Konecranes will have a large number of customer deliveries around the year end. This is a pattern well known from previous years, and it makes the estimation of the full year sales difficult, since certain deliveries could fall on either side of the New Year. Often the final delivery time is also dependent on when the customer’s site is ready to receive the equipment.
Due to this uncertainty, based on the currently available information there is a possibility that the full year sales decline will be slightly more than earlier estimated. The uncertainty is entirely due to the timing of certain deliveries, and there has not been any material increase in order cancellations.
Konecranes estimated in its third quarter interim report the 2009 full year sales to be 17-20 percent lower than the level of full year 2008, but also indicated the actual sales decrease to be close to the upper end of that range.
The cost reduction actions are proceeding according to the plan, and Konecranes expects to meet its earlier operating margin forecast in spite of the possibility for slightly lower sales. Konecranes’ full year 2009 operating margin estimate remains unchanged at 6.5-7.5 percent of sales, excluding the estimated restructuring costs of EUR 17-22 million communicated in the third quarter interim report.
FURTHER INFORMATION
Investors and analysts:
Miikka Kinnunen, Director, Investor Relations
E-mail: [email protected] or phone +358 20 427 2050
Teo Ottola, CFO
E-mail: [email protected] or phone +358 50 5211 064
Media:
Mikael Wegmüller, Director, Marketing and Communications
E-mail: [email protected] or phone +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 2008, Group sales totaled EUR 2,103 million. The Group has 9,700 employees, at 485 locations in 43 countries. Konecranes is listed on NASDAQ OMX Helsinki Ltd (symbol: KCR1V).
DISTRIBUTION
NASDAQ OMX Helsinki Ltd
Media
www.konecranes.com
