He continued: “Both our new orders and sales are growing faster than the market, and we are clearly continuing to win market share from most of our key competitors. The demand outlook for the third quarter looks stable.”
The second quarter 9% EBIT margin (not including the capital gain from the sale of real estate) also met expectations. In the second quarter last year this number was 6.2%. The margin development was, however, uneven.
Service already came close to its published 12% EBIT margin target. Standard lifting even exceeded its target and reported a 14.5% margin. The 12% target, however, remained unchanged for standard lifting.
“Due to costs related to ongoing investments, product portfolio restructurings and supply chain development, it would not be prudent to forecast heavy lifting to increase its full year EBIT margin from last year’s level,” Lundmark said.
Gearing has now fallen below 40% (having been over 100% a year ago due to two large acquisitions) and “we again have financial resources to continue to acquire businesses. Markets are still fairly fragmented, and we believe that attractive consolidation opportunities will be available,” Lundmark concluded.
Konecranes president and CEO Pekka Lundmark Pekka Lundmark
