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CARGOTEC CORPORATION, INTERIM REPORT, 23 OCTOBER 2014 AT NOON EEST
Cargotec's January-September 2014 interim report: Profit improvement progressed in Hiab and Kalmar, reorganisation launched in MacGregor
July-September 2014 in brief
January-September 2014 in brief
Outlook for 2014 unchanged
Cargotec's 2014 sales are expected to grow from 2013. Operating profit excluding restructuring costs for 2014 is expected to improve from 2013.
Cargotec's key figures
|Order book, end of period||2,327||2,048||14%||2,327||2,048||14%||1,980|
|Operating profit excluding restructuring costs||48.4||35.4||37%||77.8||87.9||-12%||126.5|
|Operating profit excluding restructuring costs, %||5.8||4.7||3.2||3.9||4.0|
|Operating profit/loss, %||5.4||4.2||2.7||3.4||2.9|
|Income before taxes||39.3||27.3||44.7||67.7||78.7|
|Cash flow from operations||63.4||38.2||120.3||47.0||180.9|
|Net income for the period||27.8||19.3||31.4||47.7||55.4|
|Earnings per share, EUR||0.43||0.31||0.48||0.77||0.89|
|Net debt, end of period||835||577||835||577||578|
|Personnel, end of period||10,829||10,216||10,829||10,216||10,610|
Cargotec's President and CEO Mika Vehviläinen:
Our profit improvement programme progressed as planned in Hiab and Kalmar during the third quarter, and its effects are already being seen in both businesses' operating profit figures. We are continuing our determined efforts to complete this programme. Hiab and Kalmar's market environment remained unchanged, however, uncertainty has increased. Third-quarter orders for both business areas were in line with the comparison period.
Uncertainty increased in MacGregor's market during the autumn. In order to safeguard improved profitability in such a market, we have decided to launch measures in several areas, such as sales, services and procurement, and have established a more customer-oriented organisation. The development of this business area will require the same determined efforts that are already bearing fruit at Hiab and Kalmar.
Press conference for analysts and media
A press conference for analysts and media, combined with a live international telephone conference, will be arranged on the publishing day at 2:00 p.m. EEST at Cargotec's head office, Porkkalankatu 5, Helsinki. The event will be held in English. The report will be presented by President and CEO Mika Vehviläinen and Executive Vice President, CFO Eeva Sipilä. The presentation material will be available at www.cargotec.com by 2:00 p.m. EEST.
The telephone conference, during which questions may be presented, can be accessed using the following numbers ten minutes before the beginning of the event with access code Cargotec/948460:
FI: +358 9 2313 9201
SE: +46 8 5052 0110
UK: +44 207 1620 077
US: +1 334 323 6201
The event can also be viewed as a live webcast at www.cargotec.com. An on-demand version of the conference will be published at Cargotec's website later during the day.
A replay of the conference call will be available until midnight 25 October 2014 in the following numbers: US callers +1 954 334 0342, non-US callers +44 20 7031 4064, access code 948460.
For further information, please contact:
Eeva Sipilä, Executive Vice President and CFO, tel. +358 20 777 4104
Paula Liimatta, Director, Investor Relations, tel. +358 20 777 4084
Cargotec shapes the cargo handling industry for the benefit of its customers and shareholders. Cargotec's business areas MacGregor, Kalmar and Hiab are recognised leaders in cargo and load handling solutions around the world. Their global network is positioned close to customers and offers extensive services that ensure a continuous, reliable and sustainable performance according to customers' needs. Cargotec's sales totalled approximately EUR 3.2 billion and it employs approximately 11,000 people. Cargotec's class B shares are quoted on NASDAQ OMX Helsinki Ltd under symbol CGCBV. www.cargotec.com