Cargotec reduces 2012 profitability guidance
CARGOTEC CORPORATION, STOCK EXCHANGE RELEASE, 12 JUNE 2012 AT 9.15 A.M. (EEST)
Cargotec reduces its 2012 profitability guidance given in April due to lower operating result in Terminals segment than previously expected. Cargotec's 2012 operating profit margin is expected to be approximately 6 percent. Sales are still expected to grow from 2011. Earlier guidance was for sales to grow and operating profit margin to improve from previous year's 6.6 percent level. Terminals and Load Handling segments' operating profit margins are still expected to improve from the previous year, but the margin improvement in Terminals will be clearly less than previously expected.
Cargotec will initiate actions to improve efficiency and profitability in its Terminals and Load Handling segments.
For further information please contact:
Mikael Mäkinen, President and CEO, tel. +358 20 777 4101
Eeva Sipilä, Executive Vice President, CFO, tel. +358 20 777 4104
Paula Liimatta, Director, Investor Relations, tel. +358 20 777 4084
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 3.1 billion in 2011 and it employs approximately 10,500 people. Cargotec's class B shares are listed on the NASDAQ OMX Helsinki under the symbol CGCBV. www.cargotec.com