Valmet slumps as Q1 orders, net sales, adjusted EBITA miss estimates
** Shares in Valmet VALMT.HE fall 3.4% after the Finnish engineering company posted its Q1 print below market expectations
** Valmet's first-quarter orders decreased 32% to 1,050 million euros ($1.12 billion) from a year earlier, and fell short of the IBES estimate of 1,261 million euros
** Its net sales decreased 8% yoy to 1,212 million euros in the quarter, while its Q1 comparable EBITA was 121 million euros, below the IBES estimate of 127 million euros
** Valmet estimates the short-term market outlook for pulp has decreased to weak and for board and paper to weak/satisfactory (both previously satisfactory)
** It also estimates that the short-term market outlook for services has increased to good (previously good/satisfactory)
** Valmet is among bottom performers of the pan-European STOXX 600 .STOXX index in today's session
($1 = 0.9359 euros)
Reporting by Elviira Luoma
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