Metso (METSO) Q1 2026 earnings summary

Executive summary

• Orders received grew 6% year-on-year to EUR 1.555 billion, with organic constant currency growth at 10%, driven by strong performance in Aggregates and Minerals.

• Sales increased 3% year-on-year to EUR 1.252 billion, or 5% in organic constant currencies.

• Adjusted EBITA rose 5% to EUR 203 million, with a margin of 16.2%.

• Strategy execution advanced with investments in a new rubber plant in China, acquisition of MRA Automation, and partnership with Loesche for dry grinding technology.

• Divestments of Ferrous and Loading & Hauling businesses completed; ERP renewal project finalized.

Financial highlights

• Book-to-bill ratio improved to 1.24 from 1.21 year-on-year.

• Operating cash flow for Q1 was EUR 78 million; rolling 12-month operating cash flow at EUR 856 million.

• EBITDA margin increased by 0.3 points to 16.2%; gross margin up by two points to 34.3%.

• EPS remained unchanged at EUR 0.14; net profit from continuing operations was EUR 113 million.

• Net debt to EBITDA stable at 1.2x; Baa2 credit rating with positive outlook from Moody’s.

Outlook and guidance

• Outlook unchanged; market activity in minerals and aggregates expected to remain stable for the next six months.

• Geopolitical turbulence and commodity price volatility identified as potential risks.

• Healthy cash flow expected throughout 2026.