Finnish mining and metal manufacturing equipment provider Outotec has issued its financial results for the second quarter and the first half of 2013.
Accordingly, in the second quarter the operating profit of Outotec decreased to €39.9 million, down 2.2 percent year on year, while its sales revenues fell 2.47 percent to €511.4 million compared to the same quarter of the previous year. Meanwhile, Outotec's order intake was €365.6 million in the given quarter, declining by 50 percent year on year.
In the January-June period this year, Outotec's operating profit increased by 4.53 percent to €71.5 million compared to the first half of 2012, while the company's sales revenues reached €1.01 billion, up 8.5 percent year on year. During the first half of the year, Outotec's order intake amounted to €856.7 million, decreasing by 26.2 percent year on year.
For the whole year, Outotec expects to achieve sales worth €2.1-2.3 billion. Outotec also stated that lower growth projections in China and increasing uncertainty in the global economy can lead to continued weakness in metal prices. In the short-term, these matters may cause delays in order placement and suspensions in ongoing projects. Meanwhile, the Middle Eastern market remains positive as companies have access to competitive energy, and countries in the region are seeking to diversify their economies outside the oil and gas industry.