Cargotec - Interim report (Q1 and Q3)

Cargotec's January-September 2012 interim report: Focus on improving profitability

CARGOTEC CORPORATION, INTERIM REPORT, 25 OCTOBER 2012 AT 12 PM EEST

July-September 2012 in brief

  * Orders received decreased 11 percent and totalled EUR 719 (811) million.
  * Order book amounted to EUR 2,312 (31 Dec 2011: 2,426) million at the end of
    the period.
  * Sales grew 5 percent to EUR 794 (753) million.
  * Operating profit was EUR 38.5 (54.4) million, representing 4.9 (7.2) percent
    of sales.
  * Operating profit excluding restructuring costs was EUR 39.0 (54.4) million,
    representing 4.9 (7.2) percent of sales.
  * Cash flow from operations before financial items and taxes totalled EUR
    34.2 (6.4) million.
  * Net income for the period amounted to EUR 24.9 (35.7) million.
  * Earnings per share was EUR 0.41 (0.58).



January-September 2012 in brief

  * Orders received totalled EUR 2,348 (2,391) million.
  * Sales grew 5 percent to EUR 2,437 (2,310) million.
  * Operating profit was EUR 117.3 (159.1) million, representing 4.8 (6.9)
    percent of sales.
  * Operating profit excluding restructuring costs was EUR 117.7 (159.1)
    million, representing 4.8 (6.9) percent of sales.
  * Cash flow from operations before financial items and taxes totalled EUR 6.4
    (78.0) million.
  * Net income for the period amounted to EUR 80.4 (114.5) million.
  * Earnings per share was EUR 1.31 (1.86).



Outlook for 2012 (published 15 October 2012)

The operating profit margin for 2012 is expected to be approximately 5 percent
excluding non-recurring costs. Sales are expected to grow from 2011.

Cargotec's key figures



 MEUR                       Q3/12  Q3/11 Change Q1-Q3/12 Q1-Q3/11 Change   2011

 Orders received              719    811   -11%    2,348    2,391    -2%  3,233

 Order book, end of period  2,312  2,349    -2%    2,312    2,349    -2%  2,426

 Sales                        794    753     5%    2,437    2,310     5%  3,139

 Operating profit            38.5   54.4   -29%    117.3    159.1   -26%  207.0

 Operating profit, %          4.9    7.2             4.8      6.9           6.6

 Operating profit*           39.0   54.4   -28%    117.7    159.1   -26%  207.0

 Operating profit, %*         4.9    7.2             4.8      6.9           6.6

 Income before taxes         35.0   51.3           108.7    148.3         191.9

 Cash flow from operations   34.2    6.4             6.4     78.0         166.3

 Net income for the period   24.9   35.7            80.4    114.5         149.3

 Earnings per share, EUR     0.41   0.58            1.31     1.86          2.42

 Net debt, end of period      485    362             485      362           299

 Gearing, %                  38.8   32.7            38.8     32.7          25.4

 Personnel, end of period  10,550 10,970          10,550   10,970        10,928





* excluding restructuring costs



Cargotec's interim President and CEO Tapio Hakakari:

Major restructuring has been launched in Cargotec, in order to improve
profitability. In the future, each business area Marine, Terminals and Load
Handling will include services and operate more independently than before. This
operating model will also support Marine's preparations for its listing in Asia.
Business areas will be named after their industry leading brands MacGregor,
Kalmar and Hiab. Through these changes, we are seeking to improve our efficiency
and reduce fixed costs.



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 3:00 pm EEST at
Cargotec's head office, Sörnäisten rantatie 23, Helsinki. The event will be held
in English. The interim report will be presented by Executive Vice President,
CFO Eeva Sipilä. The presentation material will be available at www.cargotec.com
by 3:00 pm 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 6203, non-US callers +44 20 7162 0125, access code
Cargotec/914117.



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 27 October
2012 in the following numbers: US callers +1 954 334 0342, non-US callers
+44 20 7031 4064, access code 914117.


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 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 3.1 billion in 2011 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#1652265]

Attachments:

Interim report in pdf format.pdf