Finnish industrial equipment and automation company, Valmet, has reported a record-high quarterly order intake for the first quarter (Q1) of fiscal year 2023 (FY23). The company announced that its orders received had increased by 17% year-on-year (YoY) to €1,552 million, compared to the same period last year.
Valmet noted that orders received had increased across South America, North America, and Europe, the Middle East, and Africa (EMEA), while remaining stable in Asia-Pacific and decreasing in China. The company’s order backlog remained stable at €4,595 million, the same level as at the end of December 2022 and March 2022.
Valmet’s net sales for Q1 FY23 increased by 38% YoY to €1,321 million, with growth seen across all three segments. The USA, China, and Brazil were Valmet’s top three countries measured by net sales in Q1 FY23, accounting for 42% of total net sales. The company’s comparable EBITA also increased by 68% YoY to €133 million in Q1 FY23, equivalent to 10.1% of net sales.
Valmet’s President and CEO, Pasi Laine, expressed his satisfaction with the results, stating that the company’s orders received had reached a record-high quarterly order intake of €1.55 billion, with strong performances in the services and automation segments. Laine also expressed confidence that Valmet would continue to see growth in net sales and comparable EBITA throughout FY23.
Valmet’s positive performance in Q1 FY23 is a promising sign for the company’s continued success in the industrial equipment and automation industry. The company’s ability to achieve record-high orders received and maintain a stable order backlog is a testament to the strength of its business and the demand for its products and services.