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Cargotec's January-March 2015 interim report: improvement in all key figures

Tue, 28th Apr 2015 10:01

CARGOTEC CORPORATION, INTERIM REPORT, 28 APRIL 2015 AT 12 PM EEST

Cargotec's January-March 2015 interim report: improvement in all key figures

January-March 2015 in brief

  • Orders received increased 9 percent and totalled EUR 939 (863) million.
  • Order book amounted to EUR 2,469 (31 Dec 2014: 2,200) million at the end of the period.
  • Sales grew 18 percent to EUR 889 (751) million.
  • Operating profit excluding restructuring costs was EUR 52.3 (24.6) million, representing 5.9 (3.3) percent of sales.
  • Operating profit was EUR 51.3 (23.8) million, representing 5.8 (3.2) percent of sales.
  • Cash flow from operations before financial items and taxes totalled EUR 51.6 (32.5) million.
  • Net income for the period amounted to EUR 36.4 (12.9) million.
  • Earnings per share was EUR 0.56 (0.20).

Outlook for 2015 unchangedCargotec's 2015 sales are expected to grow from 2014. Operating profit excluding restructuring costs for 2015 is expected to improve from 2014.

Cargotec's key figures

MEUR 1-3/2015 1-3/2014 Change 2014
Orders received 939 863 9% 3,599
Order book, end of period 2,469 2,111 17% 2,200
Sales 889 751 18% 3,358
Operating profit* 52.3 24.6 112% 149.3
Operating profit, %* 5.9 3.3 4.4
Operating profit 51.3 23.8 116% 126.6
Operating profit, % 5.8 3.2 3.8
Income before taxes 47.5 18.3 98.2
Cash flow from operations 51.6 32.5 204.3
Net income for the period 36.4 12.9 72.0
Earnings per share, EUR 0.56 0.20 1.11
Net debt, end of period 789 824 719
Gearing, % 62.2 68.1 59.2
Personnel, end of period 10,698 10,883 10,703

*excluding restructuring costs

Cargotec's President and CEO Mika Vehviläinen:2015 began positively for Cargotec. We saw year-on-year improvement in all of our key figures. I am extremely pleased with the way our profit improvement measures are progressing with regard to Kalmar and Hiab. Our new product launches together with the improving market situation are demonstrating as growth in our order book and sales. Our profitability is improving step by step towards our 8% EBIT margin target set for 2016.

We are also satisfied with the 9% growth seen in orders received in the first quarter. During the first quarter, the market situation related to Kalmar and Hiab developed favourably, while that of MacGregor weakened. We do not expect to see rapid improvement in MacGregor's market situation, which is why we have added a savings programme to our current programmes in order to safeguard the profitability of this business area.

Press conference for analysts and mediaA press conference for analysts and media, combined with a live international telephone conference, will be arranged on the publishing day at 1:30 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 1:30 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/952518:FI: +358 9 2313 9201SE: +46 8 5052 0110UK: +44 207 1620 077US: +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 30 April 2015 in the following numbers: US callers +1 954 334 0342, non-US callers +44 20 7031 4064, access code 952518.

For further information, please contact:Eeva Sipilä, Executive Vice President and CFO, tel. +358 20 777 4104Paula 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 in 2014 totalled approximately EUR 3.4 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

This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.Source: Cargotec Corporation via Globenewswire
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