Worsening of the economic performances of Konecranes in according to trimester



In according to trimester of this year recorded economic results from the means producer of Konecranes raising considerably they are gotten worse. The Finnish group clearly has archived item the period with a profit of 11,1 million euros on revenues for 519,9 million euros, with decreases respective of the -52,0% and the -7,6% on the period April-june last year. The EBITDA is piled to 28,3 million euros (- 38.3%) and the operating result to 17,2 million euros (- 50.8%).

In entire the first semester of the 2013 Konecranes it has totaled a profit clearly of 22,0 million euros on revenues for 1,015, 8 million euros, down respective of the -41,4% and the -2,0% on the first half of 2012. The EBITDA has been attested to 57,6 million euros (- 27.7%) and the operating result to 36,1 million euros (- 38.9%).

In according to trimester of this year new orders obtained from the Finnish group they have been pairs to 503,0 million euros, with a contraction of the -9,2% regarding 553,7 million euros in according to trimester of 2012. In the single field of the means production of raising the new orders have recorded a bending of the -14,1%, while the orders to the division Service di Konecranes are increased of 5.3%.

In entire the first semester of the 2013 new orders they have reached a value of 1.085, 7 million euros, with a decrease of -0,2% (Service +2.2% and Equipment -0,6%) regarding 1.088, 3 million euros in the first six months last year. The value of the pocketbook orders of the group on 30 June had a consistency of 1.079, 4 million euros, down of the -3,9% regarding 1.122, 8 million euros on June 30, 2012.

"As already announced in June - it has commented today the president and managing director of Konecranes, Pekka Lundmark - our result of the second half of the year he has been inferior regarding that of the correspondent period of the year precedence and it has not satisfied our expectations. The inferior volume of deliveries has not been a given surprise the minor collection of orders at the end of 2012, than now it has entered in the phase of delivery. However the result is burdened by unexpected and elevated costs for eight million euro in some projects for heavy industrial cranes. We expect a clean resumption of the profits towards the turn of the year on the wake of the collection of orders in the course of the first half of 2013, of the mix of producing in the orderbook let alone for the measures of restructure announced".

Konecranes in fact has decided to put into effect measures in order to reduce the costs anniversaries of 30 million euros within the end of 2014, of which a two third party in the Equipment division and a third party in that Service. Such measures preview the consolidation and the transfer of productive activities between the plants of the group, the optimization and the improvement of the productivity, the consolidation and the improvement of the administrative activities and the functions of support, the consolidation of business activities with the cover of immenser areas and the restructure of not performing activities. Such measures will involve a reduction of job 600 places on current the 12,000 about of the group.

"The world - it has found Lundmark - is changing quickly and we cannot wait for us that the world-wide economy offers much aid to our increase. Moreover we preview that they will continue the difficulties on the front of the prices. Our total costs - it has emphasized - too much are elevated for our perspectives of volume and have the intention of adapt to our base of the costs and the dimension of our organization to the truths of the market. Besides the fixed cost reduction - it has specified Lundmark - we are preparing various initiatives in order to rationalize ours supply chain to the aim to reduce the variable costs. There is also a potential one of saving in our not relative expenses to the staff, but unfortunately - it has concluded - the effects on the staff cannot be avoided".