As preliminarily communicated in the stock exchange release on June 19, 2013, Konecranes’ profitability development has been unsatisfactory amid the current challenging business environment, the company said in a news release. In addition, the economic environment remains uncertain, and Konecranes said it will prepare accordingly. The company is planning new measures to reduce annual cost base by EUR 30 million by the end of 2014 of which roughly two-thirds relates to the Business Area Equipment and one-third to the Business Area Service. Furthermore, Konecranes is planning new actions to reach savings in variable costs. The total cash-based restructuring costs are estimated at maximum EUR 20 million for the years 2013 to 2014.