Figures in brackets refer to the corresponding period in 2024, unless otherwise stated. Comparative income statement, orders received and order backlog figures for the Group and Minerals segment have been restated following the reclassification of the Metals & Chemical Processing business as part of continuing operations since July 1, 2025.

Third-quarter 2025 in brief

• Overall market activity remained at the previous quarter's level
• Orders received increased 2% to EUR 1,264 million (EUR 1,237 million); Aggregates +8% and Minerals +1%
• Sales grew 10% to EUR 1,328 million (EUR 1,211 million); Aggregates +9% and Minerals +10%
• Adjusted EBITA was EUR 222 million, or 16.7% of sales (EUR 204 million, or 16.8%)
• Operating profit was EUR 205 million, or 15.5% of sales (EUR 185 million, or 15.3%)
• Cash flow from operations was EUR 266 million (EUR -19 million)
• New strategy and financial targets were published in September

January-September 2025 in brief

• Orders received increased 4% to EUR 3,970 million (EUR 3,811 million)
• Sales grew 2% to EUR 3,797 million (EUR 3,725 million)
• Adjusted EBITA was EUR 597 million, or 15.7% of sales (EUR 620 million, or 16.6%)
• Operating profit was EUR 551 million, or 14.5% of sales (EUR 577 million, or 15.5%)
• For continuing operations, earnings per share were EUR 0.44 (EUR 0.48). Earnings per share were EUR 0.39 (EUR 0.21)
• Cash flow from operations was EUR 609 million (EUR 290 million)

President and CEO Sami Takaluoma:

Customer activity remained robust in the third quarter, continuing the positive momentum established earlier in the year. In our Minerals segment, customers advanced their investment projects, with decision-making for small- and medium-sized initiatives holding steady at a healthy level. While larger investments are progressing, their timing remains subject to various external factors and uncertainties. Nevertheless, we are encouraged by the ongoing development of copper- and gold-related projects and anticipate further opportunities in these areas. Metal prices have stayed favorable, supporting both new project activity and sustaining strong demand in our aftermarket business.

In the Aggregates segment, normal seasonal patterns led to a decline in demand compared to the previous quarter. However, demand remained higher year-on-year in most of our main markets. Given that the US is our largest market in Aggregates, we continue to closely monitor the tariff situation and its potential negative impact on customer activity.

Our orders received increased by 2 percent, or 7 percent in constant currencies, in the third quarter compared to the same period last year. Orders in the Aggregates segment grew by 8 percent, and in the Minerals segment by 1 percent. While exchange rate fluctuations had a negative impact, underlying growth was solid across the board. In the Minerals segment, aftermarket and small- to mid-sized equipment orders were particularly strong, offsetting the absence of a single large order as seen in the comparison period. Order growth in Aggregates was positively impacted by acquisitions completed at the end of last year, as well as a recovery in European markets.

Group sales grew by 10 percent, or 14 percent in constant currencies, with both segments contributing evenly. Thanks to sales growth and operational efficiency, our adjusted EBITA rose to EUR 222 million, representing 16.7 percent of sales. Both segments delivered solid results and profitability, and it was especially positive to see operating cash flow strengthen to EUR 266 million.

In September, we launched our new `We go beyond.' strategy, which places customers at the heart of everything we do and unlocks Metso's full potential for growth and profitability. By focusing on customer experience, sustainability and safety leadership, and financial excellence, we are setting new benchmarks for our industry. In Aggregates, we are reinforcing our leadership in aftermarket and recycling, while in Minerals, we are driving growth in energy transition minerals through technology and customer closeness. Our new financial targets-covering growth, profitability, financial strength, and dividends-are designed to drive sustainable, long-term shareholder value. The new strategy and financial targets were presented and discussed during our well-attended Capital Markets Day held in early October.

Thanks to our strong quarterly results, a new strategy focused on growth and profitability, and record-high employee satisfaction, I am confident that Metso is stronger than ever-ready to go beyond and achieve its ambition of becoming the industry benchmark.

Market outlook

Metso expects that market activity in both Minerals and Aggregates will remain at the current level. Tariff-related turbulence could potentially affect global economic growth and market activity.

In its previously published outlook, Metso expected market activity in both Minerals and Aggregates to remain at the current level.

According to the company's disclosure policy, Metso's market outlook describes the expected sequential development of market activity, adjusting for seasonality, during the following six-month period using three categories: improve, remain at the current level, or decline.

Key figures

* Comparative figures for 2024 have been restated. More information available on note 10. Discontinued operations.

Audiocast and conference call details  

President and CEO Sami Takaluoma will present the results in an audiocast and a conference call for analysts and investors today at 1:00 p.m. EEST. 

The audiocast can be followedat the company's website. A recording and a transcript will be available on the same webpage after the event has finished. 

The teleconference can be accessed by registering at the link below.

https://events.inderes.com/metso/q3-2025/dial-in

The complete Interim Report is available as an attachment to this release. 

Further information, please contact:  
Juha Rouhiainen, Vice President, Investor Relations, Metso Corporation, tel. +358 20 484 3253, email: juha.rouhiainen(a)metso.com  

Distribution:  

Nasdaq Helsinki Ltd 

Main media 

www.metso.com

Metso is a frontrunner in sustainable technologies, end-to-end solutions and services for the aggregates, minerals processing and metals refining industries globally. We improve our customers' energy and water efficiency, increase their productivity, and reduce environmental risks with our product and service expertise. We are the partner for positive change.

Metso is headquartered in Espoo, Finland. At the end of 2024 Metso had close to 17,000 employees in around 50 countries, and sales in 2024 were about EUR 4.9 billion. Metso is listed on the Nasdaq Helsinki. metso.com