Cargotec specifies upwards its operating profit guidance for 2010
CARGOTEC CORPORATION, STOCK EXCHANGE RELEASE, 18 OCTOBER 2010 AT 9 AM (EEST)
Based on the operational performance in the third quarter and particularly in September, Cargotec's visibility on the timing and profitability of deliveries during the remainder of the year has increased. As a result Cargotec specifies upwards its operating profit guidance. Operating profit for 2010 is estimated to be in the range of EUR 120-130 million. Earlier operating profit was estimated to exceed EUR 100 million. Both the previous and now specified operating profit guidance includes one-time restructuring costs.
Cargotec repeats its sales guidance published in July. Cargotec's 2010 sales are estimated to be on 2009 level for both Industrial & Terminal and Marine reporting segments.
Cargotec will publish its January-September interim report on Wednesday 27 October at 8:30 a.m. EEST.
For further information please contact,
Mikael Mäkinen, President and CEO, tel. +358 204 55 4243
Paula Liimatta, IR Manager, tel. +358 204 55 4634
Cargotec improves the efficiency of cargo flows on land and at sea - wherever cargo is on the move. Cargotec's daughter brands, Hiab, Kalmar and MacGregor are recognised leaders in cargo and load handling solutions around the world. Cargotec's global network is positioned close to customers and offers extensive services that ensure the continuous, reliable and sustainable performance of equipment. Cargotec's sales totalled EUR 2.6 billion in 2009 and it employs approximately 9,500 people. Cargotec's class B shares are quoted on the NASDAQ OMX Helsinki. www.cargotec.com