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17 May 2022 The on-line newspaper devoted to the world of transports 13:22 GMT+2

April 27, 2022

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Konecranes closes an unsatisfactory quarter in terms of financial results but excellent in terms of new orders

For the first time, the value of orders exceeded billion euros

If in the first quarter of this year the Finnish company Konecranes, which produces handling and lifting equipment, has recorded financial performance in sharp decline, registering in balance sheet a value of the operating result that is a sign negative for the first time in many years (the most distant data financials of the company in possession of our newspaper date back to 1999), however in the Konecranes period it was also conquered a considerable amount of orders whose value has exceeded for the first time the threshold of one billion euros and that has significantly enriched the order book, which has risen to a record level.

In the first three months of 2022, revenues amounted to 672.1 million euro, with a decrease of -4.5% on the same period last year, reduction in turnover that was more accentuated in relation to the Port division only Solutions of the Finnish group, which produces vehicles for port use, business segment in which revenues declined by -25.4% falling to 176.0 million euros. The operating result was, as mentioned, of a negative sign and equal to -19.5 million of euro compared to an operating profit of 37.5 million in the first quarter of 2021. The contribution of the Port Solutions division to the operating result was negative for -20.1 million euro (profit of 15.6 million in the first quarter of last year). After 17 consecutive quarters ended in profit, Konecranes filed the first quarter of this year with a net loss of -21.3 million euro compared to a net profit of 18.4 million in the corresponding period of 2021.

In the first three months of this year the record value of the new orders acquired by Konecranes was 1.03 billion euro (+35.0%), with a record value even in relation to the orders to the Port Solutions division totalling 426.6 million euros (+54.8%). The value of new orders does not include orders for 78.9 million euros with Russia (of which 18.9 million for Port Solutions) that have been deleted as a result of the invasion of Ukraine by Moscow's troops. At 31 last March the value of the group's orderbook reached the historical record of 2.48 billion euros compared to 1.87 billion at March 31, 2021.

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