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Metso Corporation: Metso's Interim Review January 1 - March 31, 2015

Metso's Interim Review January 1 - March 31, 2015

Metso Corporation's stock exchange release on April 23, 2015 at 12:00 noon
local time

Metso will arrange a results audiocast on the day

at 15:00 EEST
(8:00 EDT, 13:00 BST, 14:00 CEST). The audiocast is viewable at A simultaneous conference call will be arranged,
allowing participants to
ask questions. You can also send your written questions during the audiocast
via chat function.

Recording of the event is available at the earliest after the event has
finished and a transcript will be available for downloading on Tuesday, April
28, 2015, the latest.

This is a summary of Metso's January-March 2015 Interim Review. Complete
report is attached to this release as a pdf-file and is also available at

Figures in brackets refer to the corresponding period in 2014, unless
otherwise stated. The Process Automation Systems (PAS) business was divested
on April 1, 2015, and is included in the Flow Control segment in this report.
This report also contains pro forma information for periods of January-March
2015 and January-March 2014, which represents the Metso Group excluding the
PAS business.

First quarter 2015 in brief

* Services net sales increased 7%
* Challenging market conditions affected equipment, project and product
* Divestment of the Process Automation Systems (PAS) business to Valmet was
agreed on January 15, 2015 and closed on April 1, 2015
* Orders received EUR 799 million (EUR 875 million), of which EUR 542 million
(EUR 545 million) were services orders.
* Net sales EUR 787 million (EUR 817 million), of which EUR 470 million
services (EUR 438 million).
* EBITA before non-recurring items EUR 70 million, or 8.9% of net sales (EUR
88 million, 10.7%).
* Pro forma information (excluding PAS): orders received EUR 737 million (791
million), net sales EUR 732 million (756 million), EBITA before
non-recurring items EUR 78 million, 10.6% of net sales (EUR 85 million and

Financial guidance for 2015

Our guidance for 2015 (originally published on February 5, 2015) remains
unchanged. We estimate that our net sales, excluding the Process Automation
Systems business, in 2015 will be between EUR 3,000 million and EUR 3,300
million and that our EBITA margin before non-recurring items will be around
13 percent.

The guidance for 2015 is based on the current market activity in our customer
industries, our current backlog and the current exchange rates.

President and CEO Matti Kähkönen:

The mining equipment market weakened further in the beginning of this year,
and revised investment plans in the oil&gas market have resulted in softening
project market for our valve business. The services business, however, grew
in the first quarter and is helping to offset the headwind from the equipment
and project business. Overall, we were successful in maintaining our gross
margins healthy and our performance was fairly stable in our core businesses.
This gives us confidence in meeting our full-year guidance for 2015.

During the quarter we also continued implementing our strategy by signing an
agreement to sell our Process Automation business (PAS) to Valmet for an
enterprise value of EUR 340 million. The divestment was closed on April 1,
2015, and, as a result, major strategic repositioning of Metso has now been

Key figures

| EUR million Q1/ Q1/ Change % 2014 |
| |
| 2015 2014 |
| Orders received 799 875 -9 3,409 |
| Orders received by the services business 542 545 -1 2,052 |
| % of orders received 68 62 60 |
| Order backlog at the end of the period 1,631 1,944 -16 1,575 |
| Net sales 787 817 -4 3,658 |
| Net sales of the services business 470 438 7 2,007 |
| % of net sales 60 54 55 |
| Earnings before interest, tax and amortization (EBITA) and non-recurring items 70 88 -20 460 |
| % of net sales 8.9 10.7 12.6 |
| Operating profit 65 76 -14 351 |
| % of net sales 8.3 9.3 9.6 |
| Earnings per share, EUR 0.25 0.28 -11 1.25 |
| Free cash flow 87 48 81 204 |
| Return on capital employed (ROCE) before taxes, annualized, % 12.9 14.3 16.4 |
| Equity-to-asset ratio at the end of the period, % 36.6 33.6 40.5 |
| Net gearing at the end of the period, % 41.4 42.8 45.6 |
| Personnel at the end of the period 15,350 16,198 -5 15,644 |
| |
Market development
We expect the demand for mining equipment, products and projects to remain
weak. Due to our large installed equipment base and our stronger services
presence, we expect the demand for our mining services to remain good.
The demand for aggregates equipment is expected to be satisfactory, while the
demand for related services is expected to be good.

The demand for Flow Control products related to customers' new investments is
expected to be satisfactory. The demand for Flow Control services is expected
to be good.

Metso is the world's leading industrial company in the mining and aggregates
industries and in the flow control business. Our knowledge, people and
solutions help drive sustainable improvements in performance and
profitability in our customers'

Metso has an uncompromising attitude towards safety. Our products range from
mining and construction equipment and systems to industrial valves and
controls. Our solutions are delivered and supported by decades of process
knowledge and a broad scope of services backed by a global footprint of over
90 service centers, thousands of service employees, and an extensive
logistics network.

Metso is listed on the NASDAQ OMX Helsinki, Finland. In 2014, Metso's net
sales totaled EUR 3.7 billion. Metso employs approximately 14,000 industry
experts in more than 50 countries. Expect results.,

For further information, please contact:

Matti Kähkönen, President and CEO, Metso Corporation, tel. +358 20 484 3000
Harri Nikunen, CFO, Metso Corporation, tel. +358 20 484 3010
Juha Rouhiainen, VP, Investor Relations, Metso Corporation, tel. +358 20 484

Metso Corporation

Harri Nikunen

Juha Rouhiainen
VP, Investor Relations

NASDAQ OMX Helsinki Ltd

Conference call details

Conference call participants are requested to dial in five minutes before the
scheduled time at:
United States: +1 646 254 3366
other countries: +44 20 3427 1903

The confirmation code for joining the conference call is 6107586.

Recording of the event is available at at the
earliest after the event has finished and a transcript of the event will be
available for downloading on Tuesday, April 28, 2015 the latest.

Metso interim review Q1 2015


This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Metso Corporation via Globenewswire


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