FLSmidth 4Q Net Profit DKK329 Million, Sees Increased Order Intake 2011

   DOW JONES NEWSWIRES 

Denmark's FLSmidth A/S (FLS.KO), the world's leading supplier of machinery and services to the minerals and cement industries, Thursday said 2010 fourth-quarter net profit fell to DKK329 million from DKK408 million in the same period a year ago, and that it expects an increasing order intake of major cement projects in 2011 compared to 2010.

   MAIN FACTS: 

- The company expects full-year revenue in 2011 to amount to between DKK21 billion to DKK22 billion, and an Ebit ratio of 9%-10%.

- Analysts had expected net profit in the fourth quarter of DKK410.3 million.

- Fourth-quarter Ebit amounted to DKK536 million, down from DKK764 million in the same period a year ago.

- Fourth-quarter revenue amounted to DKK5.52 billion, down from DKK6.54 billion a year ago.

- Full year revenue amounted to DKK20.19 billion.

- The board proposes to raise the dividend to DKK9, up from DKK7 last year.

- The order backlog increased by 12% to DKK23.71 billion at the end of 2010, up from DKK 21.19 billion.

- The order intake increased 56% in 2010 to DKK20.78 billion, up from DKK13.32 billion in 2009.

- The company sees full-year 2011 cembrit revenue at DKK1.4 billion and full-year 2011 minerals revenue at DKK10 billion-DKK11 billion.

- Shares closed at DKK476 Wednesday, valuing the company at DKK25.32 billion.

-By Jens Hansegard, Dow Jones Newswires; [phone]; [e-mail]