Sales at €306.3m declined by 30.7% from €442.1m with service sales down 12.8% and equipment sales significantly down by 39%. Profitability at €11.6m was down from €36.8m.
Konecranes’ current thinking is that although it expects market uncertainty to continue with no visible signs of a credible market recovery, the demand for maintenance services will continue to improve as a result of higher capacity utilisation within the industry.
Unfortunately Konecranes sees demand for new equipment to remain generally at a low level because of customers’ overcapacity with price competition likely to remain high.
An anticipated lower order book lower than that of a year ago, means that operating profit (before restructuring costs) will also be lower than in 2009.