This release is a summary of Konecranes Plc’s Interim report, January-March 2025. The complete report is attached to this release in pdf format and is also available on Konecranes’ website at www.konecranes.com.

The figures presented in this report are unaudited. Figures in brackets, unless otherwise stated, refer to the same period a year earlier.

FIRST QUARTER HIGHLIGHTS

– Order intake EUR 1,062.2 million (909.1), +16.8 percent (+15.9 percent on a comparable currency basis), order intake increased in Industrial Service, Industrial Equipment and Port Solutions
– Industrial Service annual agreement base value EUR 340.3 million (326.0), +4.4 percent (+4.9 percent on a comparable currency basis)
– Order book EUR 2,941.8 million (3,046.4) at the end of March, -3.4 percent (-3.5 percent on a comparable currency basis)
– Sales EUR 983.7 million (913.1), +7.7 percent (+6.9 percent on a comparable currency basis), sales increased in all Business Areas
– Comparable EBITA margin 11.1 percent (11.1) and comparable EBITA EUR 109.0 million (101.8)
– Operating profit EUR 100.0 million (89.1), 10.2 percent of sales (9.8)
– Earnings per share (diluted) EUR 0.93 (0.75)
– Free cash flow EUR 58.7 million (48.8)
– Net debt EUR 140.9 million (334.7) and gearing 8.0 percent (21.8)

DEMAND OUTLOOK

Our demand environment within industrial customer segments has remained good and continues on a healthy level. That said, the demand-related uncertainty and volatility due to the geopolitical and trade policy tensions have increased compared to the previous quarters.

Global container throughput continues on a high level, and long-term prospects related to global container handling remain good overall.

FINANCIAL GUIDANCE

Konecranes expects net sales to remain approximately on the same level in 2025 compared to 2024. Konecranes expects the full-year 2025 comparable EBITA margin to remain approximately on the same level or to improve from 2024.

CEO Anders Svensson:

Konecranes had a good start to the year and reported a solid Q1. Despite the increased macro-related uncertainty, our orders received grew year-on-year and deliveries continued on a strong level. Profitability remained the same as a year ago, and we posted a comparable EBITA margin of 11.1%.
Although macro indicators signaled sluggish market conditions in Q1 and global trade uncertainty increased towards the end of the quarter, our demand environment remained good. Order intake increased 15.9% year-on-year in comparable currencies, and we saw year-on-year order growth in all three Business Areas. Our orderbook grew sequentially and exceeded €2.9 billion at the end of March.
We had strong deliveries again in Q1. Net sales totaled nearly €1 billion and increased 6.9% versus a year ago on a comparable currency basis. Sales grew in all three Business Areas.
Our Q1 comparable EBITA margin was 11.1%, remaining approximately at the same record-high level as in the previous year. In Q1, the pricing impact was slightly positive, but execution and sales mix were weaker versus a year ago. Profitability improved in Industrial Service and Port Solutions, but declined in Industrial Equipment. Free cash flow totaled €58.7 million and increased from the previous year.

In Industrial Service, order intake increased 4.2% year-on-year in comparable currencies. Sales increased 2.5% year-on-year in comparable currencies. The comparable EBITA margin improved year-on-year to 20.2%, mainly driven by pricing. The agreement base value continued to grow and in comparable currencies was 4.9% higher at the end of Q1 versus a year ago.

Industrial Equipment’s external orders increased 13.5% year-on-year in comparable currencies. External sales increased 3.5% year-on-year in comparable currencies. The comparable EBITA margin decreased year-on-year to 4.6%, mainly driven by lower productivity and weaker sales mix.

In Port Solutions, order intake totaled €343 million, increasing 37.5% year-on-year in comparable currencies. Port Solutions had yet another strong delivery quarter, and sales grew 16.5% year-on-year in comparable currencies. The comparable EBITA margin improved year-on-year to 8.3%, mainly driven by volume and pricing. Port Solutions’ orderbook was nearly EUR 1.6 billion at the end of Q1.

Looking into the coming quarters, we expect the demand environment within our industrial customers to remain healthy. That said, the demand-related uncertainty and volatility have increased particularly in North America as a result of the geopolitical and trade policy tensions. Our sales funnels are on a good level, but customer decision-making times have started to become longer.

Regarding our port customers, container throughput continues to be on a high level, and long-term prospects related to container handling remain good. Our Port Solutions sales pipeline includes a good mix of projects of all sizes. Quarterly order intake fluctuation is normal in the business, and the market environment has not significantly changed compared to the previous quarters.

We also reiterate our financial guidance for 2025. We expect our net sales to remain approximately on the same level in 2025 compared to 2024, and our comparable EBITA margin to remain approximately on the same level or to improve in 2025 compared to 2024.

Overall, Konecranes had a good start to the new year. Although the first quarter has historically been our seasonally weakest quarter, we were able to reach last year’s record-high Q1 profitability level also this year. This places us in a good position to deliver on our financial guidance for the year despite the more volatile market conditions.

Last but not least, Konecranes will provide an update to its three Business Areas and future ambitions at the Capital Markets Day which will be arranged in London on May 20. I look very much forward to the event and warmly welcome investors and analysts to participate in the event either in-person or a live webcast.

Source: Konecranes