Konecranes changes its 2017 financial guidance as follows:
“The sales in 2017 are expected to be close to or lower than the comparable combined company sales in 2016 (EUR 3,278 million). We expect the adjusted EBITA to total EUR 205-225 million in 2017 (comparable combined company adjusted EBITA was EUR 184 million in 2016).
The comparable combined company’s operations comprise Konecranes’ operations without the divested STAHL CraneSystems business, but including the acquired MHPS business. See the stock exchange releases published on April 10, 2017, and April 13, 2017, for further financial information including the basis of preparation for the comparable combined company.”
The previous 2017 financial guidance was as follows:
“The sales in 2017 are expected to be close to the comparable combined company sales in 2016 (EUR 3,278 million). We expect the adjusted EBITA to total EUR 195-215 million in 2017 (comparable combined company adjusted EBITA was EUR 184 million in 2016).
The comparable combined company’s operations comprise Konecranes’ operations without the divested STAHL CraneSystems business, but including the acquired MHPS business. See the stock exchange releases published on April 10, 2017, and April 13, 2017, for further financial information including the basis of preparation for the comparable combined company.”
The upgrade in the financial guidance concerning the EBITA relates to better than expected sales mix and higher than expected cost savings. The downgrade in the financial guidance concerning sales relates mainly to the recent depreciation of the USD against the EUR.
According to preliminary financial information, Konecranes’ second-quarter order intake amounted to approximately EUR 790 million (comparable combined company order intake was EUR 762 million in 2016), sales to approximately EUR 797 million (EUR 787 million) and adjusted EBITA to approximately EUR 51 million (EUR 43 million).
Konecranes will provide further information in its January-June 2017 half year financial report due July 26, 2017.
KONECRANES PLC
Miikka Kinnunen
Vice President, Investor Relations
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 of all makes. In 2016, Group (comparable combined company) sales totaled EUR 3,278 million. The Group has 17,000 employees at 600 locations in 50 countries. Konecranes class A shares are listed on the Nasdaq Helsinki (symbol: KCR).
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Nasdaq Helsinki
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www.konecranes.com
