First publishedon www.AggBusiness.com
Metso's Board of Directors have appointed company CFO Eeva Sipilä as the quarrying and mining equipment heavyweight’s new interim CEO and president, as of 3 February 2018. Current CEO and president, Nico Delvaux, will leave his duties on 2 February. His resignation was announced on 18 December 2017. The search for a new CEO and president is under way.
Sipilä’s appointment comes after the Finnish global OEM announced that its fourth-quarter 2017 sales are expected to total €710 million, an increase of 5% from Q4 2016.
However, profitability of the Minerals segment came in weaker than expected, due to a higher than estimated share of equipment sales compared to services sales and a weak margin of the services business.
Metso's adjusted earnings before interest, tax, depreciation and amortisation (EBITA) is estimated at €64 million, corresponding to a margin of 9.1% (Q4/2016: €64 million and 9.4%).
Metso's fourth-quarter orders received are estimated at €684 million (Q4/2016: €672 million).
Metso says it will publish its fourth-quarter and full-year 2017 results on Friday, 2 February 2018, and until then will refrain from giving additional details on its results due to the ongoing silent period.