Ukraine-Russia war takes toll on Konecranes’ operating profit for Q1 2022
Konecranes has lost €47m (US$50.7m) in operating profit in the first quarter of 2022 as a result of the war in the Ukraine, having stopped production at its Ukrainian factory and cancelled orders from and sales to Russia.
Production at its crane and component factory in Zaporizhzhia in the south-eastern part of Ukraine was stopped after the war started.
The planned production has been redirected to other Konecranes manufacturing sites and, as the level of uncertainty regarding Konecranes’ operations in Ukraine remains high due to the ongoing war, Konecranes has impaired all Ukraine related assets in the first quarter.
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