karl Bokvist
- Tomi Railo
Extraordinary Restricted Share Unit programme to retain key employees
Extraordinary Restricted Share Unit programme to retain key employees COMPANY ANNOUNCEMENT NO. 6-2025 3 April 2025, Copenhagen, Denmark The Board of Directors of FLSmidth & Co. A/S have today allocated restricted share units (RSUs) to members of the Executive Management and key staff (25 persons in total) to retain strategic resources to execute on the transformation of FLSmidth and position the company for the next leg of its strategic journey. The maximum number of restricted shares allocated is 44,021, of which 18,866 pertain to members of the Executive Management. The vesting period...
Long-Term Incentive Programme 2025
Long-Term Incentive Programme 2025 COMPANY ANNOUNCEMENT NO. 5-2025 3 April 2025, Copenhagen, Denmark The Board of Directors of FLSmidth & Co. A/S has today allocated performance shares to members of the Executive Management and key staff (107 persons in total) as part of the Group’s Long-Term Incentive Programme. The primary purpose of the programme is to retain key staff and to align the interests of shareholders and the incentive programme participants by rewarding performance in accordance with the company’s strategy and its long-term financial targets. The number of performance sha...
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