2013-04-24 08:00:05 CEST
2013-04-24 08:00:21 CEST
REGLERAD INFORMATION
Konecranes Oyj - Interim report (Q1 and Q3)
KONECRANES PLC: ALL-TIME HIGH ORDER INTAKE, SERVICE PROFITABILITY IMPROVEMENT CONTINUES, EQUIPMENT PROFITABILITY NOT YET SATISFACTORY
KONECRANES PLC INTERIM REPORT April 24, 2013 at 9:00 a.m.
Figures in brackets, unless otherwise stated, refer to the same period a year
earlier.
FIRST QUARTER HIGHLIGHTS
- Order intake EUR 582.5 million (534.6), +9.0 percent; Service -0.9 percent
and Equipment +13.7 percent.
- Order book EUR 1,084.0 million (1,075.6) at the end of March, 0.8 percent
higher than a year ago, 15.0 percent higher than at the end of 2012.
- Sales EUR 495.9 million (474.0), +4.6 percent; Service +1.3 percent and
Equipment +7.6 percent.
- Operating profit before restructuring costs EUR 23.1 million (24.0), 4.7
percent of sales (5.1).
- Restructuring costs EUR 4.3 million (0.0).
- Operating profit including restructuring costs EUR 18.8 million (24.0), 3.8
percent of sales (5.1).
- Earnings per share (diluted) EUR 0.19 (0.25).
- Net cash flow from operating activities EUR 32.2 million (12.0).
- Net debt EUR 155.0 million (221.7) and gearing 36.5 percent (56.2).
MARKET OUTLOOK
Demand is expected to be stable or slightly higher among industrial customers.
The demand within port customers is expected to be stable. However, due to the
timing of large port crane projects, the quarterly Equipment order intake may
fluctuate.
FINANCIAL GUIDANCE
Based on the offer base 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 to improve from 2012.
KEY FIGURES 1-3/201 1-3/201 Change R12M 2012
3 2 %
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Orders received, MEUR 582.5 534.6 9.0 2,018.1 1,970.1
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Order book at end of period, MEUR 1,084.0 1,075.6 0.8 942.7
--------------------------------------------------------------------------------
Sales total, MEUR 495.9 474.0 4.6 2,193.4 2,171.5
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EBITDA excluding restructuring 33.3 33.7 -1.1 179.4 179.7
costs, MEUR
--------------------------------------------------------------------------------
EBITDA excluding restructuring 6.7% 7.1% 8.2% 8.3%
costs, %
--------------------------------------------------------------------------------
Operating profit excluding 23.1 24.0 -3.7 137.4 138.3
restructuring costs, MEUR
--------------------------------------------------------------------------------
Operating margin excluding 4.7% 5.1% 6.3% 6.4%
restructuring costs, %
--------------------------------------------------------------------------------
EBITDA, MEUR 29.2 33.7 -13.2 172.4 176.8
--------------------------------------------------------------------------------
EBITDA, % 5.9% 7.1% 7.9% 8.1%
--------------------------------------------------------------------------------
Operating profit, MEUR 18.8 24.0 -21.5 127.3 132.5
--------------------------------------------------------------------------------
Operating margin, % 3.8% 5.1% 5.8% 6.1%
--------------------------------------------------------------------------------
Profit before taxes, MEUR 15.5 20.5 -24.2 119.3 124.2
--------------------------------------------------------------------------------
Net profit for the period, MEUR 10.9 14.4 -24.2 81.3 84.8
--------------------------------------------------------------------------------
Earnings per share, basic, EUR 0.19 0.25 -23.5 1.41 1.47
--------------------------------------------------------------------------------
Earnings per share, diluted, EUR 0.19 0.25 -23.4 1.41 1.46
--------------------------------------------------------------------------------
Gearing, % 36.5% 56.2% 39.3%
--------------------------------------------------------------------------------
Return on capital employed %, 17.8% 18.4%
Rolling 12 Months (R12M)
--------------------------------------------------------------------------------
Free cash flow, MEUR 21.7 0.7 3,103.6 122.6 101.6
--------------------------------------------------------------------------------
Average number of personnel during 12,114 11,704 3.5 11,917
the period
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President and CEO Pekka Lundmark:
“We are happy to report an all-time high order intake in the first quarter of
2013. The order from the Indonesian port operator Pelindo III, booked in
February and worth more than 100 million euro, is also the largest single order
in our company's history. Orders for industrial cranes and components recovered
somewhat from the low level in the last quarter of 2012 and also the growth of
service contract base accelerated. Overall, a good quarter for our order book.
Positive development in the service business profitability we saw throughout
2012 continued. The new technologies and the broadened scope of services that
we are launching have been well received by the customers. As for the equipment
business, the quarter suffered from seasonally low delivery volumes. This was
further accentuated by product mix, price pressure and the low order intake in
the second half of last year affecting the entire first half of 2013.
Restructuring measures to lower our cost base in the equipment business are
proceeding according to the plan, and they will gradually deliver results.”
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 January-March 2013 interim report. 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 KÄMP Kansallissali (address
Aleksanterinkatu 44 A, 2. 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 dated April 4, 2013
for the conference call details.
NEXT REPORT
Konecranes Plc's January-June 2013 interim report will be published on July 24,
2013.
KONECRANES PLC
Miikka Kinnunen
Director, Investor Relations
FOR FURTHER INFORMATION, PLEASE CONTACT:
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 2012, Group sales totaled EUR 2,170 million. The Group has 12,100
employees at 626 locations in 48 countries. Konecranes is listed on the NASDAQ
OMX Helsinki (symbol: KCR1V).
DISTRIBUTION
NASDAQ OMX Helsinki
Media
www.konecranes.com
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