Finnish mining and metal manufacturing equipment provider Outotec has issued its financial results for the second quarter and the first half of the current year.
In the second quarter, Outotec reported an operating profit of €8 million, compared to an operating loss of €300,000 in the same quarter of the previous year. The company's sales revenues decreased by 7.3 percent year on year to €310.8 million, due to lower sales was weak plant and equipment order intake in 2014. Meanwhile, Outotec's order intake was €394.7 million in the given quarter, up four percent year on year.
In the first half, Outotec's operating profit increased by 38.1 percent to €11.6 million, while the company's sales revenues totaled €588.3 million, down 13.4 percent year on year. During the given period, Outotec's order intake amounted to €654.3 million, rising by 10.9 percent year on year.
According to Outotec, the market outlook for 2015 continues to be uncertain due to further depressed metal prices and customers’ focus on maximizing their free cash flows. The company expects that investments in base metals will gradually start to revitalize to compensate for reducing capacity. However, the recent further drop in metal prices and current macroeconomic uncertainties may further postpone investments.