4/23/2007 12:00 PM|
Cargotec Corporation, Stock Exchange Release, April 23, 2007 at 12:00 p.m. Finnish time
• Orders received during the first quarter were record high totaling EUR 915
(1–3/2006: 805) million.
• The order book grew due to the strong order intake and on March 31, 2007 totaled EUR 1,811 (December 31, 2006: 1,621) million.
• First quarter net sales grew by 13 percent and amounted to EUR 694 (1–3/2006: 614) million.
• Operating profit improved to EUR 57.9 (1–3/2006: 50.9) million.
• Cash flow from operating activities before financial items and taxes totaled EUR 52.1 (1–3/2006: 40.6) million.
• Net income for the reporting period amounted to EUR 39.4 (1–3/2006: 33.9) million.
• Earnings per share were EUR 0.62 (1–3/2006: 0.52).
• General market activity is expected to remain healthy. Development of the services business will continue during the year in line with Cargotec's strategy. Following the record high order intake in the first quarter Cargotec's full year 2007 order intake is expected to surpass net sales. Net sales growth including acquisitions is expected to clearly exceed 10 percent. Cargotec's operating margin in 2007 is expected to be on the level of last year's operating margin from operations before on-going growth and efficiency related investments as well as purchase price allocation treatment of acquisitions.
Cargotec's President and CEO Mikael Mäkinen:
"The amount of orders received during the first quarter is an excellent achievement. The quarter profited from more big orders than we had anticipated. Year 2007 is an important investment year in order to achieve our strategic targets. During the beginning of the year we have realized a sizeable number of important acquisitions and, in line with our plans, initiated projects for the further development of our services business and strengthening of our knowledge base. These investments will affect operating profit in the short-term but their positive impact will start to materialize from next year."
An analyst and press conference
An analyst and press conference (in Finnish) will be arranged on Monday, April 23, 2007 at 2.00 p.m. Finnish time at Cargotec's head office, Sörnäisten rantatie 23, Helsinki. The interim report will be presented by Cargotec's Senior Executive Vice President and CFO Kari Heinistö.
An international telephone conference for analysts and investors will be held at 4.00 p.m.
Finnish time. The presentation material will be available on the Company's internet pages by 2.00 p.m. Finnish time.
The conference call phone numbers are the following:
+1 617 614 3946 (if calling from the U.S.)
+44 20 7365 8426 (if calling from rest of world)
Access code: Cargotec Corporation
The telephone conference can also be viewed as a live audio webcast through the internet pages at www.cargotec.com starting at 4.00 p.m. Finnish time. The archived webcast will be available on the internet pages later the same day.
The entire Interim Report including tables is available in attached pdf files.
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 is the world's leading provider of cargo handling solutions whose products are used in the different stages of material flow in ships, ports, terminals, distribution centers and local transportation. Cargotec Corporation's brands, Hiab, Kalmar and MacGREGOR, are market leaders in their fields and well-known among customers all over the world. Cargotec's net sales are EUR 2.7 billion. The company employs approximately 9,000 people and operates in close to 160 countries. Cargotec's class B shares are quoted on the Helsinki Stock Exchange.