Finnish mining and metal
manufacturing equipment provider
Outotec has issued its financial results for the fourth quarter and the full year of 2014.
In the fourth quarter
Outotec reported an operating profit of €2.3 million, falling 90.9 percent compared to the corresponding period of 2013. The company's sales revenues decreased by 11.8 percent to €403.2 million compared to the same quarter of the previous year. Meanwhile,
Outotec's order intake was €322.4 million in the given quarter, down 24.3 percent year on year.
In 2014,
Outotec's operating profit decreased by 92.6 percent to €10.4 million compared to 2013, due to lower sales and execution issues in some large customer projects, while the company's sales revenues totaled €1.4 billion, down 26.6 percent year on year. During 2014,
Outotec's order intake amounted to €1.18 billion, decreasing by 22.11 percent year on year.
According to
Outotec, the market outlook for 2015 is highly uncertain due to volatile metal prices, continued global macroeconomic uncertainty and geopolitical instability. Investments in the mining and metals sector are estimated to be somewhat lower than in 2014. The company expects that investments in the iron ore value chain will continue at a low level.