Markets & Reports
Konecranes reports strong results for 2023 Q1
April 28, 2023 By Don Horne
Konecranes surprised themselves with an unusually strong first financial quarter.
“Overall, I am very pleased with our Q1 performance,” says CEO Anders Svensson. “Strong results in what has historically been our seasonally weakest quarter – and amid volatile market conditions – reflect our capabilities as a company and put us well on track to deliver the sales and profitability growth we expect for the full-year 2023.”
According to Konecranes’ Q1 interim financial report, order intake increased 17 per cent year-on-year on a comparable currency basis and totalled nearly €1.3 billion (euros), an all-time high. Orders received grew in all three business segments. short-cycle orders remained on a good level.
“Our delivery capability continued to improve in Q1 despite the sequential sales decline,” says Svensson. “Group sales totalled €899 million and were 33 per cent higher versus a year ago on a comparable currency basis. This was an excellent achievement given the continued fragility of global supply chains.
“At the end of March, our order book was nearly €3.3 billion, 32.8 per cent higher than a year ago on a comparable currency basis. The increase reflects the strong order intake during the quarter.”
As a result of the good sales execution and positive pricing impact, Konecrnes posted a record-high Q1 comparable EBITA margin of 10.6 per cent.
For the complete interim report and highlights, click here.
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