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GlobeNewswireFLSmidth & Co. Group Annual Report for 2020Company Announcement No. 2-2021, 10 February 2021 Strong cash flow and stable organic order intake in 2020 Highlights in 2020 Group organic order intake was on par with last yearGroup revenue declined 16% organicallyThe EBITA margin decreased to 4.7% Strong cash flow, reduction in net working capital and net debtSequential improvement in both order intake, revenue and EBITAGroup business improvement programme was completedOutlook for Mining remains positiveContinued reshaping of our Cement business Organically, the order intake in 2020 was on par with last year, comprising a 13% growth in Mining and a 22% decline in Cement. Including currency effects and acquisitions, order intake decreased by 5% to DKK 18,524m. FLSmidth Group CEO, Thomas Schulz, commented: “2020 was impacted operationally and financially by the pandemic, which has presented both challenges and opportunitiesfor FLSmidth. Our employees have done a tremendous job handling this crisis and adapting to the changed situation. Our financial results were negatively impacted by the rapidly deteriorating business environment which affected order intake, revenue and EBITA. Still, we secured four large orders and a book-to-bill of 113% for the year, representing an organic order intake on par with 2019.” In 2020, the…
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