On April 29, Finland-based global engineering and technology company Metso has issued its financial results for the first quarter of 2010, stating that in the first quarter most of the company's markets and customer industries continued to recover.
According to the financial results, an operating profit of €69.5 million was registered in the first quarter of 2010, compared with an operating profit of €58.6 million in the first quarter of 2009, increasing 18.6 percent. Sales revenues in the first quarter of 2010 saw a decrease of four percent, dropping from €1.22 billion in the previous year to €1.17 billion.
New orders worth €1.36 billion were received in January-March this year, 45 percent more than €942 million in the corresponding period of 2009.
Commenting on the results, Metso's president and CEO Jorma Eloranta stated, "It seems that the recovery is gaining momentum, and is today broader based than during the past six months...Based on the recovery in order intake during the past six months and the current market outlook, we are somewhat raising our net sales guidance for 2010. We estimate that our net sales will be over €5 billion. We expect our 2010 profitability to be satisfactory."