Figures in brackets, unless otherwise stated, refer to the same period a year earlier.
FIRST QUARTER HIGHLIGHTS
- Order intake EUR 534.6 million (510.9), +4.6 percent; Service +12.2 percent and Equipment +2.3 percent.
- Order book EUR 1,075.6 million (956.6) at the end of March, 12.4 percent higher than a year ago, 8.5 percent higher than at the end of 2011.
- Sales EUR 474.0 million (387.8), +22.2 percent; Service +20.4 percent and Equipment +22.0 percent.
- Operating profit EUR 24.0 million (18.5), +29.4 percent; 5.1 percent of sales (4.8).
- Earnings per share (diluted) EUR 0.25 (0.14).
- Net cash flow from operating activities EUR 12.0 million (-2.1).
- Net debt EUR 222.4 million (7.0) and gearing 56.8 percent (1.7).
MARKET OUTLOOK
Forecasting the demand continues to be challenging due to macroeconomic uncertainties. Based on the current offer base, the demand outlook is stable. However, due to the timing of large port crane projects, the quarterly Equipment order intake may fluctuate.
FINANCIAL GUIDANCE
Based on the order book, we forecast year 2012 sales and operating profit to be higher than in 2011.
PRESIDENT AND CEO PEKKA LUNDMARK:
The first quarter development met largely our expectations. Demand continued to be on a good level and it was pleasing to see some increased activity also in Western Europe. The Region Americas continued strong, while Asia-Pacific demand was approximately on the same level as in the fourth quarter of the last year, but behind the first quarter a year ago.
Sales growth of 22.2 percent and operating profit growth of 29.4 percent were good achievements, even though the operating margin of 5.1 percent was seasonally weak, which is typical for our first quarter. It is not surprising that operational leverage was still low compared to the first quarter of 2011 since the acquisitions, network expansions and increased R&D and IT spending started to increase our fixed costs, mainly from the second quarter of last year onwards. Now, when our fixed cost growth is slowing down, we expect the operating leverage to increase.
ANALYST AND PRESS BRIEFING
An analyst and press conference will be held at G.W. Sundmans’ Auditorium (address: Eteläranta 16) 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 13, 2012 for the conference call details.
KONECRANES PLC
Miikka Kinnunen
Director, Investor Relations
FURTHER INFORMATION
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 2011, Group sales totaled EUR 1,896 million. The Group has 11,700 employees at 609 locations in 47 countries. Konecranes is listed on the NASDAQ OMX Helsinki (symbol: KCR1V).
DISTRIBUTION
NASDAQ OMX Helsinki
Media
www.konecranes.com
