Preliminary and unaudited results for FY2023 in line with guidance and FY2024 financial guidance is introduced. Annual cost synergies from the Mining Technologies acquisition raised to aro...
FLSMIDTH & CO A/S S/ADR (FLIDY)
NASDAQ:AMEX Investor Relations:
flsmidth.com
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Source: Yahoo! Finance
In addition, financial guidance for 2024 is introduced, which reflects FLSmidth's continued transformation as part of the strategic journey towards FY2026. In October 2022, FLSmidth raised the expected annual cost synergy target from the Mining Technologies* acquisition (ref. Company Announcement no. 17-2022) to around DKK 560m. The integration of Mining Technologies into FLSmidth is now more or less completed. Consequently, we now have a complete view of the synergies that will be fully realised in our FY2024 results and onwards. Based on a better-than-expected integration, the total annual cost synergies amount to around DKK 600m, and consequently above our own expectations. The results for the full year 2023 include realisation of around DKK 200m of the total annual cost synergies. To realise these synergies, we previously expected the total integration costs to be around DKK 800m (ref. Company Announcement no. 17-2022), of which DKK 252m were recognised in 2022. Due to the suc
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