FLSmidth (FLS) AGM 2026 summary

Opening remarks and agenda

• First AGM at the new headquarters, held 24 March 2026 at 4:00 p.m. CEST; 67.74% of votes and share capital represented. Agenda covered the annual report, board fees, profit distribution, remuneration, elections, auditor and board proposals.

Financial performance review

• Completed the transition to a focused mining technology and services provider following the cement business divestment.

• Organic order intake grew 4% in Services and 12% in PC&V; Product order intake declined 5%.

• Adjusted EBITA margin was 15.9%; net result was DKK 1,714 million and free cash flow DKK 640 million.

• 2026 guidance: organic revenue growth of -1% to +4%, led by Services and PC&V; adjusted EBITA margin of 15.5%-16.5%, excluding ERP rollout costs.

• The 2025 Annual Report was approved and the Board’s report on 2025 activities noted.

Board and executive committee updates

• CEO Mikko Keto departed in November 2025; Toni Laaksonen was appointed CEO in February 2026.

• Anne Louise Eberhard, Anna Kristiina Hyvönen, Lars Engström and Rune Wichmann were re-elected; Lene Skole-Sørensen was elected. Mads Nipper, Thrasyvoulos Moraitis and Christian Bruch resigned.

• Lene Skole-Sørensen was elected Chair and Rune Wichmann Vice Chair at the subsequent Board meeting.

• Board remuneration for 2025 was DKK 7.3 million, up due to more members; 2026 fees were to remain unchanged.