Thursday , 19 September 2019
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Konecranes reports mixed first quarter

Konecranes’ port solutions sector reported a year-on-year loss of 8.5% in orders received in the first quarter of 2018, as operating profit fell by 1.1% to €3.1m (US$3.75m).

The company’s orders received totalled €226.2m (US$273.83m) and Konecranes said orders in Europe, Middle East and Africa (EMEA) and the Americas fell due to the timing of projects, which subsequently impacted on orders for heavier container handling equipment. However, orders in the Asia-Pacific region did grow.

Panu Routila, president and CEO of Konecranes, said: “The global economy still looks strong, especially in the US, where key macroeconomic indicators continued to improve.

“That said, Europe has started to show signs of slowing growth, as capacity constraints have begun to hinder general economic activity.”

Despite the fall in orders received, the port solutions order book increased by 3% to €836.2m (US$1.01bn) while sales increased by 10.6% to €200.6m (US$242.84m).

The growth in sales was cited as a factor behind the improvement in earnings before interest, tax and amortisation (EBITA), which stood at €6.2m (US$7.51m), up from €2.6m (US$3.15m) last year. The EBITA margin rose from 1.4% to 3.1%, which Konecranes attributed to the growth in sales.