Konecranes Look Back on a Good Year

Press Release
Friday, February 01, 2013

Konecranes PLC issues its Q4 and full year 2012 financial statement and bulletin.

Excerpts from the statement made by President and CEO Pekka Lundmark:

I am pleased with many aspects of our performance in 2012. In a marketplace where uncertainty and customers' hesitation to make decisions has become the new norm, a 14 percent growth in sales to a new record level of EUR 2,170 million was a good achievement.

Operating profit before restructuring costs rose by 18 percent to EUR 138 million and earnings per share 32 percent to EUR 1.46. Cash flow was strong, reducing our gearing to below 40 percent. All in all, 2012 was a good year, but we aim higher.

A year ago, we decided that our service business should prioritize profitability over growth in the short term. The reason was clear: heavy investments in growth, combined with execution issues, had resulted in an EBIT margin of only 7.0 percent in 2011.

The profitability of the equipment business developed satisfactorily in a challenging market environment during the first three quarters of 2012, but the last quarter was weaker. There were both market structure issues, such as low industrial cranes demand in some Western markets, and various operational issues. We are now prioritizing profitability over growth in the equipment business in the same way that we did in the service business a year ago. We announced restructuring measures at the beginning of the year, with the main objective of reallocating resources from Western markets to emerging ones.

 

Maritime Reporter May 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Stena Sonangol Suezmax Pool Rings in 10 Years

Stena Sonangol Suezmax Pool celebrates 10 years of collaboration and trading.   The 10th anniversary celebrations took place in London on May 20. Today on May 26 it is Houston’s turn and,

UNOLS Seeks Fleet Improvement Committee Chair

The University-National Oceanographic Laboratory System (UNOLS) informs it is seeking nominations to fill a Fleet Improvement Committee (FIC) Chair position.   The position,

Former Petrobras Exec Sentenced to 5 Years Jail

A Brazilian judge sentenced a former international director at state-run oil firm Petroleo Brasileiro SA to five years in prison for money laundering on Tuesday,

Finance

Former Petrobras Exec Sentenced to 5 Years Jail

A Brazilian judge sentenced a former international director at state-run oil firm Petroleo Brasileiro SA to five years in prison for money laundering on Tuesday,

Rising from the Ashes

The federal government is now taking steps to reverse its 2010 decision to terminate the nation’s LORAN program. The LORAN program was initiated during World War II,

Training: Cutting Costs While Remaining Cutting Edge

Businesses are operating in tough economic times, with budgets being significantly cut during the current industry downturn. Unfortunately, when lowering costs is a key priority,

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Offshore Oil Port Authority Salvage Ship Electronics Ship Simulators Sonar Winch
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1818 sec (6 req/sec)