25.07.2012 - 12:00
Figures in brackets, unless otherwise stated, refer to the same period a year earlier
SECOND QUARTER HIGHLIGHTS
- Order intake EUR 553.7 million (452.8), +22.3 percent; Service -1.4 percent and Equipment +33.7 percent. Service contract base value +19.8 percent.
- Order book EUR 1,122.8 million (981.0) at end-June, 14.5 percent higher than a year ago, 4.4 percent higher than at end-March 2012.
- Sales EUR 561.2 million (459.5), +22.1 percent; Service +13.5 percent and Equipment +29.7 percent.
- Operating profit EUR 34.7 million (25.1), 6.2 percent of sales (5.5).
- Earnings per share (diluted) EUR 0.40 (0.26).
- Net cash flow from operating activities EUR 17.2 million (-27.5).
- Net debt EUR 275.2 million (116.0) and gearing 64.7 percent (26.7).
- Order intake EUR 1,088.3 million (963.7), +12.9 percent; Service +5.0 percent and Equipment +16.4 percent.
- Sales EUR 1,035.2 million (847.3), +22.2 percent; Service +16.7 percent and Equipment +26.2 percent.
- Operating profit EUR 58.7 million (43.6), 5.7 percent of sales (5.2).
- Earnings per share (diluted) EUR 0.64 (0.40).
- Net cash flow from operating activities EUR 29.3 million (-29.6).
Our current offer base remains on a good level. However, there are some signs of a weakening global demand due to the continuing crisis within the Eurozone and slower economic growth in some emerging markets.
Based on the order book, we forecast year 2012 sales and operating profit to be higher than in 2011.
PRESIDENT AND CEO PEKKA LUNDMARK:
Our business developed largely according to our own expectations during the second quarter. Order intake was strong, especially once the current uncertain times are taken into account. Our order book value set again a new record, which gives us some flexibility going forward. This is important since there are signs of a weakening demand in some parts of the world. We have a good number of new opportunities in our sales funnel, but there is a growing risk that customers may hold up their investment decisions in the anticipation of some kind of a solution to the Eurozone crisis and other global economic uncertainties.
As we had expected, the operational leverage increased in the quarter. Slower fixed cost growth in combination with higher volumes delivered a higher operating profit. Improvement is now fastest in the service business where sales margins and product mix are stable. Equipment business leverage is also improving, but more slowly since there is a slight weakening in the product mix and the competitive situation remains tight.
ANALYST AND PRESS BRIEFING
An analyst and press conference will be held at the restaurant Savoy (address Eteläesplanadi 14) 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 July 6, 2012 for the conference call details.
Director, Investor Relations
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 11,900 employees at 609 locations in 47 countries. Konecranes is listed on the NASDAQ OMX Helsinki (symbol: KCR1V).
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