Cargotec Pro Forma Review January-June 2005
7/19/2005 11:50 AM|
July 19, 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 entire release including tables is available in attached pdf file.
Senior Executive Vice President and CFO
SVP, Investor Relations and Communications
For further information, please contact:
Kari Heinistö, Senior Executive Vice President and CFO tel. +358 204 55 4256
Eeva Mäkelä, SVP, Investor Relations and Communications tel. +358 204 55 4281
Cargotec Corporation is the world's leading provider of cargo-handling solutions for ships, ports, terminals and local distribution. Its three business areas, Kalmar, Hiab and MacGREGOR operate in materials hubs. Net sales of Cargotec were approximately EUR 1.9 billion in 2004. The company has approximately 7,300 employees and operates in over 140 countries. Cargotec's class B shares are listed on the Helsinki Stock Exchange.