reports
FLSmidth signs agreement to sell its corporate headquarters for a tota...
FLSmidth signs agreement to sell its corporate headquarters for a total net cash gain of DKK 730 million COMPANY ANNOUNCEMENT NO. 9-2025 FLSmidth & Co. A/S17 June 2025Copenhagen, DenmarkToday, FLSmidth has entered into a share purchase agreement with Nrep and AG Gruppen (collectively ‘the buying party’) to dispose all shares in FLSmidth’s subsidiary ‘Matr. No 2055 A/S’ owning land and buildings located on Vigerslev Allé 77 in Valby, Denmark.This announcement marks a major milestone in FLSmidth’s long history at Vigerslev Allé in Valby, Copenhagen, where the company has been based since 1899...
FLSmidth announces changes to Group Executive Management
FLSmidth announces changes to Group Executive Management PRESS RELEASE FLSmidth & Co. A/S3 June 2025, Copenhagen, DenmarkFLSmidth announces that Mikko Tepponen, Chief Digital Officer & Chief Operations Officer, has decided step down from his position to pursue an opportunity outside of the company. Mikko joined FLSmidth in mid-2020 and his last day with FLSmidth will be at the end of June 2025. We are continuing to implement our new corporate model. As part of this process, the role of Chief Digital Officer & Chief Operations Officer will be eliminated. Consequently, the respective responsi...
FLS acquires South African manufacturing facility to strengthen its re...
FLS acquires South African manufacturing facility to strengthen its regional presence PRESS RELEASE FLSmidth & Co. A/S2 June 2025, Copenhagen, DenmarkLeading mining technology and service supplier FLS has acquired Scott Specialized Rubber & Engineering (SSRE), a manufacturing company based in Pretoria, South Africa. SSRE manufactures and markets specialised, heavy-duty rubber products for a variety of industries, including for mineral processing. The acquisition of SSRE directly supports FLS’s CORE’26 strategy, which prioritises service growth through targeted investments. As the global lea...
Toni Laaksonen confirmed to join FLSmidth on 1 June 2025 as President,...
Toni Laaksonen confirmed to join FLSmidth on 1 June 2025 as President, Mining Service Business Lines PRESS RELEASE FLSmidth & Co. A/S15 May 2025, Copenhagen, DenmarkAs announced on 18 February 2025, FLSmidth has appointed Julian Soles as President, Mining Products Business Line, and Toni Laaksonen as President, Mining Service Business Line. While Julian Soles officially started with FLS on 1 May 2025, Toni’s start date was yet to be announced. It has now been confirmed, and Toni will start on 1 June 2025. Contacts:MediaJannick Denholt, , Investor RelationsAndreas Holkjær, , Jannick Denhol...
FLSmidth & Co. A/S: Better-than-expected Q1 2025, with a strong financ...
FLSmidth & Co. A/S: Better-than-expected Q1 2025, with a strong financial performance in Mining driving an upgraded full-year guidance COMPANY ANNOUNCEMENT NO. 8-2025FLSmidth & Co. A/S 14 May 2025Copenhagen, DenmarkToday, the Board of Directors of FLSmidth have approved the Q1 2025 Interim Financial Report.Highlights in Q1 2025:14% increase in Mining Service revenue driven by effective backlog management and order executionMining Adjusted EBITA margin of 15.1% reflecting continued profitability improvementsNegative growth in Cement order intake and revenue continue to reflect de-risking and...
FLSmidth & Co. A/S: Better-than-expected Q1 2025, with a strong financ...
FLSmidth & Co. A/S: Better-than-expected Q1 2025, with a strong financial performance in Mining driving an upgraded full-year guidance COMPANY ANNOUNCEMENT NO. 8-2025FLSmidth & Co. A/S 14 May 2025Copenhagen, DenmarkToday, the Board of Directors of FLSmidth have approved the Q1 2025 Interim Financial Report.Highlights in Q1 2025:14% increase in Mining Service revenue driven by effective backlog management and order executionMining Adjusted EBITA margin of 15.1% reflecting continued profitability improvementsNegative growth in Cement order intake and revenue continue to reflect de-risking and...
FLSmidth raises its full-year 2025 financial guidance
FLSmidth raises its full-year 2025 financial guidance COMPANY ANNOUNCEMENT NO. 7-2025FLSmidth & Co. A/S 14 May 2025Copenhagen, DenmarkOn the back of a strong financial performance in the Mining business in the first quarter of 2025, FLSmidth raises its financial guidance for the full year 2025.The Adjusted EBITA margin in the Mining business is now expected to be in the range of 14.0% to 14.5% (previously 13.5% to 14.0%).Consequently, the Adjusted EBITA margin for the Group is now expected to be in the range of 13.0% to 13.5% (previously 12.5% to 13.0%). Further, the EBITA margin for the Gr...
FLS to deliver full flotation technology package to one of the world’s...
FLS to deliver full flotation technology package to one of the world’s largest and most efficient iron ore beneficiation plants PRESS RELEASE FLSmidth & Co. A/S13 May 2025, Copenhagen, DenmarkA progressive Indian miner and steelmaker has selected FLS to supply a full flotation technology package for what is set to become one of the world’s largest, most efficient and sustainable iron ore beneficiation plants globally. The plant will be fed with domestic, low grade iron ore where the FLS flotation system will upgrade it to a final product that will be amongst the purest and highest-grade iro...
Nobia AB: 1 director
A director at Nobia AB bought 83,000 shares at 3.250SEK and the significance rating of the trade was 68/100. 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 clearly showi...
- Emilie Krutnes Engen
Autostore (Hold, TP: NOK4.70) - Headwinds likely to persist
We have cut our 2025e sales following a material sales miss in Q1, highlighting our concern of substantially lower underlying sales in 2024 driven by sizeable tailwinds, and as we find it likely the company has been delivering legacy orders. While we are cautious near-term and have cut our target price to NOK4.7 (6.7) on lower 2025e earnings, we have upgraded to HOLD (SELL), as we believe the downside risk to sales is largely priced in.
- Håkon Astrup
Sampo Oyj (Buy, TP: EUR10.20) - Strong underwriting momentum
Although Q1 PTP declined by 19% YOY to EUR377m, due to a lower investment result, Sampo continued to see strong underwriting momentum, with 9% YOY GWP growth (in local FX) and a 2.5%-points stronger underlying combined ratio YOY. Based on a better synergy outlook from the integration of Topdanmark, it increased its cost improvement guidance. We have raised our 2026–2027e EPS by ~1% on higher growth and ongoing underwriting improvements. We have raised our target price to EUR10.2 (9.8), and reite...
- Patrik Ling
Swedish Orphan Biovitrum (Buy, TP: SEK365.00) - Haemophilia the highli...
Q1 sales beat our forecast by 5% and adj. EBITA outperformed by 8%. Overall, we believe the highlight in the report was the stronger haemophilia result than expected, with solid growth in Altuvoct and a smaller decline for Elocta than forecast. The weak spot was Vonjo sales, which missed our estimate by 28% and consensus by 29%, with management citing stocking issues. We reiterate our BUY and SEK365 target price.
- ABGSC Healthcare Research
- Alexander Krämer
- Morten Larsen
- ABGSC Healthcare Research
- Alexander Krämer
- Morten Larsen
- ABGSC Healthcare Research
- Alexander Krämer
- Morten Larsen
- ABGSC Capital Goods Research
- Ali Shemmari
- Petter Nystrøm
- Johannes Grunselius
Boliden (Buy, TP: SEK480.00) - Earnings growth is on
Although Q1 earnings for the smelters and mines were slightly below our forecasts, we believe this was offset by constructive outlook comments for the rest of 2025 and explicit guidance that metal grades for the Kevitsa and Aitik mines should be picking up in 2026. We have cut our 2026–2027e EBITDA by 5%–4%, mainly due to slightly changed assumptions for FX and weaker prices and terms. We believe Boliden continues to offer impressive earnings growth and attractive multiples beyond the current ye...
- ABGSC Capital Goods Research
- Ali Shemmari
- Petter Nystrøm
- Johannes Grunselius
Boliden (Buy, TP: SEK460.00) - ‘Self-help’ and diversification
Reflecting the deterioration in the macro outlook and our lower metal price assumptions, we have cut our 2025–2026e EBITDA by 12–13%. However, we still expect healthy earnings, seeing relatively limited downside risk thanks to unique diversification across base and precious metals, and steady earnings growth in our forecast horizon from investments, as well as better metal grades at the Aitik mine from late this year. We reiterate our BUY, but have cut our target price to SEK460 (500).
- Emilie Krutnes Engen
Autostore (Sell, TP: NOK6.70) - Elevated risk to 2025e sales
We remain cautious ahead of the Q1 results, expecting a headwind to sales from pull-ins in Q4 and as tariff concerns and economic uncertainty are likely to slow investment activity, exacerbating what we view as a subdued sales outlook for AutoStore. While we have raised our Q1e orders on an FX tailwind and opex-based projects, we do not expect any improvements in underlying demand. We reiterate our SELL and have cut our target price to NOK6.7 (9.0) on lower earnings and asymmetric downside risk ...
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