Reports and presentations

President and CEO Thomas Hinnerskov: Navigating challenges and celebrating successes in 2024
 

"The year 2024 was marked by multiple achievements and key events for Valmet. The main highlights were the successful launch of Valmet DNAe, our next-generation industrial automation system, and the landmark order to supply the world’s largest single-phase pulp mill project, valued at over a billion euros, to Arauco in Brazil. In terms of financial results, we were pleased to see Valmet’s orders received increase to a new record with a mix of roughly 60 percent stable business and 40 percent capital business.  A strong order backlog of close to EUR 4.5 billion gives us a solid starting point going into 2025.

Despite the increase in orders received, Valmet’s net sales and Comparable EBITA did not grow in 2024 and we saw a clear decrease both in revenues and profitability in the Process Technologies segment. Going forward, we need to make sure we have an efficient operation that will perform also in the challenging market.

Looking at the fourth quarter, the big order from Arauco meant that we set a record for quarterly order intake for Valmet. I was pleased to see orders growing strongly in all our three segments. When looking at Comparable EBITA, I would like to highlight the strong performance of Services, which ensured a strong finish for the year for Valmet. 

Towards the end of the year, we have initiated work to renew our strategy with the aim of defining our future growth areas, accelerating growth, and simplifying our ways of working. I’m excited about this and believe the changes we are planning will enable us to be faster and more focused as an organization. Our legacy, spanning more than 225 years, provides a solid foundation for the next chapter in our story."