Cargotec - Financial Statement Release

Cargotec's financial statements review 2012: Challenging year behind, new operating model to improve profitability and cash flow

CARGOTEC CORPORATION, FINANCIAL STATEMENTS REVIEW, 12 FEBRUARY 2013 AT 8.30 A.M.
(EET)

The figures in this financial statements review are based on Cargotec
Corporation's audited 2012 Financial statements.

October-December 2012 in brief
  * Orders received decreased 16 percent and totalled EUR 710 (842) million.
  * Order book amounted to EUR 2,021 (31 Dec 2011: 2,426) million at the end of
    the period.
  * Sales grew 7 percent to EUR 890 (828) million.
  * Operating profit excluding restructuring costs was EUR 39.5 (48.0) million,
    representing 4.4 (5.8) percent of sales.
  * Operating profit was EUR 13.8 (48.0) million, representing 1.5 (5.8) percent
    of sales.
  * Cash flow from operations before financial items and taxes totalled EUR
    90.6 (88.3) million.
  * Net income for the period amounted to EUR 8.7 (34.8) million.
  * Earnings per share was EUR 0.14 (0.56).

January-December 2012 in brief
  * Orders received totalled EUR 3,058 (3,233) million.
  * Sales grew 6 percent to EUR 3,327 (3,139) million.
  * Operating profit excluding restructuring costs was EUR 157.2 (207.0)
    million, representing 4.7 (6.6) percent of sales.
  * Operating profit was EUR 131.0 (207.0) million, representing 3.9 (6.6)
    percent of sales.
  * Cash flow from operations before financial items and taxes totalled EUR
    97.1 (166.3) million.
  * Net income for the financial period amounted to EUR 89.2 (149.3) million.
  * Earnings per share was EUR 1.45 (2.42).
  * The Board of Directors proposes a dividend of EUR 0.71 per class A share and
    EUR 0.72 per class B share outstanding be paid.


Outlook for 2013
Cargotec's sales are expected to be slightly below 2012 and operating profit
excluding restructuring costs to be at 2012 level. Positive impact of efficiency
improvement measures implemented will be weighted on the second half of the
year.


Cargotec's key figures

 MEUR                       Q4/12  Q4/11 Change Q1-Q4/12 Q1-Q4/11 Change
------------------------------------------------------------------------
 Orders received              710    842   -16%    3,058    3,233    -5%

 Order book, end of period  2,021  2,426   -17%    2,021    2,426   -17%

 Sales                        890    828     7%    3,327    3,139     6%

 Operating profit*           39.5   48.0   -18%    157.2    207.0   -24%

 Operating profit, %*         4.4    5.8             4.7      6.6

 Operating profit            13.8   48.0   -71%    131.0    207.0   -37%

 Operating profit, %          1.5    5.8             3.9      6.6

 Income before taxes         13.5   43.7           122.2    191.9

 Cash flow from operations   90.6   88.3            97.1    166.3

 Net income for the period    8.7   34.8            89.2    149.3

 Earnings per share, EUR     0.14   0.56            1.45     2.42

 Net debt, end of period      478    299             478      299

 Gearing, %                  38.8   25.4            38.8     25.4

 Personnel, end of period  10,294 10,928          10,294   10,928


* excluding restructuring costs


Cargotec's interim President and CEO Tapio Hakakari:
In 2012, we sought to improve profitability and cash flow.  However, we did not
achieve all our targets. The unavoidable consequence of this was employee
cooperation negotiations. Unfortunately, as a result we were forced to let go of
some employees. In addition, we launched a new operating model based on
independent businesses. These changes are aimed at achieving streamlined
operations, profitable growth and greater market share. We believe that we are
in a strong position to turn the situation around, led by our new President and
CEO as of 1 March 2013, Mika Vehviläinen.


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 10:00 a.m. EET
at Cargotec's head office, Porkkalankatu 5, Helsinki. The event will be held in
English. The report will be presented by Executive Vice President, CFO Eeva
Sipilä. The presentation material will be available at www.cargotec.com by
10:00 a.m. 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 6201, non-US callers +44 20 7162 0025, access code
Cargotec/927698.

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 14 February
2013 in the following numbers: US callers +1 954 334 0342, non-US callers
+44 20 7031 4064, access code 927698.

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 10,500 people. Cargotec's class B shares are quoted on NASDAQ OMX
Helsinki under symbol CGCBV. www.cargotec.com



[HUG#1677299]

Attachments:

Financial statements review 2012, pdf.pdf