Cargotec’s Interim Report January–September 2009 – Demand unchanged
Cargotec Corporation INTERIM REPORT 22 October 2009 at 1.00 pm EEST
Report Highlights – January–September
- Orders received totalled EUR 1,364 (1–9/2008: 3,136) million.
- Order book was EUR 2,371 (31.12.2008: 3,054) million at the end of the reporting period.
- Sales declined 23 percent and were EUR 1,912 (1–9/2008: 2,476) million.
- Operating profit excluding restructuring costs was EUR 29.6 (156.9) million, representing 1.5 (6.3) percent of sales.
- Operating result was EUR -7.1 (156.9) million. Operating result includes EUR 36.7 (0.0) million of restructuring costs.
- Cash flow from operating activities before financial items and taxes totalled EUR 198.7 (158.1) million.
- Net income for the period amounted to EUR -5.9 (111.9) million.
- Earnings per share was EUR -0.13 (1.77).
Report Highlights – third quarter
- Orders received totalled EUR 437 (7–9/2008: 967) million.
- Sales declined 34 percent and were EUR 559 (848) million.
- Operating profit excluding restructuring costs was EUR 11.6 (49.6) million, representing 2.1 (5.8) percent of sales.
- Operating result was EUR -3.3 (49.6) million. Operating result includes EUR 14.9 (0.0) million of restructuring costs.
Cargotec’s President and CEO Mikael Mäkinen:
“We have initiated significant structural changes and restructuring measures in order to improve efficiency and competitiveness. I am very satisfied with the commitment of our organisation to the change, although we have had to make tough decisions to adjust our cost structure. The cost savings are already beginning to improve our profitability. The current weak demand for cargo handling equipment is something we cannot impact, but with the restructuring, we are stronger than ever when the market recovers”, states President and CEO Mikael Mäkinen.
Press Conference for analysts and media:
A press conference for analysts and media will be combined with a live international telephone conference and arranged on the publishing day at 4.00 pm (EEST) at Cargotec’s head office, Sörnäisten rantatie 23, Helsinki. The event will be held in English. The interim report will be presented by President and CEO Mikael Mäkinen. The presentation material will be available on www.cargotec.com by 4.00 pm (EEST).
The telephone conference, during which questions may be presented, may be accessed at the following numbers ten minutes before the beginning of the event: US callers +1 646 843 4608, non-US callers +44 20 3023 4412, access code Cargotec Corporation.
The event can also be viewed as a live webcast at www.cargotec.com. An on-demand audiocast of the conference will be published on Cargotec’s website later during the day.
A replay of the conference call will be available until 5.00 pm 24 October 2009 (EEST), in the following numbers: US callers +1 866 583 1035, non-US callers +44 20 8196 1998, access code 136498#.
The entire report is available in the attached file.
For further information, please contact:
Eeva Sipilä, CFO, tel. +358 204 55 4281
Paula Liimatta, IR Manager, tel.+358 204 55 4634
Cargotec improves the efficiency of cargo flows by offering solutions for the loading and unloading of goods on land and at sea – wherever cargo is on the move. Cargotec’s main daughter brands for cargo handling Hiab, Kalmar and MacGregor are global market leaders in their fields. Cargotec’s global network offers extensive services that ensure the continuous, reliable and sustainable performance of equipment. Cargotec’s sales totalled EUR 3.4 billion in 2008 and it employs approximately 10,500 people. Cargotec’s class B shares are quoted on the NASDAQ OMX Helsinki. www.cargotec.com