Cargotec Corporation

Cargotec's financial statements review 2015: Earnings per share doubled

CARGOTEC CORPORATION, FINANCIAL STATEMENTS REVIEW, 10 FEBRUARY 2016 AT 8.30 AM EET

Cargotec's financial statements review 2015: Earnings per share doubled

• Good profit development continued in Kalmar and Hiab in Q4
• MacGregor Q4 profit burdened by indirect costs
• Aim to be the leader in intelligent cargo handling

The figures in this financial statements review are based on Cargotec Corporation's audited 2015 Financial statements.

 

October-December 2015 in brief

• Orders received decreased 10 percent and totalled EUR 824 (914) million.
• Order book decreased 6 percent and amounted to EUR 2,064 (31 Dec 2014: 2,200) million at the end of the period.
• Sales totalled EUR 977 (963) million.
• Operating profit excluding restructuring costs was EUR 52.1 (71.5) million, representing 5.3 (7.4) percent of sales.
• Operating profit was EUR 45.0 (63.0) million, representing 4.6 (6.5) percent of sales.
• Cash flow from operations before financial items and taxes totalled EUR 87.3 (84.0) million.
• Net income for the period amounted to EUR 35.4 (40.6) million.
• Earnings per share was EUR 0.55 (0.63).

January-December 2015 in brief

• Orders received totalled EUR 3,557 (3,599) million.
• Sales grew 11 percent to EUR 3,729 (3,358) million.
• Operating profit excluding restructuring costs was EUR 230.7 (149.3) million, representing 6.2 (4.4) percent of sales.
• Operating profit was EUR 213.1 (126.6) million, representing 5.7 (3.8) percent of sales.
• Cash flow from operations before financial items and taxes totalled EUR 314.6 (204.3) million.
• Net income for the period amounted to EUR 142.9 (72.0) million.
• Earnings per share was EUR 2.21 (1.11).
• The Board of Directors proposes a dividend of EUR 0.79 per class A share and EUR 0.80 per outstanding class B share be paid.

Outlook for 2016

Cargotec's 2016 sales are expected to be at the 2015 level (EUR 3,729 million) or slightly below. Operating profit excluding restructuring costs for 2016 is expected to improve from 2015 (EUR 230.7 million).

 

Cargotec's key figures

MEUR	Q4/15	Q4/14	Change	Q1-Q4/15	Q1-Q4/14	Change
Orders received	824	914	-10%	3,557	3,599	-1%
Order book, end of period	2,064	2,200	-6%	2,064	2,200	-6%
Sales	977	963	1%	3,729	3,358	11%
Operating profit*	52.1	71.5	-27%	230.7	149.3	55%
Operating profit, %*	5.3	7.4		6.2	4.4
Operating profit	45.0	63.0	-29%	213.1	126.6	68%
Operating profit, %	4.6	6.5		5.7	3.8
Income before taxes	36.9	53.4		186.2	98.2
Cash flow from operations	87.3	84.0		314.6	204.3
Net income for the period	35.4	40.6		142.9	72.0
Earnings per share, EUR	0.55	0.63		2.21	1.11
Net debt, end of period	622	719		622	719
Gearing, %	46.4	59.2		46.4	59.2
Personnel, end of period	10,837	10,703		10,837	10,703

 

*excluding restructuring costs