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April 28, 2010 Pekka Lundmark, President and CEO Teo Ottola, CFO Q1 2010 Interim Report
Highlights of Q1/10 Positives Improving macro indicators Service showing signs of a recovery Successful cost savings actions supported result Alliance with Kito Negatives Continued low new equipment demand Intense price competition Profit burdened by low deliveries 2© 2010 Konecranes Plc. All rights reserved.
Capacity utilization: EU27 and USA 3© 2010 Konecranes Plc. All rights reserved. SOURCES: Eurostat, Federal Reserve Bank of St. Louis
Container traffic 4© 2010 Konecranes Plc. All rights reserved. SOURCES: Drewry Container Annual 2009/2010, Drewry Freight Shipper Inshight Annual port handling volumeMonthly port handling volume
Founded in 1932 and listed on the Tokyo Stock Exchange in 2007 Serves customers mainly in Japan, North America and China Clear market leader for manual and electric chain hoists in Japan For the year ended March 31, 2009, Kito’s net sales amounted to EUR 227 million and operating profit to EUR 16.5 million Kito has approximately 1,500 employees and factories in Japan, China and the Philippines Facts about Kito Corporation © 2010 Konecranes Plc. All rights reserved.5
Purchase of 22% of shares for EUR 27 million Konecranes will sell Kito manual products; Kito will sell wire rope hoist made by Konecranes Enhances Konecranes’ presence in East Asia and North America Possibilities to expand co-operation Both companies will retain own identity and independence Strategic alliance with Kito Corporation © 2010 Konecranes Plc. All rights reserved.6
Q1/2010 Group orders and net sales 7© 2010 Konecranes Plc. All rights reserved. Orders: 320.6 (369.7) MEUR, -13.3% | Net sales: 306.3 (442.1) MEUR, -30.7%
Sales split by business area & region, R12M 8© 2010 Konecranes Plc. All rights reserved. R12M 1,535 MEUR (FY 2009 1,671) 16% (16%) 56% (56%) 28% (29%) 61% (63%) 39% (37%) R12M 1,535 MEUR (FY 2009 1,671)
Order book at end of the period 641.3 (792.0) MEUR, -19.0% Group order book 9 © 2010 Konecranes Plc. All rights reserved.
Q1/2010 Group EBIT & margin 10 © 2010 Konecranes Plc. All rights reserved. EBIT: 11.6 (36.8) MEUR | Margin: 3.8% (8.3%)
Return on capital employed 11© 2010 Konecranes Plc. All rights reserved. *The 2007 ROCE including capital gain was 50.4% ROCE % 24.3 17.8 10.8 13.7 17.2 29.5 46.2 * 56.3 19.3 14.6
Future prospects as of April 28, 2010 12© 2010 Konecranes Plc. All rights reserved. 2010 guidance for sales and operating profit reiterated, Services’ demand outlook changed Market uncertainty to continue Demand outlook for maintenance services has improved as a result of higher capacity utilization within customer industries Demand for new equipment to remain on a low level –Price competition to remain Order book lower than a year ago Sales in 2010 forecast to be lower than in 2009 Operating profit in 2010 expected to be lower than in 2009 before restructuring costs
Orders: 139.8 (125.6) MEUR, 11.3% | Net sales: 148.0 (169.7) MEUR, -12.8% Q1/2010 Service: orders & net sales New orders grew in all geographic regions Higher orders across several business units with particular strength in Modernization due to large single orders 14© 2010 Konecranes Plc. All rights reserved.
EBIT: 9.8 (15.7) MEUR | Margin: 6.6% (9.3%) Q1/2010 Service: EBIT & margin 15© 2010 Konecranes Plc. All rights reserved. Profitability declined due to lower volumes
Q1/2010 Service: contract base 367 (366) thousand units, 0.3% | Annual value 132 (127) MEUR, 3.4% 16© 2010 Konecranes Plc. All rights reserved.
Service: order book 87.7 (109.1) MEUR, -19.6% 17© 2010 Konecranes Plc. All rights reserved.
Q1/2010 Equipment: orders & net sales Orders decreased both in EMEA and the Americas, but grew in APAC due to strong growth in China Orders declined both Y/Y and Q/Q due to lack of large single block orders for port equipment particularly 19© 2010 Konecranes Plc. All rights reserved. Orders: 196.2 (263.9) MEUR, -25.7% | Net sales: 185.8 (304.6) MEUR, -39.0%
Q1/2010 Equipment: EBIT & margin Profitability declined due to declining volumes Negative profit impact could not be fully offset by cost savings actions 20© 2010 Konecranes Plc. All rights reserved. EBIT: 6.0 (26.8) MEUR, -77.4% | Margin: 3.3% (8.8%)
Equipment: order book Order book: 558.2 (701.9) MEUR, -20.5% 21© 2010 Konecranes Plc. All rights reserved.
Balance Sheet and Cash Flow
Q1/2010 Net working capital 102.5 (267.0) MEUR | 6.7% (12.7%) of LTM sales | 156.0 MEUR | 10.2% of LTM sales incl. dividends 23© 2010 Konecranes Plc. All rights reserved.
Cash flow before financing activities 24© 2010 Konecranes Plc. All rights reserved. *Including capital gain * 30.9 MEUR capex on acquisitions and investments in associated companies
Q1/2010 Gearing 25© 2010 Konecranes Plc. All rights reserved. Equity: 373.7 (379.7) MEUR | Net debt: -46.6 (37.8) MEUR | Gearing; -12.4% (10.0%)
Statement of income Q1 2010 MEUR Q1 2009 MEUR % Change Sales306.3442.1-30.7 Other operating income0.80.7 Depreciation and impairments-7.3-6.8 Other operating expenses-288.2-399.2 Operating profit11.636.8-68.6 Share of associates’ and joint ventures’ result0.10.0 Financial income and expenses0.7-1.5 Income before taxes12.435.4-64.9 Taxes-3.7-10.1 Net income for the period8.825.3-65.4 27© 2010 Konecranes Plc. All rights reserved.
Balance sheet MEURQ1 2010Q1 2009Q1 2010Q1 2009 Non-current assets324.9241.2Equity373.7379.7 Inventories271.1356.7Non-current liabilities111.8180.4 Other current assets395.5468.4Provisions58.646.9 Cash and cash equivalents121.1116.0Current liabilities568.6575.3 Total assets1 112.71 182.2Total equity and liabilities1 112.71 182.2 28© 2010 Konecranes Plc. All rights reserved.
Cash flow statement MEURQ1 2010Q1 2009 Operating income before change in net working capital19.343.9 Change in net working capital10.89.5 Financing items and taxes-29.6-20.8 Net cash from operating activities0.532.6 Net cash used in investing activities-35.0-5.0 Cash flow before financing activities-34.527.6 Proceeds from options exercised and share issues0.90.7 Change of interest-bearing debt10.038.8 Dividends paid to equity holders of the parent0.0-53.3 Net cash used in financing activities10.9-13.8 Translation differences in cash7.11.3 Change of cash and cash equivalents-16.515.1 Cash and cash equivalents at beginning of period137.5100.9 Cash and cash equivalents at end of period121.1116.0 Change of cash and cash equivalents-16.515.1 29© 2010 Konecranes Plc. All rights reserved.
Key figures Q1 2010 MEUR Q1 2009 MEUR % Change Sales306.3442.1-30.7 Operating profit (EBIT), including restructuring costs11.636.8-68.6 Profit before taxes12.435.4-64.9 Net profit for the period8.825.3-65.4 Cash flow from operations before financing items and taxes30.153.4 Cash flow from operating activities per share (EUR)0.010.55 Interest bearing net debt-46.637.8-223.2 Gearing (%)-12.410.0 Solidity (%)40.238.5 Return on capital employed (%), (R12M)14.650.4-71.0 Return on equity (%), (R12M)12.249.4-75.3 Equity per share (EUR)6.266.38-1.9 Investments total (excl. acquisitions)4.26.0-29.5 Personnel at end of period9 5629 866-3,1 Personnel on average during the period9 6729 885-2,2 30© 2010 Konecranes Plc. All rights reserved.
Share details and ownership information Trading information Listing: NASDAX OMX Helsinki Date of listing: March 27, 1996 Segment: Large Cap Sector: Industrials Trading code: KCR1V Q1/10 average daily trading volume 505,322 shares, EUR 10.8 million Largest shareholders on March 31, 2010Nr of shares % of all shares 1 Htt 2 Holding Ltd3,694,5005.96% 2 Gustavson Stig, Chairman of the Board of Konecranes 2,036,7723.29% 3 Varma Mutual Pension Insurance Company2,005,2753.24% 4 Nordstjernan Ab1,380,0242.23% 5 Nordea Nordenfonden1,109,5911.79% 6 Ilmarinen Mutual Pension Insurance Company1,076,9781.74% 7 Sigrid Juselius Foundation601,5000.97% 8 Mandatum Life Insurance Company Ltd.558,6950,90% 9 The State Pension Fund550,0000.89% 10 Folkhälsan non-governmental organization svenska Finland rf 535,6000.86% Konecranes’ treasury shares2,542,6004.10% Nominee registered shares29,834,74948.15% Other shareholders13,302,67621.47% Total number of shares61,872,920100,00% Market cap > EUR 1 bn © 2010 Konecranes Plc. All rights reserved.31 48% 32% 14% 7%
Contact information Pekka Lundmark, President and CEO tel. +358 (0)20 427 2000 firstname.lastname@example.org Teo Ottola, Chief Financial Officer tel.+358 (0)20 427 2040 email@example.com firstname.lastname@example.org Miikka Kinnunen, Director, Investor Relations tel: +358 (0)20 427 2050 email@example.com Anna-Mari Kautto, Assistant, Investor Relations tel. +358 (0)20 427 2960 firstname.lastname@example.org email@example.com www.konecranes.com © 2010 Konecranes Plc. All rights reserved.32
© 2010 Konecranes Plc. All rights reserved. Q INTERIM REPORT July 22, 2010 Pekka Lundmark, President and CEO Teo Ottola, CFO 1.
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