Cargotec - Interim report (Q1 and Q3)

Cargotec's January-September 2013 interim report: operating profit margin and cash flow show positive signs

CARGOTEC CORPORATION, INTERIM REPORT, 24 OCTOBER 2013 AT 12.30 PM EEST

July-September 2013 in brief

   ·     Orders received were at comparison period's level and totalled EUR 724
(719) million.

   ·     Order book amounted to EUR 2,048 (31 Dec 2012: 2,021) million at the
end of the period.

   ·     Sales fell 5 percent to EUR 752 (794) million.

   ·     Operating profit excluding restructuring costs was EUR 35.4 (39.0)
million, representing 4.7 (4.9) percent of sales.

   ·     Operating profit was EUR 31.2 (38.5) million, representing 4.2 (4.9)
percent of sales.

   ·     Cash flow from operations before financial items and taxes totalled EUR
38.2 (34.2) million.

   ·     Net income for the period amounted to EUR 19.3 (24.9) million.

   ·     Earnings per share was EUR 0.31 (0.41).



January-September 2013 in brief

   ·     Orders received were at comparison period's level and totalled EUR
2,348 (2,348) million.

   ·     Sales fell 7 percent to EUR 2,267 (2,437) million.

   ·     Operating profit excluding restructuring costs was EUR 87.9 (117.6)
million, representing 3.9 (4.8) percent of sales.

   ·     Operating profit was EUR 77.3 (117.2) million, representing 3.4 (4.8)
percent of sales.

   ·     Cash flow from operations before financial items and taxes totalled EUR
47.0 (6.4) million.

   ·     Net income for the period amounted to EUR 47.7 (80.3) million.

   ·     Earnings per share was EUR 0.77 (1.30).



Outlook for 2013 (published 15 October 2013)

The sales and operating profit excluding restructuring costs for 2013 are
expected to fall short of 2012.




Cargotec's key figures



 MEUR                       Q3/13  Q3/12 Change Q1-Q3/13 Q1-Q3/12 Change   2012
-------------------------------------------------------------------------------
 Orders received              724    719     1%    2,348    2,348     0%  3,058

 Order book, end of period  2,048  2,312   -11%    2,048    2,312   -11%  2,021

 Sales                        752    794    -5%    2,267    2,437    -7%  3,327

 Operating profit*           35.4   39.0    -9%     87.9    117.6   -25%  157.5

 Operating profit, %*         4.7    4.9             3.9      4.8           4.7

 Operating profit            31.2   38.5   -19%     77.3    117.2   -34%  131.4

 Operating profit, %          4.2    4.9             3.4      4.8           3.9

 Income before taxes         27.3   35.0            67.7    108.6         122.5

 Cash flow from operations   38.2   34.2            47.0      6.4          97.1

 Net income for the period   19.3   24.9            47.7     80.3          89.5

 Earnings per share, EUR     0.31   0.41            0.77     1.30          1.45

 Net debt, end of period      577    485             577      485           478

 Gearing, %                  48.9   39.2            48.9     39.2          39.2

 Personnel, end of period  10,216 10,550          10,216   10,550        10,294





*excluding restructuring costs





Cargotec's President and CEO Mika Vehviläinen:

Market activity continued to be positive during the third quarter and our orders
reached the comparison period level, although at MacGregor we did not reach the
previous quarter level. Our sales declined five percent, as the delivery volumes
remained lower than in the comparison period's level, mostly due to slippages at
MacGregor.



The profitability development in Kalmar and Hiab has shown positive signs during
the year. Continued project cost overruns in Kalmar and lower profitability than
expected earlier this year in MacGregor have disappointed us.



A significant number of measures are being taken to improve Cargotec's
profitability. During the last quarter of the year, we will focus on fulfilment
of deliveries and releasing working capital.



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 2:30 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 2:30 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: US callers +1 334 323 6201, non-US callers +44 20 7162 0025, access code
Cargotec/937150.



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 26 October
2013 in the following numbers: US callers +1 954 334 0342, non-US callers
+44 20 7031 4064, access code 937150.


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#1737908]

Attachments:

Interim report in pdf format.pdf