On October 27, Finnish mining and metal manufacturing equipment provider Outotec issued its financial results for the third quarter of 2011, stating that order intake reached a record high level.
According to the financial results, the operating profit of Outotec was €34.3 million in the third quarter of 2011, up by 30 percent compared to the same period of 2010, while its sales revenues in the period in question rose 54 percent year on year to €352.8 million. Outotec's order intake was €802.7 million in the given period, increasing by 198 percent compared to the corresponding quarter of 2010.
Regarding the market outlook, Outotec said that market activity is expected to remain robust due to long-term metals demand projections, declining ore grades and tightening environmental regulations. However, in the short-term, the uncertainty of the global economic outlook may interfere with customers' planning and decision-making process. Quarterly order intake will continue to fluctuate considerably depending on the progress and maturity of sales negotiations and the availability of customers' financing.