Q2 2024 Konecranes Abp Earnings Call Transcript
Key Points
- Record high comparable EBITDA margin of 14.3% across all business segments.
- Sales increased by 13% year-over-year, reaching over EUR 1 billion.
- Strong order intake in service and industrial equipment segments.
- Improved profitability driven by higher volumes, price inflation management, and strong strategy execution.
- Positive market outlook with stable demand in industrial customer segments and strong global container throughput for port solutions.
- Order intake down 11.5% compared to the previous year, despite being the strongest in the last four quarters.
- Manufacturing capacity utilization rate down in the EU and flat in the US on a year-over-year basis.
- Decrease in order intake for process cranes due to longer decision-making times influenced by high interest rates.
- Net working capital increased, leading to lower free cash flow for the quarter.
- Order book down 12% year-over-year, indicating potential challenges in maintaining future sales growth.
With me today, I have our President and CEO Anders Svensson, and our CFO Teo Ottola. Before we start a client reminder, this presentation contains forward-looking statements. Next Anders will walk you through our Q2 results. Anders will start with the Group numbers, after which Teo will focus on the business segments. The presentation is followed by Q&A. As usual but now Anders, the stage is yours.
Thank you, kiira, and welcome also from my side to this the webcast for the results of the second quarter. The headline of the quarter is a record high comparable EBITDA margin in all business segments. The demand environment remained healthy during the second quarter, even if it was down 11% on a strong comparable in the previous year.
Sales execution was strong and we delivered above EUR1 billion of sales, up 13% versus the previous year. And that gave us record high comparable
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