FLSmidth & Co. A/S

DB:F6O1

Denmark / Industrials / Machinery

Overview

News

10Y Historical Financials

Stock Price

45.72 EUR


Key Metrics	Latest
Total Revenue	20.187 B
Adjusted EBITDA	2.07 B
EBITDA Margin	10.3%
Net Profit Margin	5.0%
Total Assets	26.935 B
Total Debt	1.773 B

10Y Historical Financial Statements

Summary Financials


Summary Financials

	Fiscal Year Ending										Latest
(in millions)	Dec-15	Dec-16	Dec-17	Dec-18	Dec-19	Dec-20	Dec-21	Dec-22	Dec-23	Dec-24	12 Months

Revenue	19,682	18,192	18,000	18,750	20,646	16,441	17,581	21,849	24,106	20,187	20,187
% Growth		-7.6%	-1.1%	4.2%	10.1%	-20.4%	6.9%	24.3%	10.3%	-16.3%

Adjusted EBITDA	1,934	1,536	1,581	1,709	1,800	891	1,147	1,286	1,474	2,070	2,070
% Margin	9.8%	8.4%	8.8%	9.1%	8.7%	5.4%	6.5%	5.9%	6.1%	10.3%	10.3%

Adjusted EBIT	1,347	984	1,085	1,222	1,291	435	716	871	1,098	1,710	1,710
% Margin	6.8%	5.4%	6.0%	6.5%	6.3%	2.6%	4.1%	4.0%	4.6%	8.5%	8.5%

Adjusted Net Income	554	563	109	637	787	209	394	544	418	1,010	1,010
% Margin	2.8%	3.1%	0.6%	3.4%	3.8%	1.3%	2.2%	2.5%	1.7%	5.0%	5.0%

Adjusted Basic EPS	11.33	11.50	2.21	12.81	15.74	4.18	7.57	9.60	7.36	17.77	17.77

Supporting Calculations

Income Statement

Balance Sheet

Statement of Cashflows


Income Statement
											Original
DKK	Fiscal Year Ending										Latest
(in millions)	Dec-15	Dec-16	Dec-17	Dec-18	Dec-19	Dec-20	Dec-21	Dec-22	Dec-23	Dec-24	Dec-24
	FY - 9	FY - 8	FY - 7	FY - 6	FY - 5	FY - 4	FY - 3	FY - 2	FY - 1	FY	LTM

Revenue	19,682	18,192	18,000	18,750	20,646	16,441	17,581	21,849	24,106	20,187	20,187
% Growth	NA	-7.6%	-1.1%	4.2%	10.1%	-20.4%	6.9%	24.3%	10.3%	-16.3%

Cost of Revenue	(14,535)	(13,538)	(13,403)	(14,057)	(15,797)	(12,591)	(13,408)	(16,773)	(18,146)	(13,722)	(13,722)
Gross Profit	5,147	4,654	4,597	4,693	4,849	3,850	4,173	5,076	5,960	6,465	6,465
% Revenue	26.2%	25.6%	25.5%	25.0%	23.5%	23.4%	23.7%	23.2%	24.7%	32.0%	32.0%

Research and Development	(371)	(307)	(309)	(278)	(261)	(258)	(277)	(290)	(439)	(425)	(425)
Selling and Marketing	(1,480)	(1,463)	(1,462)	(1,470)	(1,477)	(1,371)	(1,315)	(1,702)	(1,678)	(1,694)	(1,694)
General and Admin	(1,654)	(1,560)	(1,465)	(1,454)	(1,411)	(1,402)	(1,507)	(1,920)	(2,647)	(2,545)	(2,545)
Other Inc / (Exp)	(695)	(431)	(520)	(367)	(464)	(379)	(427)	(562)	(50)	(125)	(125)
Total Operating Exp	(4,200)	(3,761)	(3,756)	(3,569)	(3,613)	(3,410)	(3,526)	(4,474)	(4,814)	(4,789)	(4,789)

Operating Income	947	893	841	1,124	1,236	440	647	602	1,146	1,676	1,676
% Revenue	4.8%	4.9%	4.7%	6.0%	6.0%	2.7%	3.7%	2.8%	4.8%	8.3%	8.3%

Interest Expense	(62)	(66)	(45)	(65)	(65)	(59)	(60)	(50)	(92)	(118)	(118)
Pre-tax Income	885	827	796	1,059	1,171	381	587	552	1,054	1,558	1,558
Earnings of Discontinued Ops.	(178)	(68)	(343)	(176)	(22)	(21)	(17)	1	(181)	0	0
Provision for Taxes	(282)	(237)	(379)	(248)	(373)	(155)	(213)	(201)	(382)	(528)	(528)
Net Income to Company	425	522	74	635	776	205	357	352	491	1,030	1,030
% Margin	2.2%	2.9%	0.4%	3.4%	3.8%	1.2%	2.0%	1.6%	2.0%	5.1%	5.1%

Minority Interest in Earnings	(4)	(4)	2	7	(1)	5	1	18	6	(12)	(12)
Net Income to Stockholders	421	518	76	642	775	210	358	370	497	1,018	1,018

Preferred Dividends	0	0	0	0	0	0	0	0	0	0	0
Other Adj.	178	68	343	176	22	21	17	(1)	181	0	0

Net Income to Common	599	586	419	818	797	231	375	369	678	1,018	1,018
% Margin	3.0%	3.2%	2.3%	4.4%	3.9%	1.4%	2.1%	1.7%	2.8%	5.0%	5.0%

As Reported
Basic EPS (Continuing Ops)	12.25	11.98	8.51	16.45	15.94	4.61	7.20	6.50	11.95	17.91	17.91
Diluted EPS (Continuing Ops)	12.25	11.98	8.40	16.30	15.90	4.60	7.20	6.50	11.90	17.80	17.80

WA Basic Shares Out.	48.89	48.93	49.24	49.73	49.99	50.15	52.08	56.73	56.74	56.83	56.83
WA Diluted Shares Out.	49.00	48.99	49.69	50.05	50.09	50.15	52.08	56.88	57.14	57.33	57.33

EBITDA, EBIT Reconciliation
EBT, Incl. Unusual Items	885	827	796	1,059	1,171	381	587	552	1,054	1,558	1,558
Addback: Net Interest Expense	62	66	45	65	65	59	60	50	92	118	118
Addback: Other Non Operating Expenses, Total	226	36	197	95	40	(11)	19	9	51	61	61
Addback: Depreciation & Amortization	587	552	496	487	509	456	431	415	376	360	360
Addback: Restructuring Charges	0	30	2	0	0	24	57	0	0	0	0
Addback: Merger / Acquisition Expenses	0	0	0	0	5	0	0	252	0	0	0
Addback: Goodwill Impairment	0	0	0	0	0	0	0	0	0	0	0
Addback: Gain (Loss) On Sale Of Invest.	(32)	(48)	77	1	10	(1)	2	8	3	1	1
Addback: Gain (Loss) On Sale Of Assets	0	0	0	0	0	0	0	0	(102)	(28)	(28)
Addback: Asset Writedown	0	0	21	0	0	4	0	0	0	0	0
Addback: In Process R&D Expenses	0	0	0	0	0	0	0	0	0	0	0
Addback: Insurance Settlements	0	0	0	0	0	0	0	0	0	0	0
Addback: Legal Settlements	0	0	0	0	0	0	0	0	0	0	0
Addback: Other Unusual Items	206	73	(53)	2	0	(21)	(9)	0	0	0	0
Adjusted EBITDA	1,934	1,536	1,581	1,709	1,800	891	1,147	1,286	1,474	2,070	2,070
% Margin	9.8%	8.4%	8.8%	9.1%	8.7%	5.4%	6.5%	5.9%	6.1%	10.3%	10.3%

Adjusted EBIT	1,347	984	1,085	1,222	1,291	435	716	871	1,098	1,710	1,710
% Margin	6.8%	5.4%	6.0%	6.5%	6.3%	2.6%	4.1%	4.0%	4.6%	8.5%	8.5%

Adjusted Net Income Reconciliation
Net Income to Company	425	522	74	635	776	205	357	352	491	1,030	1,030
Addback: Unusual Items	174	55	47	3	15	6	50	260	(99)	(27)	(27)
Less: Tax Benefit of Unusual Items (26%)	(45)	(14)	(12)	(1)	(4)	(2)	(13)	(68)	26	7	7
Adjusted Net Income	554	563	109	637	787	209	394	544	418	1,010	1,010
% Margin	2.8%	3.1%	0.6%	3.4%	3.8%	1.3%	2.2%	2.5%	1.7%	5.0%	5.0%

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FLSmidth & Co. A/S

DB:F6O1

Denmark / Industrials / Machinery

10Y Historical Financials