Cargotec - Interim report (Q1 and Q3)

Cargotec's January-March 2011 interim report: Order intake continued strong and sales grew 37 percent

CARGOTEC CORPORATION, INTERIM REPORT, 28 APRIL 2011 AT 8:00 AM EEST



First quarter in brief
·         Orders received grew 37 percent and totalled EUR 819 (598) million.
·         Order book amounted to EUR 2,373 (31 Dec 2010: 2,356) million at the
end of the period.
·         Sales grew 37 percent and totalled EUR 763 (555) million.
·         Operating profit was EUR 50.6 (13.5) million, representing 6.6 (2.4)
percent of sales.
·         Cash flow from operating activities before financial items and taxes
totalled EUR 36.2 (46.5) million.
·         Net income for the period amounted to EUR 36.2 (9.8) million.
·         Earnings per share was EUR 0.59 (0.13).

Outlook
Cargotec specifies its 2011 guidance:

Cargotec's 2011 sales are estimated to grow approximately 20 percent. Healthy
first quarter order intake both in Industrial & Terminal and Marine segments
together with the recovery in the market situation supports a more positive
growth expectation. Sales growth and significant efficiency improvement measures
executed during the past years, support profitability, but there is cost
pressure on the markets. Cargotec's 2011 operating profit margin is estimated to
be approximately 7 percent.

In February, Cargotec's 2011 sales were estimated to grow over 10 percent and
2011 operating margin was estimated to continue to improve.

Cargotec key figures
                                           Q1 11 Q1 10 Change  2010
-------------------------------------------------------------------
Orders received, MEUR                        819   598   37 % 2,729

Order book, MEUR                           2,373 2,239    6 % 2,356

Sales, MEUR                                  763   555   37 % 2,575

Operating profit, MEUR                      50.6  13.5  275 % 131.4

Operating profit, %                          6.6   2.4          5.1

Income before taxes, MEUR                   46.4   6.8        101.4

Cash flow from operating activities, MEUR   36.2  46.5        292.9

Net income for the period, MEUR             36.2   9.8         78.0

Earnings per share, EUR                     0.59  0.13         1.21

Net debt, MEUR                               335   336          171

Gearing, %                                  31.5  37.1         16.0

Personnel, end of period                  10,433 9,509        9,954


Cargotec's President and CEO Mikael Mäkinen:"Market activity for cargo handling solutions has despite the natural
catastrophes afflicting the world, strengthened to the extent that we raise our
estimated sales growth for 2011 to approximately 20 percent. Our strong order
intake for the first quarter confirms our success in the markets. The
profitability improvement in Industrial & Terminal compared to the previous
quarter is important for us, even if sales were slightly lower. After the
regulatory approvals of the Navis acquisition at the end of March, the
development of our container terminal segment was started," states Mikael
Mäkinen, President and CEO.

New disclosure procedure
Cargotec Corporation is now adopting the new disclosure procedure enabled by
Standard 5.2b, published by the Finnish Financial Supervision Authority. This is
a summary of Cargotec's January-March 2011 interim report. A complete report
with tables is attached as a pdf-file to this release, and is also available on
Cargotec's website www.cargotec.com/investors.

Press conference for analysts and media
A press conference for analysts and media will be combined with a live
international telephone conference and arranged on the publishing day at 9:30 am
EEST at Cargotec's head office, Sörnäisten rantatie 23, Helsinki. The event will
be held in English. The interim report will be presented by President and CEO
Mikael Mäkinen. The presentation material will be available at www.cargotec.com
by 9:30 am 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/891228.

The event can also be viewed as a live webcast at www.cargotec.com. 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 for two days until midnight on
30 April 2011, in the following numbers: US callers +1 954 334 0342, non-US
callers +44 20 7031 4064, access code 891228.

For further information, please contact:
Eeva Sipilä, CFO, tel. +358 20 777 4104
Paula Liimatta, IR Manager, 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 2.6 billion in 2010 and it employs
approximately 10,500 people. Cargotec's class B shares are quoted on NASDAQ OMX
Helsinki under symbol CGCBV. www.cargotec.com





[HUG#1509963]

Attachments:

Interim report.pdf