Cargotec - Interim report (Q1 and Q3)

Cargotec's January-March 2015 interim report: improvement in all key figures

CARGOTEC CORPORATION, INTERIM REPORT, 28 APRIL 2015 AT 12 PM EEST

Cargotec's January-March 2015 interim report: improvement in all key figures

January-March 2015 in brief
  * Orders received increased 9 percent and totalled EUR 939 (863) million.
  * Order book amounted to EUR 2,469 (31 Dec 2014: 2,200) million at the end of
    the period.
  * Sales grew 18 percent to EUR 889 (751) million.
  * Operating profit excluding restructuring costs was EUR 52.3 (24.6) million,
    representing 5.9 (3.3) percent of sales.
  * Operating profit was EUR 51.3 (23.8) million, representing 5.8 (3.2) percent
    of sales.
  * Cash flow from operations before financial items and taxes totalled EUR
    51.6 (32.5) million.
  * Net income for the period amounted to EUR 36.4 (12.9) million.
  * Earnings per share was EUR 0.56 (0.20).


Outlook for 2015 unchanged
Cargotec's 2015 sales are expected to grow from 2014. Operating profit excluding
restructuring costs for 2015 is expected to improve from 2014.


Cargotec's key figures

 MEUR                      1-3/2015 1-3/2014 Change   2014
----------------------------------------------------------
 Orders received                939      863     9%  3,599

 Order book, end of period    2,469    2,111    17%  2,200

 Sales                          889      751    18%  3,358

 Operating profit*             52.3     24.6   112%  149.3

 Operating profit, %*           5.9      3.3           4.4

 Operating profit              51.3     23.8   116%  126.6

 Operating profit, %            5.8      3.2           3.8

 Income before taxes           47.5     18.3          98.2

 Cash flow from operations     51.6     32.5         204.3

 Net income for the period     36.4     12.9          72.0

 Earnings per share, EUR       0.56     0.20          1.11

 Net debt, end of period        789      824           719

 Gearing, %                    62.2     68.1          59.2

 Personnel, end of period    10,698   10,883        10,703


*excluding restructuring costs


Cargotec's President and CEO Mika Vehviläinen:
2015 began positively for Cargotec. We saw year-on-year improvement in all of
our key figures. I am extremely pleased with the way our profit improvement
measures are progressing with regard to Kalmar and Hiab. Our new product
launches together with the improving market situation are demonstrating as
growth in our order book and sales. Our profitability is improving step by step
towards our 8% EBIT margin target set for 2016.

We are also satisfied with the 9% growth seen in orders received in the first
quarter. During the first quarter, the market situation related to Kalmar and
Hiab developed favourably, while that of MacGregor weakened. We do not expect to
see rapid improvement in MacGregor's market situation, which is why we have
added a savings programme to our current programmes in order to safeguard the
profitability of this business area.

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 1:30 p.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 1:30 p.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 with access code Cargotec/952518:
FI: +358 9 2313 9201
SE: +46 8 5052 0110
UK: +44 207 1620 077
US: +1 334 323 6201

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 30 April 2015
in the following numbers: US callers +1 954 334 0342, non-US callers
+44 20 7031 4064, access code 952518.

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 shapes the cargo handling industry for the benefit of its customers and
shareholders. Cargotec's business areas MacGregor, Kalmar and Hiab are
recognised leaders in cargo and load handling solutions around the world. Their
global network is positioned close to customers and offers extensive services
that ensure a continuous, reliable and sustainable performance according to
customers' needs. Cargotec's sales in 2014 totalled approximately EUR 3.4
billion and it employs approximately 11,000 people. Cargotec's class B shares
are quoted on NASDAQ OMX Helsinki Ltd under symbol CGCBV. www.cargotec.com

[HUG#1915792]

Attachments:

Interim report, pdf.pdf