On August 8, Finnish mining and metal manufacturing equipment provider Outotec issued its financial results for the second quarter and first half of 2010, stating that the market sentiment in the mining and metals industry continued to improve during the second quarter
According to the financial results, the operating profit of the company was €5.5 million in the second quarter of 2010, compared with an operating profit of €13.9 million in the first quarter of 2009, decreasing 60 percent. Sales revenues in the second quarter of 2010 increased 5.8 percent year on year from €223.8 million to €237.6 million.
The company's order intake was €349.7 million compared to €105.8 million in the same period last year, increasing 230.5 percent.
In the first half of the year Outotec recorded sales revenues of €1.31 billion compared to €966.6 million in the same period of the previous year. The company registered an operating loss of €4.6 million for the given period, compared to an operating profit of €31.6 million in the first half of 2009.
Company president and CEO Pertti Korhonen said, "The optimism in the industry was seen in increased customer negotiation activity with many good prospects. Our first half year order intake was strong supported by the positive long-term outlook for metals demand in the emerging economies, accumulated investment needs and increased production utilization rates, which drive services business growth. Profitability also improved clearly from the first quarter of 2010."