Cargotec - Interim report (Q1 and Q3)

Cargotec's January-September 2014 interim report: Profit improvement progressed in Hiab and Kalmar, reorganisation launched in MacGregor

CARGOTEC CORPORATION, INTERIM REPORT, 23 OCTOBER 2014 AT NOON EEST

Cargotec's January-September 2014 interim report: Profit improvement progressed
in Hiab and Kalmar, reorganisation launched in MacGregor
July-September 2014 in brief

  * Orders received increased 15 percent and totalled EUR 829 (724) million.
  * Order book amounted to EUR 2,327 (31 Dec 2013: 1,980) million at the end of
    the period.
  * Sales grew 12 percent to EUR 840 (752) million.
  * Operating profit excluding restructuring costs was EUR 48.4 (35.4) million,
    representing 5.8 (4.7) percent of sales.
  * Operating profit was EUR 45.8 (31.2) million, representing 5.4 (4.2) percent
    of sales.
  * Cash flow from operations before financial items and taxes totalled EUR
    63.4 (38.2) million.
  * Net income for the period amounted to EUR 27.8 (19.3) million.
  * Earnings per share was EUR 0.43 (0.31).

January-September 2014 in brief
  * Orders received increased 14 percent and totalled EUR 2,685 (2,348) million.
  * Sales grew 6 percent to EUR 2,395 (2,267) million.
  * Operating profit excluding restructuring costs was EUR 77.8 (87.9) million,
    representing 3.2 (3.9) percent of sales.
  * Operating profit was EUR 63.6 (77.3) million, representing 2.7 (3.4) percent
    of sales.
  * Cash flow from operations before financial items and taxes totalled EUR
    120.3 (47.0) million.
  * Net income for the period amounted to EUR 31.4 (47.7) million.
  * Earnings per share was EUR 0.48 (0.77).


Outlook for 2014 unchanged
Cargotec's 2014 sales are expected to grow from 2013. Operating profit excluding
restructuring costs for 2014 is expected to improve from 2013.


Cargotec's key figures

 MEUR                       Q3/14  Q3/13 Change Q1-Q3/14 Q1-Q3/13 Change   2013
-------------------------------------------------------------------------------
 Orders received              829    724    15%    2,685    2,348    14%  3,307

 Order book, end of period  2,327  2,048    14%    2,327    2,048    14%  1,980

 Sales                        840    752    12%    2,395    2,267     6%  3,181

 Operating profit
 excluding restructuring
 costs                       48.4   35.4    37%     77.8     87.9   -12%  126.5

 Operating profit
 excluding restructuring
 costs, %                     5.8    4.7             3.2      3.9           4.0

 Operating profit/loss       45.8   31.2    47%     63.6     77.3   -18%   92.5

 Operating profit/loss, %     5.4    4.2             2.7      3.4           2.9

 Income before taxes         39.3   27.3            44.7     67.7          78.7

 Cash flow from operations   63.4   38.2           120.3     47.0         180.9

 Net income for the period   27.8   19.3            31.4     47.7          55.4

 Earnings per share, EUR     0.43   0.31            0.48     0.77          0.89

 Net debt, end of period      835    577             835      577           578

 Gearing, %                  68.3   48.9            68.3     48.9          46.7

 Personnel, end of period  10,829 10,216          10,829   10,216        10,610


Cargotec's President and CEO Mika Vehviläinen:
Our profit improvement programme progressed as planned in Hiab and Kalmar during
the third quarter, and its effects are already being seen in both businesses'
operating profit figures. We are continuing our determined efforts to complete
this programme. Hiab and Kalmar's market environment remained unchanged,
however, uncertainty has increased. Third-quarter orders for both business areas
were in line with the comparison period.

Uncertainty increased in MacGregor's market during the autumn. In order to
safeguard improved profitability in such a market, we have decided to launch
measures in several areas, such as sales, services and procurement, and have
established a more customer-oriented organisation. The development of this
business area will require the same determined efforts that are already bearing
fruit at Hiab and Kalmar.

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 2:00 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 2:00 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/948460:
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 25 October
2014 in the following numbers: US callers +1 954 334 0342, non-US callers
+44 20 7031 4064, access code 948460.


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 totalled approximately EUR 3.2 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#1865108]

Attachments:

Interim Report Q3, pdf.pdf