Konecranes Oyj - Company Announcement

KONECRANES PLC - KONECRANES LOWERS ITS FULL-YEAR 2013 FINANCIAL GUIDANCE AND RELEASES PRELIMINARY THIRD QUARTER 2013 FIGURES

KONECRANES PLC STOCK EXCHANGE RELEASE October 14, 2013 at 09:00

Continued soft market and unfavourable currency development will tax fourth
quarter 2013 result expectations. EBIT margin improving from the beginning of
the year as cost cutting progresses on plan. 

According to the preliminary figures, Konecranes' third quarter 2013 order
intake was approximately EUR 413 million, down 10 percent year-on-year.
Approximately one-half or almost 5 percentage points of the order intake
decline was explained by negative currency changes. Sales were approximately
EUR 503 million and operating profit excluding restructuring costs
approximately EUR 32 million. The operating margin excluding restructuring
costs was approximately 6.4 percent. 

Both the cost base and the operating margin developed as expected in the third
quarter of 2013. Group's efficiency improvement program to lower the annual
cost base by EUR 30 million by the end of 2014 is proceeding as planned. 

Konecranes expects the positive margin development to continue and fourth
quarter 2013 operating profit to improve from the previous year. However, due
to the weaker than expected order intake and unfavourable currency development
in the third quarter, Konecranes no longer expects to meet the earlier
financial guidance for 2013. 

The new financial guidance is:

“Based on the order book and the near-term demand outlook, the year 2013 sales
are expected to be slightly lower than in 2012. We expect the fourth quarter
2013 operating profit excluding restructuring costs to improve from the
previous year. However, we expect the full-year 2013 operating profit excluding
restructuring costs to be lower than in 2012.” 

The previous financial guidance was:

“Based on the order book and the near-term demand outlook, the year 2013 sales
are expected to be stable or slightly higher than in 2012. We expect the 2013
operating profit excluding restructuring costs to be approximately on the same
level as in 2012.” 

The preliminary third quarter 2013 figures incorporate restructuring costs of
approximately EUR 24 million (EUR 5 million cash-based and EUR 19 million non
cash-based) related to the cost reduction program announced July 24, 2013. 


Konecranes will release its January-September interim report October 23, 2013.

KONECRANES PLC


Miikka Kinnunen
Director, Investor Relations


FURTHER INFORMATION

Analysts and Investors:
Miikka Kinnunen, Director, Investor Relations, Konecranes Plc, tel. +358 20 427
2050 

Press:
Mikael Wegmüller, Vice President, Marketing and Communications, Konecranes Plc,
tel. +358 20 427 2008 



DISTRIBUTION
NASDAQ OMX Helsinki
Media
www.konecranes.com



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 2012, Group sales totaled EUR 2,170 million. The Group has 11,900
employees at 626 locations in 48 countries. Konecranes is listed on the NASDAQ
OMX Helsinki (symbol: KCR1V).