Could you provide an overview of Valmet’s performance over the past year?

2023 was an exceptional year for Valmet, especially in the mining sector. Valmet experienced great commercial success across all its areas, but particularly excelled in flow control, with record sales of valves and pumps. This achievement can be attributed to our significant participation in mining projects, as well as a stronger presence in northern Chile since we recently opened a new service center.

Our success in the mining sector can be partly attributed to our involvement in desalination projects. These projects require durable equipment due to the nature of desalinated water, often containing elements that accelerate corrosion. Our clients require equipment capable of withstanding such corrosive environments and high-pressure conditions for water transport to mining sites. We develop durable equipment using specialized materials, customizing solutions to fit each process. What is Valmet's approach to digitalization and the advantages of your Customer Portal?

The goal of our digitalization journey is to make Valmet's equipment information available to customers. Previously, this information was fragmented and often only available to technical personnel. Now, we have integrated all equipment and spare parts information into a single platform known as Valmet Customer Portal. Through this platform, customers can view their Valmet assets, identify necessary spare parts, request maintenance quotations, access service reports performed by Valmet, and track the historical performance of each asset.

For valves, we provide access to the installed base, allowing customers to view all valves in their plant, and detailed information about the model, components, and recommended spare parts. We also integrate additional tools that monitor the health status and tuning of control loops. This information is combined with valve diagnostic data to provide accurate recommendations on maintenance and control improvements. Our goal is to centralize all relevant information into a single platform for easy access by customers throughout the lifecycle of Valmet-supplied equipment. What is Valmet's sustainability strategy?

We are driving research and development of more sustainable equipment, focusing on improving energy efficiency, avoiding leaks, and ensuring responsible use of materials by the client. Moreover, we engage in collaboration initiatives with other companies for material recycling, such as exploring the reuse of filtering fabrics in mining once they reach the end of their useful life. Valmet is currently investigating methods to recycle these fabrics in Finland to produce value-added products. We believe that technology plays a crucial role in mitigating climate change and global warming, and that is why we invest resources annually in our R&D operations, allowing us to continually develop new solutions to improve our customers' performance. Could you provide some insight into Valmet’s new service center in Antofagasta?

In response to the growing need for direct support service operations in northern Chile and our increasingly regular participation in the mining industry, we decided to invest in a service center in Antofagasta in 2022. This center enables customers to repair their assets instead of simply replacing them. We are evaluating process improvements where customers previously had to periodically replace new equipment, depleting older assets. We are implementing new technologies to prolong process availability and reduce waste generated by equipment changes.

Valmet recently approved an investment to maintain stock and locally assemble valves. This will allow us to reduce delivery times, improve product availability, and provide our customers with faster and more effective attention. Could you elaborate on Valmet’s participation in Sibanye-Stillwater’s Keliber lithium project?

Valmet provided a complete solution, including valves, pumps, and an integrated control system for the project. This allowed the client to obtain different key elements in the mineral processing from a single company, resulting in economies of scale. Valmet was selected for this project due to our track record in developing flow control solutions and our recognition in other industries for our control systems. What are Valmet’s goals for the next two years?

We aim to continue expanding our presence and consolidate ourselves as a significant player in the process industry market. Our goal is to establish ourselves as a key player in flow control for the mining industry and expand our business to areas where we are currently not present, such as control systems. In Chile, we want to expand the availability of our stock and increase the flexibility in valve assemblies, as well as our service presence.