Cargotec - Interim report (Q1 and Q3)

Cargotec's January-March 2013 interim report: Orders grew. Low sales weakened operating profit.

CARGOTEC CORPORATION, INTERIM REPORT, 26 APRIL 2013 AT 8.30 AM EEST

January-March 2013 in brief
  * Orders received grew 7 percent and totalled EUR 791 (737) million.
  * Order book amounted to EUR 2,203 (31 Dec 2012: 2,021) million at the end of
    the period.
  * Sales fell 14 percent to EUR 679 (793) million.
  * Operating profit excluding restructuring costs was EUR 15.0 (37.5) million,
    representing 2.2 (4.7) percent of sales.
  * Operating profit was EUR 13.1 (37.5) million, representing 1.9 (4.7) percent
    of sales.
  * Cash flow from operations before financial items and taxes totalled EUR
    21.2 (-2.2) million.
  * Net income for the period amounted to EUR 6.4 (26.2) million.
  * Earnings per share was EUR 0.10 (0.42).


Outlook for 2013 unchanged
Cargotec's sales are expected to be slightly below 2012 and operating profit
excluding restructuring costs to be at 2012 level. Positive impact of efficiency
improvement measures implemented will be weighted on the second half of the
year.


Cargotec's key figures

 MEUR                       Q1/13  Q1/12 Change   2012
------------------------------------------------------
 Orders received              791    737     7%  3,058

 Order book, end of period  2,203  2,342    -6%  2,021

 Sales                        679    793   -14%  3,327

 Operating profit*           15.0   37.5   -60%  157.5

 Operating profit, %*         2.2    4.7           4.7

 Operating profit            13.1   37.5   -65%  131.4

 Operating profit, %          1.9    4.7           3.9

 Income before taxes         10.8   34.7         122.5

 Cash flow from operations   21.2   -2.2          97.1

 Net income for the period    6.4   26.2          89.5

 Earnings per share, EUR     0.10   0.42          1.45

 Net debt, end of period      506    389           478

 Gearing, %                  42.0   34.1          39.2

 Personnel, end of period  10,015 10,486        10,294


* excluding restructuring costs


Cargotec's President and CEO Mika Vehviläinen:
In terms of order book development, the markets began the year on a positive
note: we are satisfied with our growth in orders of seven percent. In MacGregor,
with the merchant shipping markets remaining subdued, orders chiefly comprised
marine cargo handling equipment for RoRo vessels and offshore support vessels.
Orders also developed favourably for Kalmar, but those for Hiab fell somewhat
compared to the rather high figure recorded for the comparison period in the
previous year.

Sales fell by 14 percent, mainly due to low delivery volumes by MacGregor, as
customers delayed their receipt of deliveries. Low delivery volumes reduced
MacGregor's profitability. However, we foresee higher sales in the forthcoming
quarters. At Kalmar and Hiab, much work remains to be done before we can achieve
a satisfactory profit level. In general, we cannot rest content with our profit
level for the first quarter; we continue determined measures aimed at improving
our profitability.


Press conference for analysts and media
A press conference for analysts and media, combined with a live international
telephone conference, will be arranged on the publishing day at 10:00 a.m. EEST
at Cargotec's head office, Porkkalankatu 5, Helsinki. The event will be held in
English. The report will be presented by President and CEO Mika Vehviläinen and
Executive Vice President, CFO Eeva Sipilä. The presentation material will be
available at www.cargotec.com by 10:00 a.m. EEST.

The telephone conference, during which questions may be presented, can be
accessed using the following numbers ten minutes before the beginning of the
event: US callers +1 334 323 6201, non-US callers +44 20 7162 0025, access code
Cargotec/930661.

The event can also be viewed as a live webcast at www.cargotec.com. An on-demand
version of the conference will be published at Cargotec's website later during
the day.

A replay of the conference call will be available until midnight 28 April 2013
in the following numbers: US callers +1 954 334 0342, non-US callers
+44 20 7031 4064, access code 930661.

For further information, please contact:
Eeva Sipilä, Executive Vice President and CFO, tel. +358 20 777 4104
Paula Liimatta, Director, Investor Relations, tel. +358 20 777 4084


Cargotec improves the efficiency of cargo flows on land and at sea - wherever
cargo is on the move. Cargotec's brands MacGregor, Kalmar and Hiab are
recognised leaders in cargo and load handling solutions around the world.
Cargotec's global network is positioned close to customers and offers extensive
services that ensure the continuous, reliable and sustainable performance of
equipment. Cargotec's sales totalled EUR 3.3 billion in 2012 and it employs
approximately 10,000 people. Cargotec's class B shares are quoted on NASDAQ OMX
Helsinki under symbol CGCBV. www.cargotec.com


[HUG#1696682]

Attachments:

Interim report, pdf.pdf