Cargotec Pro Forma Review January-June 2005

- Orders received were EUR 1,216 (1-6/2004: 1,213) million. During the
second quarter, orders received were EUR 571 (4-6/2004: 677) million.
- The order book grew from the beginning of the year and totalled EUR
1,252 (December 31, 2004: 1,180) million on June 30, 2005.
- Net sales were EUR 1,154 (1-6/2004: 891) million. Net sales during the
second quarter were EUR 610 (4-6/2004: 487) million.
- Operating income was EUR 83.8 (1-6/2004: 52.3) million, of which the
second quarter accounted for EUR 48.6 (4-6/2004: 32.5) million.
- Cash flow from operations was EUR 15.6 (1-6/2004: 71.4) million.
- Net income was EUR 53.8 (1-6/2004: 34.2) million.
- Earnings per share were EUR 0.84 (1-6/2004: 0.54).

Cargotec Corporation was listed on the Helsinki Stock Exchange on June 1, 2005.
In this pro forma review Cargotec's January-June 2005 result is presented based
on the business and corporate structure following the demerger of Kone
Corporation. The comparison figures for 2004 have been calculated according to
the same structure to facilitate the evaluation of the Company. Hence,
MacGREGOR's marine cargo flow business is included in these pro forma
figures. The review has been prepared according to IFRS.

Cargotec's President and CEO Carl-Gustaf Bergström:

"The second quarter of the year was better than we expected. As we estimated in
our previous review, we received slightly fewer orders than during the
comparison period, but the markets continued, nevertheless, stronger than
expected. Our operating model based on product development, assembly and service
has shown its effectiveness and has enabled a significant increase in sales and
a strong improvement in profits," states President and CEO Carl-Gustaf
Bergström.

 

 

The full report including tables can be downloaded from the enclosed link