Finnish mining equipment maker Metso Outotec has cited strong demand for its products and services as driving a 31% increase in orders last year to a value of €5.4 billion (US$5.9 billion).
The company said in its annual report for 2021 that the growth was led by an almost 50% rise in equipment orders across its main three segments - a 20% rise in mineral equipment sales to €3.1 billion, a 108% rise in metals to €919 million, and a 24% increase in aggregate orders to €1.3 billion.
"We delivered very strong results in 2021 in all our strategic key areas," said Metso Outotec president and CEO, Pekka Vauramo.
"Our financial performance improved significantly, we exceeded the integration synergy targets, progressed in building our internal culture with improving engagement among personnel and, specifically, took big leaps in advancing our sustainability ambition".
The company noted that in terms of significant new innovation and developments, one example was its new metallurgical digital twin. It is a cloud-based application with IoT connectivity that provides customer operations with support for informed decisions to reduce carbon emissions and improve safety and operational profitability.
Inside this growth, increased orders in its ESG-focused Planet Positive range, which includes products from across the segments, also grew increased 9% to €4.2 billion. Adjusted EBITA increased to €547 million from €448 million in 2020, and adjusted EBITA margin improved to 12.9%.
"More efficient and sustainable solutions in minerals processing are essential, as our customers must satisfy the growing demand for minerals while battling against reducing ore grades and tighter sustainability requirements," added the CEO.