Cargotec's January-March 2017 interim report: Strong start for 2017 in Hiab
(Thomson Reuters ONE) -
CARGOTEC CORPORATION, INTERIM REPORT, 26 APRIL 2017 AT 9:00 AM EEST
Cargotec's January-March 2017 interim report: Strong start for 2017 in Hiab
- Kalmar's profitability improved
- Record high orders received and operating profit margin in Hiab
- MacGregor's operating profit remained positive due to cost savings
January-March 2017 in brief: Share of software and services increased
* Orders received decreased 5 percent and totalled EUR 857 (903) million.
* Order book amounted to EUR 1,834 (31 Dec 2016: 1,783) million at the end of
the period.
* Sales declined 4 percent and totalled EUR 793 (828) million.
* Service sales totalled EUR 215 (211) million, representing 27 (25) percent
of consolidated sales.
* Software sales increased 28% and totalled EUR 35 (28) million.
* Operating profit excluding restructuring costs was EUR 59.2 (58.5) million,
representing 7.5 (7.1) percent of sales.
* Operating profit was EUR 56.3 (57.7) million, representing 7.1 (7.0) percent
of sales.
* Cash flow from operations before financial items and taxes totalled EUR
12.5 (90.8) million.
* Net income for the period amounted to EUR 36.5 (39.1) million.
* Earnings per share was EUR 0.57 (0.61).
Outlook for 2017 unchanged
Cargotec reiterates its outlook published on 8 February 2017 and expects its
operating profit excluding restructuring costs for 2017 to improve from 2016
(EUR 250.2 million).
Cargotec's key figures
MEUR Q1/17 Q1/16 Change 2016
------------------------------------------------------------------------------
Orders received 857 903 -5% 3,283
Service orders received 226 227 0% 889
Order book, end of period 1,834 2,095 -12% 1,783
Sales 793 828 -4% 3,514
Service sales 215 211 2% 872
Software sales* 35 28 28% 148
Service and software sales, % of Cargotec's sales 32 29 29
Operating profit** 59.2 58.5 1% 250.2
Operating profit, %** 7.5 7.1 7.1
Operating profit 56.3 57.7 -2% 197.7
Operating profit, % 7.1 7.0 5.6
Income before taxes 47.9 50.9 -6% 169.1
Cash flow from operations 12.5 90.8 -86% 373.0
Net income for the period 36.5 39.1 -7% 125.3
Earnings per share, EUR 0.57 0.61 -6% 1.95
Net debt, end of period 631 603 5% 503
Gearing, % 45.4 45.3 36.0
Net debt / EBITDA 2.2 2.1 1.8
Return on capital employed
(ROCE, annualised), % 9.5 10.8 8.8
Personnel, end of period 11,055 11,203 -1% 11,184
*Software sales includes Navis business unit and automation software
**Excluding restructuring costs
Cargotec's CEO Mika Vehviläinen: Record-high quarter in Hiab
The year 2017 started with a strong note, particularly at Hiab, where the orders
received and the operating profit margin reached an all-time high. Kalmar's
development as a whole was at a satisfactory level. Its profitability improved
and demand was healthy especially in mobile equipment. As in 2016, MacGregor's
market situation continued to be challenging. However, we are pleased that we
managed to keep MacGregor profitable, and that its orders received increased
compared to the last quarter of 2016.
By 2020, our goal is to increase the share of services and software to 40
percent of Cargotec's sales. Service sales grew at Hiab and Kalmar but decreased
at MacGregor as a result of the difficult market situation. Our software
business developed positively in the first quarter, which reflects our efforts
over the past few years. During the first quarter, already as much as 32 percent
of our sales came from services and software.
We see many possibilities to improve the performance of the cargo handling value
chain. With our solutions, know-how and expertise we want to help our customers
make their operations more efficient. We are proceeding well towards our target
to be the leader in intelligent cargo handling.
Reporting segments' key figures
Orders received
MEUR Q1/17 Q1/16 Change 2016
--------------------------------------------------
Kalmar 448 454 -1% 1,721
Hiab 288 275 5% 1,016
MacGregor 121 173 -30% 546
Internal orders received 0 0 -1
--------------------------------------------------
Total 857 903 -5% 3,283
Order book
MEUR 31 Mar 2017 31 Dec 2016 Change
---------------------------------------------------
Kalmar 977 900 9%
Hiab 302 286 6%
MacGregor 556 598 -7%
Internal order book -1 -1
---------------------------------------------------
Total 1,834 1,783 3%
Sales
MEUR Q1/17 Q1/16 Change 2016
----------------------------------------
Kalmar 364 367 -1% 1,700
Hiab 270 246 10% 1,036
MacGregor 160 216 -26% 778
Internal sales 0 0 -1
----------------------------------------
Total 793 828 -4% 3,514
Operating profit excluding restructuring costs
MEUR Q1/17 Q1/16 Change 2016
------------------------------------------------------------------------
Kalmar 27.9 25.6 9% 135.3
Hiab 39.6 32.4 22% 140.0
MacGregor 2.4 9.2 -74% 17.9
Corporate administration and support functions -10.7 -8.7 -42.9
------------------------------------------------------------------------
Total 59.2 58.5 1% 250.2
Operating profit
MEUR Q1/17 Q1/16 Change 2016
------------------------------------------------------------------------
Kalmar 26.6 25.2 6% 115.6
Hiab 39.5 32.2 23% 138.8
MacGregor 1.8 9.0 -80% -13.7
Corporate administration and support functions -11.7 -8.7 -42.9
------------------------------------------------------------------------
Total 56.3 57.7 -2% 197.7
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 11.00 a.m. EEST
at Cargotec's head office, Porkkalankatu 5, Helsinki. The event will be held in
English. The report will be presented by CEO Mika Vehviläinen and Executive Vice
President, CFO Mikko Puolakka. The presentation material will be available at
www.cargotec.com by latest 10.00 a.m. EEST.
The telephone conference, during which questions may be presented, can be
accessed using the following numbers with access code Cargotec/7125297:
FI: +358 9 7479 0404
SE: +46 8 5065 3942
UK: +44 330 336 9411
US: +1 719 457 2086
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.
For further information, please contact:
Mikko Puolakka, Executive Vice President and CFO, tel. +358 20 777 4105
Hanna-Maria Heikkinen, Vice President, Investor Relations, tel. +358 20 777 4084
Cargotec (Nasdaq Helsinki: CGCBV) enables smarter cargo flow for a better
everyday with its leading cargo handling solutions and services. Cargotec's
business areas Kalmar, Hiab and MacGregor are pioneers in their fields. Through
their unique position in ports, at sea and on roads, they optimise global cargo
flows and create sustainable customer value. Cargotec's sales in 2016 totalled
approximately EUR 3.5 billion and it employs over 11,000 people.
www.cargotec.com
Cargotec's Q1 2017 interim report:
http://hugin.info/135578/R/2098809/795058.pdf
This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq 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
Unternehmensinformation / Kurzprofil:
Datum: 26.04.2017 - 08:00 Uhr
Sprache: Deutsch
News-ID 538366
Anzahl Zeichen: 10504
contact information:
Town:
Helsinki
Kategorie:
Business News
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