2012-10-24 08:00:04 CEST
2012-10-24 08:00:15 CEST
REGULATED INFORMATION
Konecranes Oyj - Interim report (Q1 and Q3)
KONECRANES PLC: OPERATING PROFIT AND CASH FLOW IMPROVED, NEW ORDERS STABLE
KONECRANES PLC INTERIM REPORT October 24, 2012 at 9:00 a.m.
OPERATING PROFIT AND CASH FLOW IMPROVED, NEW ORDERS STABLE
Figures in brackets, unless otherwise stated, refer to the same period in the
previous year.
THIRD QUARTER HIGHLIGHTS
- Order intake EUR 458.0 million (458.5), -0.1 percent; Service +15.6 percent
and Equipment -4.0 percent.
- Order book EUR 1,085.1 million (1,040.1) at end-September, 4.3 percent higher
than a year ago, 3.4 percent lower than at end-June 2012.
- Sales EUR 529.8 million (450.9), +17.5 percent; Service +11.6 percent and
Equipment +23.1 percent.
- Operating profit EUR 37.0 million (26.0), 7.0 percent of sales (5.8).
- Earnings per share (diluted) EUR 0.43 (0.31).
- Net cash flow from operating activities EUR 45.0 million (-1.6).
- Net debt EUR 250.5 million (203.3) and gearing 55.9 percent (50.2).
JANUARY-SEPTEMBER HIGHLIGHTS
- Order intake EUR 1,546.3 million (1,422.2), +8.7 percent; Service +8.3
percent and Equipment +9.8 percent.
- Sales EUR 1,565.1 million (1,298.2), +20.6 percent; Service +14.9 percent and
Equipment +25.1 percent.
- Operating profit EUR 95.7 million (69.7), 6.1 percent of sales (5.4).
- Earnings per share (diluted) EUR 1.07 (0.70).
- Net cash flow from operating activities EUR 74.3 million (-31.2).
MARKET OUTLOOK
Macroeconomic uncertainties have increased and there are more signs of a
weakening global demand due to the continuing crisis within the Eurozone and
slower economic growth in some emerging markets. This is taking its toll on new
inquiries.
FINANCIAL GUIDANCE
Based on the order book, we forecast year 2012 sales and operating profit to be
higher than in 2011.
KEY FIGURES Third quarter January - September
--------------------------------------------------------------------------------
7-9/20 7-9/20 Change 1-9/201 1-9/201 Change R12M 2011
12 11 % 2 1 %
--------------------------------------------------------------------------------
Orders 458.0 458.5 -0.1 1,546.3 1,422.2 8.7 2,020.2 1,896.1
received,
MEUR
--------------------------------------------------------------------------------
Order book 1,085.1 1,040.1 4.3 991.8
at end of
period,
MEUR
--------------------------------------------------------------------------------
Sales total, 529.8 450.9 17.5 1,565.1 1,298.2 20.6 2,163.2 1,896.4
MEUR
--------------------------------------------------------------------------------
EBITDA 47.2 35.5 32.8 125.7 97.0 29.6 182.9 154.3
excluding
restructuri
ng costs,
MEUR
--------------------------------------------------------------------------------
EBITDA 8.9 7.9 8.0 7.5 8.5 8.1
excluding
restructuri
ng costs, %
--------------------------------------------------------------------------------
Operating 37.0 26.0 42.2 95.7 69.7 37.4 143.2 117.2
profit
excluding
restructuri
ng costs,
MEUR
--------------------------------------------------------------------------------
Operating 7.0 5.8 6.1 5.4 6.6 6.2
margin
excluding
restructuri
ng costs, %
--------------------------------------------------------------------------------
EBITDA, MEUR 47.2 35.5 32.8 125.7 97.0 29.6 176.8 148.1
--------------------------------------------------------------------------------
EBITDA, % 8.9 7.9 8.0 7.5 8.2 7.8
--------------------------------------------------------------------------------
Operating 37.0 26.0 42.2 95.7 69.7 37.4 132.9 106.9
profit,
MEUR
--------------------------------------------------------------------------------
Operating 7.0 5.8 6.1 5.4 6.1 5.6
margin, %
--------------------------------------------------------------------------------
Profit 37.1 26.3 41.2 90.3 60.1 50.2 125.9 95.8
before
taxes, MEUR
--------------------------------------------------------------------------------
Net profit 25.0 18.3 36.6 62.4 42.0 48.7 85.4 64.9
for the
period,
MEUR
--------------------------------------------------------------------------------
Earnings per 0.43 0.31 41.1 1.08 0.71 51.9 1.48 1.11
share,
basic, EUR
--------------------------------------------------------------------------------
Earnings per 0.43 0.31 41.8 1.07 0.70 52.6 1.47 1.10
share,
diluted,
EUR
--------------------------------------------------------------------------------
Gearing, % 55.9 49.7 50.5
--------------------------------------------------------------------------------
Return on 18.5 17.1
capital
employed %,
Rolling 12
Months
(R12M)
--------------------------------------------------------------------------------
Average 11,860 10,834 9.5 10,998
number of
personnel
during the
period
--------------------------------------------------------------------------------
President and CEO Pekka Lundmark:
”Although not yet at the goal, we are pleased with our results in third
quarter. Service business is improving its performance and achieving the goal
of prioritizing profitability over growth this year. Our maintenance contract
base has developed well, which is a stabilizing element amid an uncertain
economic environment. Equipment business is coping well with the challenging
environment where fragmented market, overcapacity in the crane industry in some
parts of the world and somewhat softening demand are all putting pressure on
the sales margins.
The development in different parts of the world is uneven. Our strongest
performer this year has been North America along with certain emerging markets,
such as the ASEAN countries. Western Europe, China and India are all
experiencing weaker demand. Our funnel of new opportunities is still reasonably
good, but the lack of structural reforms to tackle various economic problems in
the world may negatively affect our market.“
DISCLOSURE PROCEDURE
Konecranes follows the disclosure procedure enabled by Standard 5.2b published
by the Finnish Financial Supervision Authority. This stock exchange release is
a summary of Konecranes Plc's Interim Report January-September 2012. The
complete report is attached to this release in pdf format and is also available
on Konecranes' website at www.konecranes.com.
ANALYST AND PRESS BRIEFING
An analyst and press conference will be held at restaurant Savoy´s Salicabinet
(address: Eteläesplanadi 14, 7th floor) at 11.00 a.m. Finnish time. The Interim
Report will be presented by Konecranes' President and CEO Pekka Lundmark and
CFO Teo Ottola.
A live webcast of the conference will begin at 11.00 a.m. at
www.konecranes.com. Please see the stock exchange release of October 9, 2012,
for the conference call details.
KONECRANES PLC
Miikka Kinnunen
Director, Investor Relations
FURTHER INFORMATION
Mr Pekka Lundmark, President and CEO, tel. +358 20 427 2000
Mr Teo Ottola, Chief Financial Officer, tel. +358 20 427 2040
Mr Miikka Kinnunen, Director, Investor Relations, tel. +358 20 427 2050
Mr Mikael Wegmüller, Vice President, Marketing and Communications, tel. +358 20
427 2008
Konecranes is a world-leading group of Lifting Businesses™, serving a broad
range of customers, including manufacturing and process industries, shipyards,
ports and terminals. Konecranes provides productivity-enhancing lifting
solutions as well as services for lifting equipment and machine tools of all
makes. In 2011, Group sales totaled EUR 1,896 million. The Group has 12,100
employees at 609 locations in 47 countries. Konecranes is listed on the NASDAQ
OMX Helsinki (symbol: KCR1V).
DISTRIBUTION
NASDAQ OMX Helsinki
Media
www.konecranes.com
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