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Konecranes Oyj — Earnings Release 2009
Dec 11, 2009
3220_rns_2009-12-11_b9d54e91-8d0c-43f8-86b9-ae33ed72f1e9.html
Earnings Release
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Disclosure 274533
Konecranes Oyj - Company Announcement
POSTPONEMENTS OF A SMALL AMOUNT OF DELIVERIES FROM FOURTH QUARTER 2009 TO FIRST QUARTER 2010 COULD LEAD FULL YEAR 2009 SALES TO BE SLIGHTLY LOWER THAN PREVIOUSLY ESTIMATED. OPERATING MARGIN ESTIMATE REMA
KONECRANES PLC STOCK EXCHANGE RELEASE DECEMBER 11, 2009 2.00 p.m. EET POSTPONEMENTS OF A SMALL AMOUNT OF DELIVERIES FROM FOURTH QUARTER 2009 TO FIRST QUARTER 2010 COULD LEAD FULL YEAR 2009 SALES TO BE SLIGHTLY LOWER THAN PREVIOUSLY ESTIMATED. OPERATING MARGIN ESTIMATE REMAINS UNCHANGED 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. KONECRANES PLC Miikka Kinnunen, Director, Investor Relations 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