13.04.2017 - 11:45
On April 10, 2017, Konecranes published recast segment results for 2016 reflecting the new financial reporting structure. The comparable combined company segment information contained some errors in Service orders received (approximately EUR 16 million for Q1-Q4/2016) as contract base value was not excluded from orders received in certain MHPS units. The table below contains the corrected comparable combined company orders received for 2016.
COMPARABLE COMBINED COMPANY SEGMENT INFORMATION, UNAUDITED
|Orders received by Business Area||Q1/2016||Q2/2016||Q3/2016||Q4/2016||Q1-Q4/2016|
|Industrial Equipment||275.6||300.8||275.9||296.7||1 148.9|
|Port Solutions||171.4||249.7||203.0||421.1||1 045.2|
|1Excl. Service Contract Base|
Basis of preparation
The comparable combined company’s operations comprise Konecranes’ operations without the divested STAHL CraneSystems business, but including the acquired MHPS business. The comparable combined financial information is based on management’s estimates and is for illustrative purposes only. The combined financial information gives an indication of the combined company's key figures assuming the activities were included in the same company from the beginning of 2016.
The comparable combined financial information is based on a hypothetical situation and should not be viewed as pro forma financial information as differences in accounting principles have not been taken into account. The unaudited combined financial information presented above is based on Konecranes Group’s financial statements for the financial year 2016 according to IFRS and Terex Corporations’s (“Terex”) MHPS segment unaudited special purpose carve-out financial information for the financial year 2016 according to USGAAP.
As the financial information for MHPS has been prepared on a carve-out basis, this does not necessarily reflect what its results of operations would have been, had MHPS operated as an independent company and had it presented stand-alone financial information under IFRS during the period presented. Moreover, the carve-out financial information may not be indicative of MHPS’s future performance of the operative activities aggregated within Konecranes.
Konecranes is unable to present a reconciliation of the combined financial information as MHPS’ financials have been calculated according to USGAAP and using different accounting principles than Konecranes and as Terex has categorized MHPS as a discontinued operation in 2016.
Vice President, Investor Relations
Mr. Miikka Kinnunen, Vice President, Investor Relations, tel. +358 20 427 2050
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. The Group has 18,000 employees at 600 locations in 50 countries. Konecranes class A shares are listed on the Nasdaq Helsinki (symbol: KCR).