Metso (MXTOF.PK) posted lower first-quarter operating profit of 119.2 million euros, compared with last year's 129.0 million euros, with quarterly earnings per share dropping to 0.48 euros, from 0.56 euros a year back. Also, profit attributable to shareholders slid year-over-year to 72 million euros, from 83 million euros.
Excluding non-recurring items, earnings before interest, tax and amortization or EBITA, amounted to 132 million euros, i.e. 8.3 percent of net sales.
Net sales for the first quarter of 2013 totaled 1.59 billion euros, down from the prior year's 1.76 bllion euros.
Looking ahead, the company estimates EBITA before non-recurring items in 2013 to be at around 2012 levels and its net sales at the 2012 level or slightly below. In addition, the board has decided to start a strategy study on a possible demerger of Metso.
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