KONECRANES PLC INTERIM REPORT, JANUARY-MARCH 2025 APRIL 24, 2025 12:30 PM EEST

Konecranes Plc's Interim report, January-March 2025: Q1 - A good start to the year 2025

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.

KEY FIGURES

1) Excluding items affecting comparability, see also note 10 in the summary financial statements

2) ROCE excluding items affecting comparability, see also note 10 in the summary financial statements

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.

ANALYST AND PRESS BRIEFING

A live international webcast and telephone conference for analysts, investors and media will be arranged today at 2:00 p.m. EEST. The event will be held in English. The Interim report will be presented by President and CEO Anders Svensson and CFO Teo Ottola. Questions may be presented at the end of the conference. The conference will be recorded, and an on-demand version of the conference will be published on the company's website later during the day.

The webcast can be watched through the following link:

https://konecranes.events.inderes.com/q1-2025

To ask questions, the telephone conference can be joined by registering through the following link:

https://palvelu.flik.fi/teleconference/?id=50051644

Phone numbers and the conference ID to access the conference will be provided after the registration. In case you would like to ask a question during the conference, please dial *5 on your telephone keypad to enter the question queue.

Questions can also be presented in writing through the question form, while watching the webcast.

NEXT REPORT

Konecranes Plc plans to publish its Half-year financial report, January-June 2025 on July 24, 2025.

KONECRANES PLC
Kiira Fröberg

Vice President, Investor Relations

FURTHER INFORMATION
Kiira Fröberg,
Vice President, Investor Relations,
tel. +358 (0) 20 427 2050

IMPORTANT NOTICE

The information in this release contains forward-looking statements, which are information on Konecranes' current expectations and projections relating to its financial condition, results of operations, plans, objectives, future performance and business. These statements may include, without limitation, any statements preceded by, followed by or including words such as "target," "believe," "expect," "aim," "intend," "may," "anticipate," "estimate," "plan," "project," "will," "can have," "likely," "should," "would," "could" and other words and terms of similar meaning or the negative thereof. Such forward-looking statements involve known and unknown risks, uncertainties and other important factors beyond Konecranes' control that could cause Konecranes' actual results, performance or achievements to be materially different from the expected results, performance or achievements expressed or implied by such forward-looking statements. Such forward-looking statements are based on numerous assumptions regarding Konecranes' present and future business strategies and the environment in which it will operate in the future.

Konecranes is a global leader in material handling solutions, serving a broad range of customers across multiple industries. We consistently set the industry benchmark, from everyday improvements to the breakthroughs at moments that matter most, because we know we can always find a safer, more productive and sustainable way. That's why, with around 16,700 professionals in over 50 countries, Konecranes is trusted every day to lift, handle and move what the world needs. In 2024, Group sales totalled EUR 4.2 billion. Konecranes shares are listed on Nasdaq Helsinki (symbol: KCR).

DISTRIBUTION
Nasdaq Helsinki
Major media

www.konecranes.com