Konecranes Upbeat for 2023

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Despite the fragility of supply chains globally, Konecranes is predicting it will see increases in net sales in 2023.

This is according to Anders Svensson, CEO, who reported that the company saw improved EBITA margins over 2022, even though challenges in availability of materials remain.

For Q2 2023, key indicators over Q2 2022 included:

Order intake €1,092.9 million, +1.0 percent (+3.5 percent on a comparable currency basis)
Order book €3,411.4 million at the end of June, +20.7 percent (+25.1 percent on a comparable currency basis)

While for H1 2023, the following summary applies over H1 2022:

Order intake €2,382.5 million, +9.3 percent (+10.4 percent on a comparable currency basis)
Sales €913.0 million, +16.0 percent (+18.7 percent on a comparable currency basis)

A summary of the company’s performance indicators are shown in Table 1.

Table 1: Konecranes Performance Indicators – Q2 2023 vs Q2 2022 and H1 2023 vs H1 2022

Previous year restated due to the change in reporting for including agreement base sales in orders received
	Second quarter			January - June
	4-6/ 2023	4-6/ 2022	Change %	1-6/ 2023	1-6/ 2022	Change %
Orders received, €million ¹	1,092.9	1,082.1	1.0	2,382.5	2,179.7	9.3
Order book at end of period, €million				3,411.4	2,825.4	20.7
Sales total, €million	913.0	787.1	16.0	1,812.3	1,459.2	24.2
Operating profit, €million	98.0	48.2	103.3	183.7	28.7	541.2
Operating margin, %	10.7%	6.1%		10.1%	2.0%

Svensson offered the following summary on activities in 2023: “Konecranes’ Q2 financial performance was strong. Both orders received and sales grew year-on-year. We posted a record-breaking Q2 comparable EBITA margin of 10.8per cent powered by continued good delivery capability and a positive pricing impact. Our all-time high orderbook of €3.4 billion and continued strong performance provide a solid foundation for reaching our new, ambitious financial targets.”

He clearly remains upbeat for the remainder of 2023, explaining: “Our demand environment within industrial customer segments has remained good and continues on a healthy level, despite the weakened global macro indicators and some signs of weakening in all three regions.”

However, there is also a note of caution here too, with the company stating that the “worldwide demand picture remains subject to volatility and uncertainty” adding that while long-term prospects for container handling are expected to be “good overall,” there is one trend being monitored: “We have started to see hesitation in decision-making in the short term among some port customers,” said Svensson.

Konecranes has commenced Q3 2023 strongly, announcing that an order has been placed by CMA CGM Kaohsiung Terminal Co. Ltd to supply seven hybrid Konecranes Noell Rubber-Tyred Gantry (RTG) cranes to its facility in Taiwan. Handover for operations is scheduled for Q4 2024. The combined diesel and electric power units see lower fuel use and reduced carbon emissions, while also benefitting from using of GPS for the Auto-Steering smart feature, which helps the operator keep the RTG on a straight drive path.