FLSmidth Management

Management criteria checks 2/4

FLSmidth's CEO is Mikko Keto, appointed in Jan 2022, has a tenure of 2.83 years. total yearly compensation is DKK23.54M, comprised of 33.3% salary and 66.7% bonuses, including company stock and options. directly owns 0.016% of the company’s shares, worth €444.55K. The average tenure of the management team and the board of directors is 3.5 years and 3.8 years respectively.

Key information

Mikko Keto

Chief executive officer

DKK 23.5m

Total compensation

CEO salary percentage	33.3%
CEO tenure	2.8yrs
CEO ownership	0.02%
Management average tenure	3.5yrs
Board average tenure	3.8yrs

Recent management updates

Recent updates

CEO Compensation Analysis

How has Mikko Keto's remuneration changed compared to FLSmidth's earnings?
Date	Total Compensation	Salary	Company Earnings
Sep 30 2024	n/a	n/a	DKK 837m
Jun 30 2024	n/a	n/a	DKK 826m
Mar 31 2024	n/a	n/a	DKK 767m
Dec 31 2023	DKK 24m	DKK 8m	DKK 678m
Sep 30 2023	n/a	n/a	DKK 426m
Jun 30 2023	n/a	n/a	DKK 321m
Mar 31 2023	n/a	n/a	DKK 344m
Dec 31 2022	DKK 16m	DKK 8m	DKK 369m

Compensation vs Market: Mikko's total compensation ($USD3.29M) is above average for companies of similar size in the German market ($USD1.92M).

Compensation vs Earnings: Mikko's compensation has increased by more than 20% in the past year.

CEO

Mikko Keto (57 yo)

2.8yrs

Tenure

DKK 23,544,000

Compensation

Mr. Mikko Keto served as President of Mining Industry at FLSmidth & Co. A/S since January 2021 until January 1, 2022 and serves as Group Chief Executive Officer since January 1, 2022. Mr. Keto has been emp...

Leadership Team

Name	Position	Tenure	Compensation	Ownership
Mikko Keto	Group Chief Executive Officer	2.8yrs	DKK 23.54m	0.016% € 444.6k
Roland Andersen	Group Chief Financial Officer	4.3yrs	DKK 14.67m	0.040% € 1.1m
Mikko Tepponen	COO & Chief Digital Officer	1.3yrs	no data	no data
Jannick Denholt	Head of Investor Relations	no data	no data	no data
Annette Terndrup	Group Legal Counsel	11.8yrs	DKK 1.29m	0.0045% € 127.4k
Cori Petersen	Chief People & Sustainability Officer	6.6yrs	no data	0.0016% € 46.1k
Deon de Kock	President	no data	no data	no data
Patrick Turner	President of Pumps	less than a year	no data	no data
Claudio Bernal	President of Region South America	4.8yrs	no data	no data
Tamer Eid	President of Region Australia	4.2yrs	no data	no data
Marnus Fick	President of Region North America	2.8yrs	no data	no data
Joshua Meyer	President of Mining & Service Business Line	2.8yrs	no data	no data

3.5yrs

Average Tenure

55yo

Average Age

Experienced Management: F6O1's management team is considered experienced (3.5 years average tenure).

Board Members

Name	Position	Tenure	Compensation	Ownership
Tom Knutzen	Independent Chairman	12.7yrs	DKK 1.40m	0.088% € 2.5m
Thrasyvoulos Moraitis	Independent Director	5.7yrs	DKK 977.00k	0.0018% € 50.1k
Mads Nipper	Independent Vice Chairman	2.7yrs	DKK 900.00k	0.0022% € 61.2k
Anna Hyvonen	Director	less than a year	no data	no data
Daniel Reimann	Independent Director	1.7yrs	DKK 619.00k	no data
Anne Eberhard	Independent Director	7.7yrs	DKK 675.00k	0.0035% € 100.1k
Claus Østergaard	Employee-Elected Member	8.8yrs	DKK 450.00k	0.00075% € 21.3k
Leif Gundtoft	Employee-Elected Member	3.8yrs	DKK 450.00k	0.00023% € 6.5k
Carsten Hansen	Employee-Elected Member	3.8yrs	DKK 575.00k	0.000090% € 2.6k

3.8yrs

Average Tenure

61yo

Average Age

Experienced Board: F6O1's board of directors are considered experienced (3.8 years average tenure).

FLSmidth Management

Management criteria checks 2/4

Key information

Recent management updates

FLSmidth & Co. A/S Approves Board Changes

FLSmidth & Co. A/S, Annual General Meeting, Apr 10, 2024

FLSmidth & Co. A/S Announces Board Changes

FLSmidth Announces Management Changes

Recent updates

Third quarter 2024 earnings released: EPS: kr.5.00 (vs kr.4.84 in 3Q 2023)

FLSmidth & Co. A/S to Report Q3, 2025 Results on Nov 12, 2025

FLSmidth Launches Its Global Global PerformanceIQ Hub

FLSmidth & Co. A/S (CPSE:FLS) signed an agreement to acquire Tipco Tudeshki Industrial Process Control GmbH.

Second quarter 2024 earnings released: EPS: kr.3.20 (vs kr.2.09 in 2Q 2023)

FLSmidth & Co. A/S Lowers Consolidated Earnings Guidance for the Fiscal Year 2024

First quarter 2024 earnings released: EPS: kr.3.40 (vs kr.1.83 in 1Q 2023)

FLSmidth & Co. A/S Provides Consolidated Revenue Guidance for the Fiscal Year 2024

FLSmidth & Co. A/S Approves Board Changes

Upcoming dividend of kr.4.00 per share

FLSmidth & Co. A/S Proposes Dividend for 2023

FLSmidth & Co. A/S (CPSE:FLS) acquired Farnell-Thompson Applied Technologies Inc.

Dividend of kr.4.00 announced

New minor risk - Earnings quality

Full year 2023 earnings released: EPS: kr.12.01 (vs kr.6.50 in FY 2022)

Flsmidth & Co. A/S Provides Consolidated Earnings Guidance for the Year 2024

Solix Group AB agreed to acquire MAAG gears and drives business from FLSmidth & Co. A/S (CPSE:FLS).

FLSmidth & Co. A/S to Report Q3, 2024 Results on Nov 12, 2024

Third quarter 2023 earnings released: EPS: kr.4.84 (vs kr.2.97 in 3Q 2022)

FLSmidth & Co. A/S Updates Earnings Guidance for the Full Fiscal Year 2023

FLSmidth & Co. A/S, Annual General Meeting, Apr 10, 2024

FLSmidth & Co. A/S announced that it expects to receive DKK 693 million in funding from Altor Equity Partners AB

Second quarter 2023 earnings released: EPS: kr.2.09 (vs kr.2.55 in 2Q 2022)

Flsmidth & Co. A/S Reaffirms Earnings Guidance for the Full Fiscal Year 2023

Micronics Engineered Filtration Group, Inc. acquired Advanced Filtration Technologies business from FLSmidth & Co. A/S (CPSE:FLS).

Koch Solutions Gmbh signed an Asset Purchase & Transfer Agreement to acquire non-core activities material handling technology assets of FLSmidth.

FLSmidth & Co. A/S (CPSE:FLS) acquired Morse Marine Bearings.

First quarter 2023 earnings released: EPS: kr.1.83 (vs kr.2.30 in 1Q 2022)

Flsmidth & Co. A/S Maintains Earnings Guidance for the Full Fiscal Year 2023

Upcoming dividend of kr.3.00 per share at 1.2% yield

Flsmidth & Co. A/S Provides Consolidated Revenue Guidance for the Full Year 2023

Investor sentiment improved over the past week

FLSmidth & Co. A/S to Report First Half, 2023 Results on Aug 15, 2023

FLSmidth & Co. A/S Announces Revenue Guidance for the Year 2022

FLSmidth & Co. A/S (CPSE:FLS) completed the acquisition of mining business from thyssenkrupp Industrial Solutions AG.

Second quarter 2022 earnings released: EPS: kr.2.55 (vs kr.1.17 in 2Q 2021)

FLSmidth & Co. A/S Revises Earnings Guidance for the Year 2022

FLSmidth & Co. A/S Announces Board Changes

Upcoming dividend of kr.3.00 per share

Full year 2021 earnings: Revenues and EPS in line with analyst expectations

FLSmidth & Co. A/S Provides Earnings Guidance for the Year 2022

FLSmidth & Co. A/S has completed a Follow-on Equity Offering in the amount of DKK 1.4592 billion.

Second quarter 2021 earnings released: EPS kr.1.17 (vs kr.0.18 loss in 2Q 2020)

FLSmidth & Co. A/S Revises Earnings Guidance for the Year 2021

Investor sentiment improved over the past week

First quarter 2021 earnings released: EPS kr.1.06 (vs kr.2.06 in 1Q 2020)

FLSmidth & Co. A/S Provides Earnings Guidance for the Year of 2021

Upcoming Dividend of kr.2.00 Per Share

Osisko Mining Orders Milling Equipment for Windfall from Flsmidth

New 90-day high: €33.23

Full year 2020 earnings released: EPS kr.4.61 (vs kr.15.94 in FY 2019)

Revenue beats expectations

Çimko Çimento Chooses FLSmidth as Supplier for Grey-To-White Cement Conversion Project

FLSmidth in Talks to Buy Thyssenkrupp's Mining Unit

New 90-day high: €32.38

REEL SAS entered into a definitive agreement to acquired Flsmidth Hamburg Gmbh from FLSmidth & Co. A/S (CPSE:FLS)

Simatek A/S entered into an agreement to acquire Filter Technology Business of FLSmidth & Co. A/S (CPSE:FLS).

New 90-day high: €29.30

FLSmidth on the Way to Deliver 86% Fuel Substitution for Bursa Çimento

TITAN Cement Group Announces New Two and Half Year Service Agreement with Flsmidth

New 90-day high: €27.62

European Union body grants EUR 5.4 million to FLSmidth-led mining efficiency project

FLSmidth Announces Management Changes

Two FLSmidth Hotdisc’s to Replace Coal At Sungshin Cement

Revenue beats expectations

FLsmidth & Co. A/S Revised Earnings Guidance for the Year 2020

New 90-day low: €22.50

Flsmidth Receives an Order for its Bulkexpert Digital Solution from A Customer in Brazil

FLSmidth & Co. A/S (CPSE:FLS) signed a definitive agreement to acquire KnowledgeScape.

New 90-day low: €23.31

FLSmidth & Co. A/S (CPSE:FLS) acquired Mill-Ore Industries Inc. DKK 41 million.