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© Metso www.metso.com
Matti Kähkönen, President and CEO
Harri Nikunen, CFO
April 23, 2013
© Metso
Forward looking statements
It should be noted that certain statements herein which are not historical facts, including, without
limitation, those regarding expectations for general economic development and the market situation,
expectations for customer industry profitability and investment willingness, expectations for company
growth, development and profitability and the realization of synergy benefits and cost savings, and
statements preceded by ”expects”, ”estimates”, ”forecasts” or similar expressions, are forward-looking
statements. These statements are based on current decisions and plans and currently known factors.
They involve risks and uncertainties which may cause the actual results to materially differ from the
results currently expected by the company.
Such factors include, but are not limited to:
1) general economic conditions, including fluctuations in exchange rates and interest levels which
influence the operating environment and profitability of customers and thereby the orders
received by the company and their margins
2) the competitive situation, especially significant technological solutions
developed by competitors
3) the company’s own operating conditions, such as the success of production, product
development and project management and their continuous development and improvement
4) the success of pending and future acquisitions and restructuring.
April 23, 20132
© Metso
1. Quarterly highlights
2. Strategic priorities
3. Financial performance
4. Outlook and guidance
3
Presentation contents
April 23, 2013
Q1/2013 Highlights
Matti Kähkönen
President and CEO
© Metso
Margin improved in an uncertain market
environment
• Market activity in line with Q4/12 levels
• Capital orders lower year-on-year, services
remained at a good level
• EBITA margin improved to 8.3% (8.0%) despite
a decline in capital equipment sales
• Performance was driven by a higher share of
the services business and a flexible business model
• Strategic study started to review the potential for
splitting Metso into two independent listed
companies
April 23, 20135
© Metso
Order intake
• Capital equipment orders declined
• Services remained at a good level
April 23, 20136
942 1,020 1,031
1,365
4,358
1,366
1,671
1,409 1,498
5,944
1,847
2,883
1,918
1,313
7,961
1,920 1,735
1,511 1,699
6,865
1,584
0
1,000
2,000
3,000
4,000
5,000
6,000
7,000
8,000
Q1 Q2 Q3 Q4 FY Q1 Q2 Q3 Q4 FY Q1 Q2 Q3 Q4 FY Q1 Q2 Q3 Q4 FY Q1
2009 2009 2009 2009 2009 2010 2010 2010 2010 2010 2011 2011 2011 2011 2011 2012 2012 2012 2012 2012 2013
EUR million
Servicesorders Capital orders Exceptionally large orders
© Metso
Net sales
April 23, 20137
• Services remained high at Q1/12 levels, book-to-bill of 1.2 supporting the backlog
and growth
• Capital net sales lower in Mining and Construction as well as in Pulp, Paper and
Power
• Automation was as expected
1,220 1,247 1,196 1,353
5,016
1,170 1,370 1,325
1,687
5,552
1,444 1,567 1,561
2,074
6,646
1,755 1,897 1,754
2,098
7,504
1,590
0
1,000
2,000
3,000
4,000
5,000
6,000
7,000
8,000
Q1 Q2 Q3 Q4 FY Q1 Q2 Q3 Q4 FY Q1 Q2 Q3 Q4 FY Q1 Q2 Q3 Q4 FY Q1
2009 2009 2009 2009 2009 2010 2010 2010 2010 2010 2011 2011 2011 2011 2011 2012 2012 2012 2012 2012 2013
EUR million
Servicesnetsales Capital net sales
© Metso
EBITA* margin improved thanks to gross margins
April 23, 20138
* before non-recurring items
Q1/2013 Q1/2012
Target
range
Mining and Construction 12.3% 10.4% 10-15%
Automation 8.8% 6.2% 11-16%
Pulp, Paper and Power 4.5% 7.7% 6-9%
Metso total 8.3% 8.0%
• Mining and Construction improved
significantly
• Automation progressing well
according to plan
• Pulp, Paper and Power weak, as
expected
92 85
134
88
399
88
125 129 150
491
124 140 163
202
629
141
178 171 197
688
132
7,5
6,8
11,2
6,5
8,0
7,5
9,1
9,7
8,9 8,8 8,6 8,9
10,4
9,7 9,5
8,0
9,4
9,8
9,4 9,2
8,3
0
2
4
6
8
10
12
14
0
100
200
300
400
500
600
700
Q1 Q2 Q3 Q4 FY Q1 Q2 Q3 Q4 FY Q1 Q2 Q3 Q4 FY Q1 Q2 Q3 Q4 FY Q1
2009 2009 2009 2009 2009 2010 2010 2010 2010 2010 2011 2011 2011 2011 2011 2012 2012 2012 2012 2012 2013
%EUR million
EBITA * EBITA% *
© Metso
Services business development
April 23, 20139
Strategic
priority #1
• Services activity remained good
• The largest order in Q1/2013 was a multi-
year, EUR 140 million life-cycle contract
with Russian Copper
• Non-booked portion of multi-year services
contracts amounts to EUR 400 million
Orders by type Q1/2013
Rolling 12-month net sales
Services orders by segment Q1/2013
881 873
0
200
400
600
800
1,000
Q1 2012 Q1 2013
EUR million
Mining and Construction Automation Pulp,Paper and Power
57%
43%
Servicesbusiness
Productand project
business
1,000
1,500
2,000
2,500
3,000
3,500
Q1
2007
Q3 Q1
2008
Q3 Q1
2009
Q3 Q1
2010
Q3 Q1
2011
Q3 Q1
2012
Q3 Q1
2013
EUR million
Services netsales, rolling 12 months
© Metso
Emerging markets
Net sales in emerging markets
April 23, 201310
Strategic
priority #2
Net sales in top 10 growth countries
(EUR million)
Country Q1/2013 Q1/2012 Change %
Brazil 180 201 -10
China 146 174 -16
Russia 59 66 -11
Chile 54 58 -7
India 45 45 0
South Africa 42 44 -5
Mexico 37 40 -7
Peru 29 26 +12
Turkey 23 33 -30
Indonesia 20 19 1
800
900
1,000
1,100
1,200
1,300
1,400
Q1
2011
Q2
2011
Q3
2011
Q4
2011
Q1
2012
Q2
2012
Q3
2012
Q4
2012
Q1
2013
EUR million
Servicesnetsales in EM, rolling 12 months
Services in emerging markets
• Emerging markets represented 49%
(50%) of net sales
• Share of orders received was 55% (45%)
• Book-to-bill was 1.1
1,000
1,500
2,000
2,500
3,000
3,500
4,000
Q1
2008
Q3
2008
Q1
2009
Q3
2009
Q1
2010
Q3
2010
Q1
2011
Q3
2011
Q1
2012
Q3
2012
Q1
2013
EUR million
Net sales in EM, rolling 12 months
© Metso
Mining business developed well
Mining order intake
April 23, 201311
Q1/2013 mining orders by market area
Strategic
priority #3
Mining order backlog
• Mining services continue to be strong
• Capital equipment demand softer than in
early 2012
• Backlog is strong, providing good visibility
for the rest of the year
• Our flexible operational model provides
resilience in changing market situations
38%
20%
20%
22%
EMEA North America South and Central America AsiaPacific
0
200
400
600
800
1,000
1,200
Q1
2009
Q3
2009
Q1
2010
Q3
2010
Q1
2011
Q3
2011
Q1
2012
Q3
2012
Q1
2013
EUR million
Mining, services Mining, capital Exceptionally large orders
0
400
800
1,200
1,600
2,000
Q1
2009
Q3
2009
Q1
2010
Q3
2010
Q1
2011
Q3
2011
Q1
2012
Q3
2012
Q1
2013
EUR million
Servicesbacklog Capital backlog
Financial
performance
Harri Nikunen, CFO
© Metso
Group key figures
April 23, 201313
EUR million Q1/2013 Q1/2012 Change % 2012
Orders received 1,584 1,920 -18 6,865
Services orders received 873 881 -1 3,264
Net sales 1,590 1,755 -9 7,504
Services net sales 727 721 1 3,174
% of net sales 47 43 44
EBITA * 131.5 141.2 -7 687.5
% of net sales 8.3 8.0 9.2
EBIT ** 119.2 129.0 -8 601.7
Earnings per share, EUR 0.48 0.56 2.46
Return on equity (ROE), % 13.5 17.1 17.3
Return on capital employed (ROCE)
before taxes, %
15.3 17.9 19.7
Free cash flow 74 116 -36 257
Cash conversion, % 104 136 70
Gearing at the end of the period, % 13.5 7.6 14.2
* before non-recurring items
** Includes non-recurring items of EUR -36 million in FY 2012
© Metso
Mining and Construction
April 23, 201314
EUR million Q1/2013 Q1/2012 Change % 2012
Orders received 786 964 -18 3,436
Services orders received 471 477 -1 1,771
Net sales 744 787 -5 3,492
Services net sales 383 388 -1 1,692
% of net sales 51 49 48
EBITA * 91.2 82.1 11 419.9
% of net sales 12.3 10.4 12.0
Return on capital employed ** 25.3 25.0 28.9
* before non-recurring items
** excluding cash and other non-operative balance sheet items
Note: Figures include recycling
Q1/2013 vs. Q1/2012
• Capital equipment orders declined in line with lower market activity year-on-year
• A somewhat slow start for the year in terms of net sales
• Gross margins improved in all businesses
• Very positive development in EBITA* and EBITA* margin
© Metso
Mining and Construction
April 23, 201315
* before non-recurring items
Note: Figures include Recycling
EBITA % * target range
0
2
4
6
8
10
12
14
16
0
500
1,000
1,500
2,000
2,500
3,000
3,500
4,000
Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1
2005 2006 2006 2007 2007 2008 2008 2009 2009 2010 2010 2011 2011 2012 2012 2013
%EUR million
Servicesnetsales, rolling 12 months Capital net sales, rolling 12 months EBITA-% before non-necurringitems, rolling 12 months
© Metso
Automation
April 23, 201316
* before non-recurring items
** excluding cash and other non-operative balance sheet items
EUR million Q1/2013 Q1/2012 Change % 2012
Orders received 254 224 13 845
Services orders received 118 104 13 382
Net sales 184 182 1 859
Services net sales 83 83 0 380
% of net sales 45 46 44
EBITA * 16.1 11.1 45 101.2
% of net sales 8.8 6.2 11.8
Return on capital employed ** 19.9 15.0 31.8
Q1/2013 vs. Q1/2012
• Orders received increased in all businesses; 13% in services and 24% in capital
• Net sales unchanged at Q1/2012 level
• Clear improvement in gross margin (pricing, cost savings)
• EBITA* and EBITA* margin improved but were not satisfactory; coming quarters to be
stronger
© Metso
0
2
4
6
8
10
12
14
16
18
0
100
200
300
400
500
600
700
800
900
1,000
Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1
2005 2006 2006 2007 2007 2008 2008 2009 2009 2010 2010 2011 2011 2012 2012 2013
%EUR million
Servicesnetsales, rolling 12 months Capital net sales, rolling 12 months EBITA-% before non-necurringitems, rolling 12 months
Automation
April 23, 201317
* before non-recurring items
EBITA % * target range
© Metso
Pulp, Paper and Power
April 23, 201318
* before non-recurring items
** excluding cash and other non-operative balance sheet items
EUR million Q1/2013 Q1/2012 Change % 2012
Orders received 511 677 -25 2,444
Services orders received 284 300 -5 1,111
Net sales 631 721 -12 3,014
Services net sales 260 250 4 1,102
% of net sales 41 35 37
EBITA * 28.3 55.8 -49 203.8
% of net sales 4.5 7.7 6.8
Return on capital employed ** 12.7 29.8 23.8
Q1/2013 vs. Q1/2012
• New projects are in the pipeline but no decisions were made during Q1/2013
• Services business continued to grow and provide stable profitability
• Weak EBITA* and EBITA* margin driven by low volumes, under-absorption and low
gross margins in capital businesses
• Further action will be taken to increase competitiveness of the business
© Metso
0
1
2
3
4
5
6
7
8
9
0
500
1,000
1,500
2,000
2,500
3,000
3,500
Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1
2005 2006 2006 2007 2007 2008 2008 2009 2009 2010 2010 2011 2011 2012 2012 2013
%EUR million
Servicesnetsales, rolling 12 months Capital net sales, rolling 12 months EBITA-% before non-necurringitems, rolling 12 months
Pulp, Paper and Power
April 23, 201319
EBITA % * target range
* before non-recurring items
© Metso
Improving our competitiveness in Pulp, Paper
and Power
April 23, 201320
• Permanent structural changes
continue in Pulp, Paper and
Power’s markets
• We have announced a new
program to improve
competitiveness in these
businesses
• Targeted savings are up to
EUR 100 million by 2016
© Metso
Net debt and net working capital
Net debt and gearing
April 23, 201321
Net working capital
540
1,099
583
311
260
149
316 277
33.4
75.7
32.5
15.0
12.2
7.6
14.2
13.5
0
10
20
30
40
50
60
70
80
0
200
400
600
800
1,000
1,200
2007 2008 2009 2010 2011 Q1
2012
2012 Q1
2013
%EUR million
Net debt Gearing
375
672
242 247
281 286
452 461
6.0
10.5
4.8
4.5
4.2 4.1
6.0 6.3
0
2
4
6
8
10
12
0
100
200
300
400
500
600
700
800
2007 2008 2009 2010 2011 Q1
2012
2012 Q1
2013
%EUR million
Net working capital, EUR NWC, as % of net sales
Outlook and guidance
Matti Kähkönen
President and CEO
© Metso
Market outlook
April 23, 201323
32% of net sales
50% service intensity
 Positive for capital and services
 Good in capital business with
volatility expected to continue.
Services excellent.
Mining
11% of net sales
40% service intensity
 Positive in emerging markets; flat
in developed markets
 Satisfactory for equipment and
services
11% of net sales
45% service intensity
 Positive for oil & gas customers;
flat in pulp & paper
 Good in oil & gas; softer in pulp &
paper. Services good.
Construction Automation
11% of net sales
30% service intensity
 Subject to the development of the
bioenergy market
 Satisfactory for projects and
services
Power
21% of net sales
50% service intensity
 Demand for board and tissue
growing; other grades flat or down
 Weak for paper and board
machines. Tissue machines and
services good.
9% of net sales
40% service intensity
 Positive, mainly due to packaging
board and tissue
 Good for rebuilds and services.
Pulp mill market activity
satisfactory.
Paper, Board, Tissue Pulp
Long-term demand Short-term demand
Share of Metso net sales in January – December 2012
Uncertainties might impact the timing of large project orders
© Metso
Deliveries in
2013
Deliveries
after 2013
Deliveriesin
2012
Deliveries
after 2012
0
1,000
2,000
3,000
4,000
5,000
6,000
Order backlogMarch 31,
2012
Order backlogMarch 31,
2013
EUR million
Order backlog* of EUR 4.5 billion
April 23, 201324 * At the end of March 2013
Services orders: 30%
Services orders: 33%
4,023
5,310
4,515 4,558
0
1,000
2,000
3,000
4,000
5,000
6,000
2010 2011 2012 Q1
2013
EUR million
Mining and Construction Automation Pulp,Paper and Power
© Metso
We estimate that
• Our EBITA before non-recurring
items will be at around 2012 levels
and our net sales will be at 2012
level or slightly below.
The estimates for our financial performance in 2013 are
based on Metso’s current market outlook, order backlog
for 2013 and foreign exchange rates in March 2013.
25
Guidance for 2013
April 23, 2013
© Metso
Demerger study proceeding according to plan
April 23, 201326
• On March 25, the Board decided to start a process to study the potential
demerger of Metso
• The plan is to form a new company out of the Pulp, Paper and Power
businesses and list it on the NASDAQ OMX Helsinki stock exchange
• The Mining and Construction and Automation businesses would remain in
the current company
• If the go-ahead is given, the process would be completed by the end of
2013
• Next planned milestones:
- Signing and registration of a demerger plan
- Extraordinary General Meeting in the second half of 2013
© Metso
‘PPP’
• Stable underlying market growth driven
by increasing board and tissue
consumption in emerging markets,
service expansion and biorefining
opportunities
• Global market leader – #1-3 player in all
markets served
• Competitive advantage in emerging
markets, services offering and
technologies
• Share of services close to 40% and large
backlog provide good revenue visibility
and resilience
• Stable growth, increasing profitability and
asset-light operating model will support
good returns on capital employed
Key attributes of the planned new entities
27
‘MAC&AUT’
• Strong underlying market growth in all
served markets: mining, construction and
related automation
• Strong global market position - #1-3 player
in core market segment
• Competitive advantage in global
operations, service offering and
technologies
• Share of services close to 50% and
significant backlog provide good revenue
visibility and resilience
• Significant potential for growth within the
value chain and service markets, both
through organic expansion and M&A
Metso Interim Review January-March 2013 presentation

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Metso Interim Review January-March 2013 presentation

  • 1. © Metso www.metso.com Matti Kähkönen, President and CEO Harri Nikunen, CFO April 23, 2013
  • 2. © Metso Forward looking statements It should be noted that certain statements herein which are not historical facts, including, without limitation, those regarding expectations for general economic development and the market situation, expectations for customer industry profitability and investment willingness, expectations for company growth, development and profitability and the realization of synergy benefits and cost savings, and statements preceded by ”expects”, ”estimates”, ”forecasts” or similar expressions, are forward-looking statements. These statements are based on current decisions and plans and currently known factors. They involve risks and uncertainties which may cause the actual results to materially differ from the results currently expected by the company. Such factors include, but are not limited to: 1) general economic conditions, including fluctuations in exchange rates and interest levels which influence the operating environment and profitability of customers and thereby the orders received by the company and their margins 2) the competitive situation, especially significant technological solutions developed by competitors 3) the company’s own operating conditions, such as the success of production, product development and project management and their continuous development and improvement 4) the success of pending and future acquisitions and restructuring. April 23, 20132
  • 3. © Metso 1. Quarterly highlights 2. Strategic priorities 3. Financial performance 4. Outlook and guidance 3 Presentation contents April 23, 2013
  • 5. © Metso Margin improved in an uncertain market environment • Market activity in line with Q4/12 levels • Capital orders lower year-on-year, services remained at a good level • EBITA margin improved to 8.3% (8.0%) despite a decline in capital equipment sales • Performance was driven by a higher share of the services business and a flexible business model • Strategic study started to review the potential for splitting Metso into two independent listed companies April 23, 20135
  • 6. © Metso Order intake • Capital equipment orders declined • Services remained at a good level April 23, 20136 942 1,020 1,031 1,365 4,358 1,366 1,671 1,409 1,498 5,944 1,847 2,883 1,918 1,313 7,961 1,920 1,735 1,511 1,699 6,865 1,584 0 1,000 2,000 3,000 4,000 5,000 6,000 7,000 8,000 Q1 Q2 Q3 Q4 FY Q1 Q2 Q3 Q4 FY Q1 Q2 Q3 Q4 FY Q1 Q2 Q3 Q4 FY Q1 2009 2009 2009 2009 2009 2010 2010 2010 2010 2010 2011 2011 2011 2011 2011 2012 2012 2012 2012 2012 2013 EUR million Servicesorders Capital orders Exceptionally large orders
  • 7. © Metso Net sales April 23, 20137 • Services remained high at Q1/12 levels, book-to-bill of 1.2 supporting the backlog and growth • Capital net sales lower in Mining and Construction as well as in Pulp, Paper and Power • Automation was as expected 1,220 1,247 1,196 1,353 5,016 1,170 1,370 1,325 1,687 5,552 1,444 1,567 1,561 2,074 6,646 1,755 1,897 1,754 2,098 7,504 1,590 0 1,000 2,000 3,000 4,000 5,000 6,000 7,000 8,000 Q1 Q2 Q3 Q4 FY Q1 Q2 Q3 Q4 FY Q1 Q2 Q3 Q4 FY Q1 Q2 Q3 Q4 FY Q1 2009 2009 2009 2009 2009 2010 2010 2010 2010 2010 2011 2011 2011 2011 2011 2012 2012 2012 2012 2012 2013 EUR million Servicesnetsales Capital net sales
  • 8. © Metso EBITA* margin improved thanks to gross margins April 23, 20138 * before non-recurring items Q1/2013 Q1/2012 Target range Mining and Construction 12.3% 10.4% 10-15% Automation 8.8% 6.2% 11-16% Pulp, Paper and Power 4.5% 7.7% 6-9% Metso total 8.3% 8.0% • Mining and Construction improved significantly • Automation progressing well according to plan • Pulp, Paper and Power weak, as expected 92 85 134 88 399 88 125 129 150 491 124 140 163 202 629 141 178 171 197 688 132 7,5 6,8 11,2 6,5 8,0 7,5 9,1 9,7 8,9 8,8 8,6 8,9 10,4 9,7 9,5 8,0 9,4 9,8 9,4 9,2 8,3 0 2 4 6 8 10 12 14 0 100 200 300 400 500 600 700 Q1 Q2 Q3 Q4 FY Q1 Q2 Q3 Q4 FY Q1 Q2 Q3 Q4 FY Q1 Q2 Q3 Q4 FY Q1 2009 2009 2009 2009 2009 2010 2010 2010 2010 2010 2011 2011 2011 2011 2011 2012 2012 2012 2012 2012 2013 %EUR million EBITA * EBITA% *
  • 9. © Metso Services business development April 23, 20139 Strategic priority #1 • Services activity remained good • The largest order in Q1/2013 was a multi- year, EUR 140 million life-cycle contract with Russian Copper • Non-booked portion of multi-year services contracts amounts to EUR 400 million Orders by type Q1/2013 Rolling 12-month net sales Services orders by segment Q1/2013 881 873 0 200 400 600 800 1,000 Q1 2012 Q1 2013 EUR million Mining and Construction Automation Pulp,Paper and Power 57% 43% Servicesbusiness Productand project business 1,000 1,500 2,000 2,500 3,000 3,500 Q1 2007 Q3 Q1 2008 Q3 Q1 2009 Q3 Q1 2010 Q3 Q1 2011 Q3 Q1 2012 Q3 Q1 2013 EUR million Services netsales, rolling 12 months
  • 10. © Metso Emerging markets Net sales in emerging markets April 23, 201310 Strategic priority #2 Net sales in top 10 growth countries (EUR million) Country Q1/2013 Q1/2012 Change % Brazil 180 201 -10 China 146 174 -16 Russia 59 66 -11 Chile 54 58 -7 India 45 45 0 South Africa 42 44 -5 Mexico 37 40 -7 Peru 29 26 +12 Turkey 23 33 -30 Indonesia 20 19 1 800 900 1,000 1,100 1,200 1,300 1,400 Q1 2011 Q2 2011 Q3 2011 Q4 2011 Q1 2012 Q2 2012 Q3 2012 Q4 2012 Q1 2013 EUR million Servicesnetsales in EM, rolling 12 months Services in emerging markets • Emerging markets represented 49% (50%) of net sales • Share of orders received was 55% (45%) • Book-to-bill was 1.1 1,000 1,500 2,000 2,500 3,000 3,500 4,000 Q1 2008 Q3 2008 Q1 2009 Q3 2009 Q1 2010 Q3 2010 Q1 2011 Q3 2011 Q1 2012 Q3 2012 Q1 2013 EUR million Net sales in EM, rolling 12 months
  • 11. © Metso Mining business developed well Mining order intake April 23, 201311 Q1/2013 mining orders by market area Strategic priority #3 Mining order backlog • Mining services continue to be strong • Capital equipment demand softer than in early 2012 • Backlog is strong, providing good visibility for the rest of the year • Our flexible operational model provides resilience in changing market situations 38% 20% 20% 22% EMEA North America South and Central America AsiaPacific 0 200 400 600 800 1,000 1,200 Q1 2009 Q3 2009 Q1 2010 Q3 2010 Q1 2011 Q3 2011 Q1 2012 Q3 2012 Q1 2013 EUR million Mining, services Mining, capital Exceptionally large orders 0 400 800 1,200 1,600 2,000 Q1 2009 Q3 2009 Q1 2010 Q3 2010 Q1 2011 Q3 2011 Q1 2012 Q3 2012 Q1 2013 EUR million Servicesbacklog Capital backlog
  • 13. © Metso Group key figures April 23, 201313 EUR million Q1/2013 Q1/2012 Change % 2012 Orders received 1,584 1,920 -18 6,865 Services orders received 873 881 -1 3,264 Net sales 1,590 1,755 -9 7,504 Services net sales 727 721 1 3,174 % of net sales 47 43 44 EBITA * 131.5 141.2 -7 687.5 % of net sales 8.3 8.0 9.2 EBIT ** 119.2 129.0 -8 601.7 Earnings per share, EUR 0.48 0.56 2.46 Return on equity (ROE), % 13.5 17.1 17.3 Return on capital employed (ROCE) before taxes, % 15.3 17.9 19.7 Free cash flow 74 116 -36 257 Cash conversion, % 104 136 70 Gearing at the end of the period, % 13.5 7.6 14.2 * before non-recurring items ** Includes non-recurring items of EUR -36 million in FY 2012
  • 14. © Metso Mining and Construction April 23, 201314 EUR million Q1/2013 Q1/2012 Change % 2012 Orders received 786 964 -18 3,436 Services orders received 471 477 -1 1,771 Net sales 744 787 -5 3,492 Services net sales 383 388 -1 1,692 % of net sales 51 49 48 EBITA * 91.2 82.1 11 419.9 % of net sales 12.3 10.4 12.0 Return on capital employed ** 25.3 25.0 28.9 * before non-recurring items ** excluding cash and other non-operative balance sheet items Note: Figures include recycling Q1/2013 vs. Q1/2012 • Capital equipment orders declined in line with lower market activity year-on-year • A somewhat slow start for the year in terms of net sales • Gross margins improved in all businesses • Very positive development in EBITA* and EBITA* margin
  • 15. © Metso Mining and Construction April 23, 201315 * before non-recurring items Note: Figures include Recycling EBITA % * target range 0 2 4 6 8 10 12 14 16 0 500 1,000 1,500 2,000 2,500 3,000 3,500 4,000 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 2005 2006 2006 2007 2007 2008 2008 2009 2009 2010 2010 2011 2011 2012 2012 2013 %EUR million Servicesnetsales, rolling 12 months Capital net sales, rolling 12 months EBITA-% before non-necurringitems, rolling 12 months
  • 16. © Metso Automation April 23, 201316 * before non-recurring items ** excluding cash and other non-operative balance sheet items EUR million Q1/2013 Q1/2012 Change % 2012 Orders received 254 224 13 845 Services orders received 118 104 13 382 Net sales 184 182 1 859 Services net sales 83 83 0 380 % of net sales 45 46 44 EBITA * 16.1 11.1 45 101.2 % of net sales 8.8 6.2 11.8 Return on capital employed ** 19.9 15.0 31.8 Q1/2013 vs. Q1/2012 • Orders received increased in all businesses; 13% in services and 24% in capital • Net sales unchanged at Q1/2012 level • Clear improvement in gross margin (pricing, cost savings) • EBITA* and EBITA* margin improved but were not satisfactory; coming quarters to be stronger
  • 17. © Metso 0 2 4 6 8 10 12 14 16 18 0 100 200 300 400 500 600 700 800 900 1,000 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 2005 2006 2006 2007 2007 2008 2008 2009 2009 2010 2010 2011 2011 2012 2012 2013 %EUR million Servicesnetsales, rolling 12 months Capital net sales, rolling 12 months EBITA-% before non-necurringitems, rolling 12 months Automation April 23, 201317 * before non-recurring items EBITA % * target range
  • 18. © Metso Pulp, Paper and Power April 23, 201318 * before non-recurring items ** excluding cash and other non-operative balance sheet items EUR million Q1/2013 Q1/2012 Change % 2012 Orders received 511 677 -25 2,444 Services orders received 284 300 -5 1,111 Net sales 631 721 -12 3,014 Services net sales 260 250 4 1,102 % of net sales 41 35 37 EBITA * 28.3 55.8 -49 203.8 % of net sales 4.5 7.7 6.8 Return on capital employed ** 12.7 29.8 23.8 Q1/2013 vs. Q1/2012 • New projects are in the pipeline but no decisions were made during Q1/2013 • Services business continued to grow and provide stable profitability • Weak EBITA* and EBITA* margin driven by low volumes, under-absorption and low gross margins in capital businesses • Further action will be taken to increase competitiveness of the business
  • 19. © Metso 0 1 2 3 4 5 6 7 8 9 0 500 1,000 1,500 2,000 2,500 3,000 3,500 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 2005 2006 2006 2007 2007 2008 2008 2009 2009 2010 2010 2011 2011 2012 2012 2013 %EUR million Servicesnetsales, rolling 12 months Capital net sales, rolling 12 months EBITA-% before non-necurringitems, rolling 12 months Pulp, Paper and Power April 23, 201319 EBITA % * target range * before non-recurring items
  • 20. © Metso Improving our competitiveness in Pulp, Paper and Power April 23, 201320 • Permanent structural changes continue in Pulp, Paper and Power’s markets • We have announced a new program to improve competitiveness in these businesses • Targeted savings are up to EUR 100 million by 2016
  • 21. © Metso Net debt and net working capital Net debt and gearing April 23, 201321 Net working capital 540 1,099 583 311 260 149 316 277 33.4 75.7 32.5 15.0 12.2 7.6 14.2 13.5 0 10 20 30 40 50 60 70 80 0 200 400 600 800 1,000 1,200 2007 2008 2009 2010 2011 Q1 2012 2012 Q1 2013 %EUR million Net debt Gearing 375 672 242 247 281 286 452 461 6.0 10.5 4.8 4.5 4.2 4.1 6.0 6.3 0 2 4 6 8 10 12 0 100 200 300 400 500 600 700 800 2007 2008 2009 2010 2011 Q1 2012 2012 Q1 2013 %EUR million Net working capital, EUR NWC, as % of net sales
  • 22. Outlook and guidance Matti Kähkönen President and CEO
  • 23. © Metso Market outlook April 23, 201323 32% of net sales 50% service intensity  Positive for capital and services  Good in capital business with volatility expected to continue. Services excellent. Mining 11% of net sales 40% service intensity  Positive in emerging markets; flat in developed markets  Satisfactory for equipment and services 11% of net sales 45% service intensity  Positive for oil & gas customers; flat in pulp & paper  Good in oil & gas; softer in pulp & paper. Services good. Construction Automation 11% of net sales 30% service intensity  Subject to the development of the bioenergy market  Satisfactory for projects and services Power 21% of net sales 50% service intensity  Demand for board and tissue growing; other grades flat or down  Weak for paper and board machines. Tissue machines and services good. 9% of net sales 40% service intensity  Positive, mainly due to packaging board and tissue  Good for rebuilds and services. Pulp mill market activity satisfactory. Paper, Board, Tissue Pulp Long-term demand Short-term demand Share of Metso net sales in January – December 2012 Uncertainties might impact the timing of large project orders
  • 24. © Metso Deliveries in 2013 Deliveries after 2013 Deliveriesin 2012 Deliveries after 2012 0 1,000 2,000 3,000 4,000 5,000 6,000 Order backlogMarch 31, 2012 Order backlogMarch 31, 2013 EUR million Order backlog* of EUR 4.5 billion April 23, 201324 * At the end of March 2013 Services orders: 30% Services orders: 33% 4,023 5,310 4,515 4,558 0 1,000 2,000 3,000 4,000 5,000 6,000 2010 2011 2012 Q1 2013 EUR million Mining and Construction Automation Pulp,Paper and Power
  • 25. © Metso We estimate that • Our EBITA before non-recurring items will be at around 2012 levels and our net sales will be at 2012 level or slightly below. The estimates for our financial performance in 2013 are based on Metso’s current market outlook, order backlog for 2013 and foreign exchange rates in March 2013. 25 Guidance for 2013 April 23, 2013
  • 26. © Metso Demerger study proceeding according to plan April 23, 201326 • On March 25, the Board decided to start a process to study the potential demerger of Metso • The plan is to form a new company out of the Pulp, Paper and Power businesses and list it on the NASDAQ OMX Helsinki stock exchange • The Mining and Construction and Automation businesses would remain in the current company • If the go-ahead is given, the process would be completed by the end of 2013 • Next planned milestones: - Signing and registration of a demerger plan - Extraordinary General Meeting in the second half of 2013
  • 27. © Metso ‘PPP’ • Stable underlying market growth driven by increasing board and tissue consumption in emerging markets, service expansion and biorefining opportunities • Global market leader – #1-3 player in all markets served • Competitive advantage in emerging markets, services offering and technologies • Share of services close to 40% and large backlog provide good revenue visibility and resilience • Stable growth, increasing profitability and asset-light operating model will support good returns on capital employed Key attributes of the planned new entities 27 ‘MAC&AUT’ • Strong underlying market growth in all served markets: mining, construction and related automation • Strong global market position - #1-3 player in core market segment • Competitive advantage in global operations, service offering and technologies • Share of services close to 50% and significant backlog provide good revenue visibility and resilience • Significant potential for growth within the value chain and service markets, both through organic expansion and M&A