KONECRANES PLC CORPORATE PRESS RELEASE MARCH 19, 2024 09:30 AM EET
Changes in reporting Industrial Equipment's order intake and net sales with an impact on Industrial Equipment's reported profitability
Konecranes has decided to make changes in reporting Industrial Equipment's orders received and net sales, which will also impact Industrial Equipment's profitability.
Some of Port Solutions' key components are manufactured at Konecranes' Industrial Equipment factory in Hyvinkää. As these internal orders from Port Solutions have increased in recent years, Konecranes has decided to report the Hyvinkää factory's orders and sales without booking internal transactions between the two Business Segments. The change will enhance transparency of financial reporting.
Starting from Q1 2024, Industrial Equipment's orders received at Konecranes' Hyvinkää factory do not include internal orders received from Konecranes' Port Solutions. Accordingly, Industrial Equipment's sales do not include Hyvinkää factory's internal sales to Port Solutions. This change does not impact Industrial Equipment's operating profit, but it will have an impact on reported profitability as the reporting of net sales changes. The change does not affect Port Solutions' or Konecranes' consolidated Group figures.
As a result of the change, Konecranes has restated Industrial Equipment's figures for 2023.
The restated Industrial Equipment's figures for 2023 are the following:
EUR in million | Q1/2023 | Q2/2023 | Q3/2023 | Q4/2023 | 1-12/2023 |
Orders received |
440.6 |
332.0 |
297.2 |
284.5 |
1,354.4 |
Sales |
308.3 |
304.8 |
301.2 |
341.4 |
1,255.8 |
Comparable EBITA |
22.7 |
17.9 |
22.9 |
23.9 |
87.4 |
Comparable EBITA, % |
7.4% |
5.9% |
7.6% |
7.0% |
7.0% |
Operating profit (EBIT) |
20.1 |
24.7 |
3.6 |
18.4 |
66.9 |
Operating profit, % |
6.5% |
8.1% |
1.2% |
5.4% |
5.3% |
The reported Industrial Equipment's figures for 2023 were the following:
EUR in million | Q1/2023 | Q2/2023 | Q3/2023 | Q4/2023 | 1-12/2023 |
Orders received |
465.2 |
348.0 |
325.3 |
304.4 |
1,442.9 |
Sales |
331.3 |
330.4 |
323.9 |
369.7 |
1,355.3 |
Comparable EBITA |
22.7 |
17.9 |
22.9 |
23.9 |
87.4 |
Comparable EBITA, % |
6.8% |
5.4% |
7.1% |
6.5% |
6.5% |
Operating profit (EBIT) |
20.1 |
24.7 |
3.6 |
18.4 |
66.9 |
Operating profit, % |
6.1% |
7.5% |
1.1% |
5.0% |
4.9% |
Konecranes publishes its January-March 2024 Interim Report on April 25, 2024.
KONECRANES PLC
Kiira Fröberg
Vice President, Investor Relations
FURTHER INFORMATION
Kiira Fröberg,
Vice President, Investor Relations,
tel. +358 (0) 20 427 2050
Konecranes is a global leader in material handling solutions, serving a broad range of customers across multiple industries. We consistently set the industry benchmark, from everyday improvements to the breakthroughs at moments that matter most, because we know we can always find a safer, more productive and sustainable way. That's why, with around 16,600 professionals in over 50 countries, Konecranes is trusted every day to lift, handle and move what the world needs. In 2023, Group sales totalled EUR 4.0 billion. Konecranes shares are listed on Nasdaq Helsinki (symbol: KCR).
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