Konecranes is arranging a Capital Markets Day (CMD) event for analysts and institutional investors in Hyvinkää, Finland, today on November 23. The theme of the CMD is laying foundation for growth. Konecranes’ growth strategies are presented both on group and business area levels. In addition, overviews of procurement, finance and R&D are presented.
In his presentation, Pekka Lundmark, President & CEO, discusses the following key strategies of the Group:
- Differentiation through service and technology innovation
- Lifting people
- Global footprint
- Multiple (alpha/beta) distribution channels
- Global, demand-driven supply chain
- Real-time information
President & CEO Pekka Lundmark comments on the market situation as follows: The start of the fourth quarter has been in line with our expectations. The higher capacity utilization within our customer industries is supporting the demand for maintenance services. Our customers are gradually regaining confidence to increase their new equipment investments too, but this seems to be a slow process in the developed markets.
We have taken decisive steps to strengthen our position in the growing emerging markets. Following the successful establishment of greenfield operations both in China and India, the acquisitions of Sanma and WMI Cranes (the latter subject to regulatory approvals) are clearly broadening our addressable markets and enhancing our service potential. We have also increased our reach in Africa through acquisitions. All these are important additions to our sourcing and supply network as well, says Lundmark.
Konecranes re-iterates the target to reach 10 percent operating margin over the cycle. The Group continues to have a vision to reach a global market share of 30 percent. This vision carries no time limit and is based on both organic growth and potential acquisitions. The Group’s market share is estimates to have been approximately 16 percent in 2009 including the new equipment market and the open market for crane service. The Group has no quantitative targets for the capital structure, but the optimal long-term gearing (net interest-bearing debt / equity) ratio is considered to be in the range of 50-80 percent. However, in the short-term the gearing can be higher or lower than this range.
Presentations and recordings of the CMD will be available on Konecranes website at www.konecranes.com > Investors > CMD 2010 on November 23.
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
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 and services for lifting equipment of every make. In 2009, Group sales totaled EUR 1,671 million. The Group has 9,800 employees, at 545 locations in 43 countries. Konecranes is listed on the NASDAQ OMX Helsinki Ltd. (symbol: KCR1V).
DISTRIBUTION
NASDAQ OMX Helsinki Ltd
Major media
www.konecranes.com
