Copenhagen-based engineering group FLSmidth has launched a new long-term strategy, Accelerate ’31, setting out how it plans to grow profitably towards 2031 with new financial targets for 2029, the company announced on Thursday, 12 November.
The strategy marks the next phase of the company’s development as a focused mining supplier, with the ambition of becoming the preferred performance partner in mining by improving customer performance across the mineral-processing flowsheet and throughout the mine lifecycle.
FAKTA
- FLS launched its Accelerate ’31 strategy on 12 November 2026 in Copenhagen.
- The company targets organic revenue growth of 6-7% a year from 2026 to 2029.
- It aims for an adjusted EBITA margin of around 18% by 2029.
- Cash conversion is targeted at above 80% by 2029.
- Commercial coverage is to expand from about 500 to the world’s Top 1,000 mines.
- The strategy will be presented in full at a Capital Markets Day on 17 November 2026.
Accelerate ’31: Four Priorities for Growth
Accelerate ’31 is built around four strategic priorities. First, FLS will expand its commercial coverage from approximately 500 mines today to the world’s Top 1,000 mines. Second, it will grow its global service network to be closer to customers. Third, it will speed up customer-driven innovation focused on measurable improvements in productivity and sustainability. Fourth, it will transform its supply chain through greater standardisation and simplification to improve cost, speed and delivery.
To speed up the strategy further, FLS said it would selectively pursue bolt-on acquisitions, smaller deals that add to its existing business.
Open-pit mining operations. FLS aims to serve the world’s Top 1,000 mines under its new Accelerate ’31 strategy.
New Targets for 2029
Alongside the strategy, FLS introduced new full-year financial targets for 2029, reflecting its ambition midway through the strategy period. The targets are organic revenue growth of 6-7% a year from 2026 to 2029, an adjusted EBITA margin of around 18% by 2029, and cash conversion above 80% by 2029.
The company said the new 2029 targets do not change its financial guidance for the full year 2026. FLS will present the Accelerate ’31 strategy and the new financial targets at its Capital Markets Day on Tuesday, 17 November 2026.
Conclusion
With Accelerate ’31, the Copenhagen company is setting a clear course: more mines served, a larger service network, faster innovation and a simpler supply chain, with profitability and cash generation rising along the way. Investors will get the full detail at next week’s Capital Markets Day.
