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Konecranes Plc Interim Report January-March 2019: Strong Growth In Group Orders

Konecranes has applied IFRS 16 Leases standard since January 1, 2019. The figures for comparison period 2018 have not been restated. Please refer to note 4 for more details on the implementation of IFRS 16 standard and other significant accounting policies.

Figures in brackets, unless otherwise stated, refer to the same period a year earlier.

FIRST QUARTER HIGHLIGHTS
– Order intake EUR 848.1 million (683.1), +24.2 percent (+22.2 percent on a comparable currency basis), with solid growth in all Business Areas.
– Service order intake EUR 255.4 million (238.5), +7.1 percent (+3.8 percent on a comparable currency basis)
– Order book EUR 1,877.6 million (1,575.8) at the end of March, +19.1 percent (+17.0 percent on a comparable currency basis)
– Sales EUR 758.2 million (672.8), +12.7 percent (+10.8 percent on a comparable currency basis), driven by all three Business Areas.
– Adjusted EBITA margin 6.4 percent (5.5) and adjusted EBITA EUR 48.3 million (37.2), reflecting sales volume growth and synergy cost saving measures
– Operating profit EUR 27.3 million (23.8), 3.6 percent of sales (3.5)
– Earnings per share (diluted) EUR 0.17 (0.11)
– Free cash flow EUR 28.0 million (-2.2)
– Net debt EUR 649.0 million (524.3) and gearing 53.8 percent (43.8), increase resulting from the implementation of the new IFRS 16 standard on leases

DEMAND OUTLOOK
Despite weakening global macro indicators, our overall demand environment within the industrial customer segments is stable and continues on a healthy level. Also, global container throughput is still on a good level, even with its decline in the beginning of 2019. Consequently, the prospects for orders related to container handling remain stable.

FINANCIAL GUIDANCE
Konecranes expects sales in full year 2019 to increase 5-7 percent year-on-year. Konecranes expects the adjusted EBITA margin to improve in full year 2019 compared to full year 2018.
Source: Konecranes

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