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Latest result publication:
Q1/2026

President and CEO Thomas Hinnerskov: Strategy execution progressed in the first quarter, while sales mix impacted the results  
 

“In the first quarter of 2026, Valmet continued to execute its strategy in a market environment characterized by cautious customer decision‑making and uneven demand across our customer industries. While quarter’s results were impacted by sales mix, we made tangible progress in strengthening Valmet’s long‑term competitiveness and earnings quality.

Orders received totaled close to EUR 1.1 billion. Organic order intake declined, primarily due to the timing of large capital projects. This development was expected and reflects current overcapacity in pulp and paper production globally. Our Process Performance Solutions business delivered solid organic order growth and strong margin performance, demonstrating the resilience of our lifecycle‑driven offering and the value it brings to customers even in a more uncertain environment.

Net sales increased 9% organically, supported by a higher share of revenue from large projects and smaller mill improvements. This shift in sales mix affected profitability, and our comparable EBITA margin declined to 9.2%. While projects typically carry lower margins, they are critical ways we deliver value to customers, work closer to their operations, and grow the installed base that supports long-term shareholder value.

A key positive in the quarter were the benefits from the early and decisive steps taken last year to renew Valmet’s operating model. These actions are delivering cost savings and helping us move with more focus and speed as decisions are made closer to customers. On a last‑twelve‑months basis, our comparable SG&A costs are EUR 66 million lower than in the full year 2024, reflecting the impact of these measures. In parallel, we advanced strategic plans related to our production footprint, which are expected to strengthen efficiency, flexibility, and competitiveness over the coming years.

Valmet’s strategy is anchored in improving the performance of industrial assets across their lifecycle. We help our customers operate more reliably, efficiently, and sustainably, while reducing resource use and manual effort. For Valmet, this translates into recurring lifecycle demand from our global installed base and reduced dependence on volatile capital investment cycles. The relevance of this strategy is clearly evident in the current operating environment.

Looking ahead, geopolitical and macroeconomic uncertainty further increased during the first quarter and remains elevated, and customers are likely to remain selective in their investment decisions. However, Valmet is well positioned. Our strong market positions, broad installed base, and clear strategic direction provide a solid foundation. We are confident that the actions we are taking today are building a stronger, more resilient Valmet capable of delivering sustainable value over the long term, and support the achievement of our 2030 financial targets.”