Cargotec - Financial Statement Release

Cargotec's Financial statements review 2011: Orders grew 18 percent and earnings per share doubled

CARGOTEC CORPORATION FINANCIAL STATEMENTS REVIEW  7 FEBRUARY  2012 AT 12:00 P.M.
                                                                             EET



The figures in this financial statements review are based on Cargotec
Corporation's audited 2011 Financial statements.


October-December 2011 in brief
·         Orders received grew 18 percent and totalled EUR 842 (716) million.
·         Order book amounted to EUR 2,426 (31 Dec 2010: 2,356) million at the
end of the year.
·         Sales grew 11 percent and totalled EUR 828 (747) million.
·         Operating profit was EUR 48.0 (38.5) million, representing 5.8 (5.2)
percent of sales.
·         Cash flow from operating activities before financial items and taxes
totalled EUR 88.3 (99.5) million.
·         Net income for the period amounted to EUR 34.8 (23.8) million.
·         Earnings per share was EUR 0.56 (0.39).

Year 2011 in brief
·         Orders received grew 18 percent and totalled EUR 3,233 (2,729)
million.
·         Sales grew 22 percent to EUR 3,139 (2,575) million.
·         Research and product development expenditure was EUR 60.0 (37.1)
million.
·         Operating profit was EUR 207.0 (131.4) million, representing 6.6 (5.1)
percent of sales.
·         Cash flow from operations before financial items and taxes totalled
EUR 166.3 (292.9) million.
·         Net income for the financial period amounted to EUR 149.3 (78.0)
million
·         Earnings per share was EUR 2.42 (1.21)
·         The Board of Directors proposes a dividend of EUR 0.99 per class A
share and EUR 1.00 per class B share outstanding be paid.

Outlook for 2012
Cargotec expects its 2012 sales to grow and operating profit margin to improve
compared to 2011.



Cargotec key figures



MEUR                       Q4/11 Q4/10 Change Q1-Q4/11 Q1-Q4/10 Change
-----------------------------------------------------------------------
Orders received              842   716    18%    3,233    2,729    18%

Order book, end of period  2,426 2,356     3%    2,426    2,356     3%

Sales                        828   747    11%    3,139    2,575    22%

Operating profit            48.0  38.5    25%    207.0    131.4    58%

Operating profit, %          5.8   5.2             6.6      5.1

Income before taxes         43.7  30.2           191.9    101.4

Cash flow from operations   88.3  99.5           166.3    292.9

Net income for the period   34.8  23.8           149.3     78.0

Earnings per share, EUR     0.56  0.39            2.42     1.21

Net debt, end of period      299   171             299      171

Gearing, %                  25.4  16.0            25.4     16.0

Personnel, end of period  10,928 9,954          10,928    9,954



Cargotec's President and CEO Mikael Mäkinen:
In many respects, 2011 was eventful for Cargotec. In Industrial & Terminal
segment, demand for solutions was brisk, and in the autumn we received several
large terminal project orders. We reinforced our automation expertise with the
Navis acquisition, and decided to establish a joint venture with our long-term
Chinese partner. Once again, Marine segment achieved record sales and operating
profit. Development and implementation of the company-wide ERP system and
related processes progressed according to plan. Orders, sales and operating
profit grew markedly. Although we are not fully satisfied with the development
in Industrial & Terminal, Cargotec's operating profit margin for 2011 rising to
6.6 percent shows that we are moving in the right direction. We will continue
working towards our target of 10 percent. Uncertainty in general economic trends
is impeding us from seeing ahead. At the end of the year, we announced a change
in our operating model, from the beginning of 2012, in order to further
accelerate the implementation of strategic initiatives. Prior merging of
business activities and centralisation of support operations have brought the
planned benefits to our production facilities, sourcing activities and support
functions. However, now is the time to differentiate, in order to secure the
required development possibilities for each 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 pm EET at
Cargotec's head office, Sörnäisten rantatie 23, Helsinki. The event will be held
in English. The report will be presented by President and CEO Mikael Mäkinen.
The presentation material will be available at www.cargotec.com by 1:30 pm EET.

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 6203, non-US callers +44 20 7162 0125, access code
Cargotec/909847.

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 9 February
2012 in the following numbers: US callers +1 954 334 0342, non-US callers
+44 20 7031 4064, access code 909847.

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 daughter brands, Hiab, Kalmar and MacGregor 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 3.1 billion in 2011 and it employs
approximately 11,000 people. Cargotec's class B shares are quoted on NASDAQ OMX
Helsinki under symbol CGCBV. www.cargotec.com


[HUG#1583241]

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