- Good level of orders received at Kalmar and Hiab
- Service orders received increased by 16 percent
- Restructuring costs weakened the result
From the beginning of 2018, Cargotec applies the new IFRS 15 and IFRS 9 accounting standards as well as the amendments te in Note 2, standard. Accounting principles and new accounting standards. Cargotec has also aligned the definitions of the equipment, service and software businesses from the beginning of 2018. The data for the comparison period 2017 has been restated accordingly. Cargotec has published a stock exchange release on 28 March 2018.
Outlook for 2018 unchanged
Cargotec reiterates its outlook published on 8 February 2018 and expects its operating profit excluding restructuring costs for 2018 to improve from 2017 (EUR 258.6 million, IFRS 15 restated).
Cargotec's key figures
MEUR
|
Q2/18
|
Q2/17
|
Change
|
Q1-Q2/18
|
Q1-Q2/17
|
Change
|
2017
|
Orders received
|
981
|
800
|
23%
|
1,844
|
1,657
|
11%
|
3,190
|
Service orders received
|
248
|
214
|
16%
|
488
|
449
|
9%
|
896
|
Order book, end of period
|
1,786
|
1,717
|
4%
|
1,786
|
1,717
|
4%
|
1,566
|
Sales
|
816
|
836
|
-2%
|
1,589
|
1,628
|
-2%
|
3,250
|
Service sales
|
235
|
223
|
5%
|
460
|
446
|
3%
|
907
|
Software sales*
|
29
|
42
|
-31%
|
61
|
78
|
-22%
|
152
|
Service and software sales,
% of Cargotec's sales |
32%
|
32%
|
33%
|
32%
|
33%
| ||
Operating profit
|
21.3
|
58.9
|
-64%
|
74.5
|
114.9
|
-35%
|
222.1
|
Operating profit, %
|
2.6%
|
7.0%
|
4.7%
|
7.1%
|
6.8%
| ||
Operating profit**
|
56.3
|
70.6
|
-20%
|
113.2
|
129.5
|
-13%
|
258.6
|
Operating profit**, %
|
6.9%
|
8.4%
|
7.1%
|
8.0%
|
8.0%
| ||
Income before taxes
|
15.5
|
49.9
|
-69%
|
62.0
|
97.6
|
-36%
|
189.2
|
Cash flow from operations before financing items and taxes
|
26.5
|
40.2
|
-34%
|
22.8
|
52.6
|
-57%
|
253.5
|
Net income for the period
|
2.3
|
36.4
|
-94%
|
36.0
|
72.6
|
-50%
|
132.7
|
Earnings per share, EUR
|
0.03
|
0.56
|
-95%
|
0.55
|
1.13
|
-51%
|
2.05
|
Interest-bearing net debt, end of period
|
589
|
599
|
-2%
|
589
|
599
|
-2%
|
472
|
Gearing, %
|
42.7%
|
42.7%
|
42.7%
|
42.7%
|
33.1%
| ||
Interest-bearing net debt / EBITDA***
|
2.3
|
2.2
|
2.3
|
2.2
|
1.6
| ||
Return on capital employed
(ROCE), annualised, % |
6.5%
|
10.0%
|
6.5%
|
10.0%
|
9.6%
| ||
Personnel, end of period
|
11,502
|
11,147
|
3%
|
11,502
|
11,147
|
3%
|
11,251
|
