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Stock Exchange Release

Cargotec reduces its full-year 2013 guidance

10/15/2013

CARGOTEC CORPORATION, STOCK EXCHANGE RELEASE, 15 OCTOBER 2013 AT 9.00 AM EEST
 
Cargotec reduces its full-year 2013 guidance given in July. Due to continued slippage in merchant ship deliveries, MacGregor's sales and operating profit for the second half of 2013 will be lower than expected. However, the underlying merchant marine market has continued to improve and the offshore market has remained active. In Kalmar, overall development in the third quarter has been positive, but there were further cost overruns in certain ship-to-shore crane projects.
 
The sales and operating profit excluding restructuring costs for 2013 are expected to fall short of 2012. Earlier guidance was for sales to be slightly below 2012 and operating profit excluding restructuring costs to be at or slightly below 2012 level.
 
According to preliminary results, Cargotec's third quarter order intake was EUR 724 million, sales EUR 752 million and operating profit excluding restructuring costs EUR 35 million. MacGregor's preliminary third quarter sales were EUR 200 million and operating profit margin excluding restructuring costs 8.9 percent. EUR 9 million of additional costs for Kalmar projects were booked in the third quarter.
 
Cargotec will report its third quarter results on 24 October 2013.
 
Further information:
Eeva Sipilä, Executive Vice President, CFO, tel. +358 20 777 4105
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 brands MacGregor, Kalmar and Hiab 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 3.3 billion in 2012 and it employs approximately 10,000 people. Cargotec's class B shares are quoted on NASDAQ OMX Helsinki under symbol CGCBV. www.cargotec.com