Q3 2024 Konecranes Abp Earnings Call Transcript
Key Points
- Konecranes Oyj (KNCRF) reported a 12.5% year-on-year increase in orders in comparable currencies, indicating strong demand.
- The company achieved an all-time high EBITA margin of 13.4% for the third quarter, driven by pricing strategies, higher volumes, and strong strategy execution.
- Excellent cash flow was reported at EUR 187 million for the quarter, showcasing effective financial management.
- Port solutions showed a strong order intake, with a 43% increase year-on-year, driven by mobile harbor cranes, straddle carriers, and automated guided vehicles.
- The service segment saw a 4.5% increase in order intake and a 7.2% increase in sales year-on-year, with growth in all regions and both field service and parts.
- The industrial equipment segment experienced a 2.7% decline in external orders year-on-year, particularly in process cranes due to delayed decision-making.
- The order book decreased by 12% year-on-year in comparable currencies, indicating potential future revenue challenges.
- Sequential decline in profitability was noted, despite strong overall performance, highlighting potential volatility.
- The Americas and APAC regions saw a decrease in order intake, which could impact regional performance.
- Interest rates are impacting customer decision-making, particularly in process cranes, leading to order delays.
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Hello everyone and welcome to KIC Cranes Q3 Earnings Conference. My name is Kira Freie and I'm the Head of Investor Relations at KIC Cranes here with me. I have today our usual people, our CEO Anders Svensson and CFO the Teo Ottola. Of course, before we go into more details, just a kind reminder that the presentation includes forward-looking statements and the agenda is as usual. First Anders Svensson will talk you through the group results after which they will focus more on the business segment data.
But I guess now we have the Q&A of course too. And I guess now and it's your turn to take over. Please go ahead. Thank
You and warm welcome from my side as well to this webcast for the third quarter result.
The headline of the quarter is continued strong performance and our demand environment held up really well. In the, in the third quarter, the orders were up 12.5% year on year in comparable currencies.
Sales were
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