Reports and presentations

President and CEO Pasi Laine: Orders received remained at the previous year's level and amounted close to EUR 1.3 billion in the second quarter

"Valmet’s orders received remained at the previous year’s level and amounted close to EUR 1.3 billion in the second quarter. Orders received increased in Services, remained at the previous year’s level in Automation and decreased in Process Technologies. Orders received in Valmet’s stable business totaled close to EUR 3.1 billion during the last four quarters, representing 69% of Valmet’s orders received. This is a clear change in the company compared to 2014, when stable business represented 34% of orders received. Valmet’s order backlog amounted to EUR 3.8 billion at the end of the quarter.

Valmet’s net sales amounted to EUR 1.3 billion. Net sales remained at the previous year’s level in Services and Automation, and decreased in Process Technologies. Comparable EBITA margin was 16.9% in Services, 16.5% in Automation and 3.0% in Process Technologies. Comparable EBITA totaled to EUR 141 million and amounted to EUR 80 million in Services, EUR 58 million in Automation and EUR 15 million in Process Technologies.

Valmet’s short-term market outlook remains good for Services and Automation segments. Today, we have increased Process Technologies' short-term market outlook for pulp, and for board and paper to satisfactory. The short-term market outlook for energy was decreased to satisfactory. The market activity overall has improved compared to the end of Q1/2024 and we have a good starting point in terms of market activity going into the second half of the year. During the quarter, Valmet revised upwards its Comparable EBITA guidance for 2024. In the new guidance, Valmet estimates that net sales in 2024 will remain at the previous year's level in comparison with 2023 and Comparable EBITA in 2024 will increase in comparison with 2023.

I have been working in different positions at Valmet and its predecessors for several decades and as Valmet’s President and CEO since Valmet became an independent company in 2013. Since 2013, Valmet has created approximately EUR 5 billion in total shareholder value, taking the full dividend for 2023 into account. I am extremely proud of this and many other important milestones that we have achieved together as Valmeteers during these years.

As I prepare to step down from my role, I am confident that the foundation we have built positions Valmet well for continued success in the future. I wish to extend my deepest thanks to our customers and partners for the good cooperation we have enjoyed over the years, to our shareholders for your trust, and to all my colleagues at Valmet for your hard work, dedication and passion."