The 21st Shanghai International Nonwovens Exhibition(SINCE)

Figures in brackets, unless otherwise stated, refer to the comparison period, i.e. the same period of the previous year. As of January 1, 2019, Valmet has adopted IFRS 16 without restating the figures for the comparison period. January-March 2019: Profitability improved ◆Orders received decreased 6 percent to EUR 835 million (EUR 890 million). •Orders received increased in the Automation business line, remained at the previous year’s level in the Pulp and Energy, and Services business lines and decreased in the Paper business line.

•Orders received increased in Asia-Pacific and decreased in other areas.

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Net sales decreased 6 percent to EUR 686 million (EUR 732 million).

•Net sales increased in the Services and Automation business lines and decreased in the Pulp and Energy, and Paper business lines.

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Comparable earnings before interest, taxes and amortization (Comparable EBITA) were EUR 47 million (EUR 22 million), and the corresponding Comparable EBITA margin was 6.9 percent (3.0%).

•Profitability improved due to improved sales mix, higher gross profit and unchanged level of SG&A costs.

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Earnings per share were EUR 0.21 (EUR 0.05).

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Items affecting comparability amounted to EUR 2 million (EUR -3 million).

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Cash flow provided by operating activities was EUR 30 million (EUR 19 million).

Guidance for 2019 unchanged

Short-term outlook

General economic outlook

Short-term market outlook

President and CEO Pasi Laine: Profitability improved and order backlog increased to EUR 3 billion

During the quarter we announced the acquisition of GL&V, a North American-based global provider of technologies and services to the pulp and paper industry. The acquisition is an excellent strategic fit as it strengthens Valmet’s global services business, complements our technology offering and builds further our local presence and capabilities especially in North America. The combination of Valmet’s global reach and GL&V’s product and services offering for chemical pulping, stock preparation, papermaking and finishing create a good basis for new business opportunities and for serving our customers even better. The 630 experts from GL&V are a great reinforcement to the global Valmet team.”

Source: www.valmet.com