Q1 2023 Valmet Oyj Earnings Presentation (Pre-recorded) Transcript
The first quarter of 2023 was strong for Valmet, both in terms of order intake and profitability. Orders increased EUR 1.55 billion, which is 17% higher than a year ago and sets a new record for Valmet. We were especially happy to see the demand for Valmet's Stable business continue in such a good level.
Services orders increased to EUR 577 million, which is 28% higher than a year ago and the first time when Services quarterly orders topped the EUR 500 million mark.
Automation Systems and Flow Control grew nicely as well. During the last 12 months, Valmet's Stable business order intake was over EUR 3.2 billion. The orders for Process Technologies decreased from the high comparison quarter, and Valmet's an order backlog is EUR 4.59 billion, which is a huge level.
If we then take a look at the profitability
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