Konecranes Oyj · OMXHEX:KCR
Konecranes Oyj — Konecranes Plc Ord — Q4 2024 Earnings Presentation
30 slides from Konecranes Oyj's earnings presentation, Feb 7, 2025
Slide 1: Q4 2024 Report
February7, 2025 Q4 2024 Report Anders Svensson, Presidentand CEO Teo Ottola, CFO
Slide 2: Important Notice
Important Notice The following applies to this presentation, the oral presentation of the information in this presentation by Konecranes Abp (the “Company” or “Konecranes”) or any person on behalf of the Company, and any question-and-answer session that follows the oral presentation (collectively, t
Slide 3: Agenda
Agenda Anders Svensson 1. Quarter’s highlights p. 4 President and CEO 2. Market environment p. 5 3. Group financial performance p. 7 4. Demand outlook & financial guidance p. 11 Teo Ottola 5. Group profitability bridge p. 14 CFO 6. Business segments p. 15 7. Net working capital & free cash flow p. 1
Slide 4: Q4 2024 – Strong end to an excellent year
Q4 2024 –Strongendto an excellent year Order intake Net sales (MEUR) (MEUR) Demand environment remained good in Q4 +26% +6% • Orders +25.9% Y/Y (comp. FX) 1,213 1,167 1,149 926 • Sales €1.2billion, +5.4% Y/Y (comp. FX) All-time high Q4 comparable EBITA-% of 13.2% • Y/Y profitability improvement driv
Slide 5: Market environment – Service and Industrial Equipment
Market environment – Service and Industrial Equipment EU capacity utilization rate, % US capacity utilization rate, % Manufacturing PMIs – Brazil, India & China Brazil India China 75 Brazil India China 90 European Union (27 countries) 90 Total industry Manufacturing 70 85 85 65 80 80 77.6 60 75 77.3
Slide 6: Market environment – Port Solutions
Market environment – Port Solutions RWI/ISL Container Throughput Index (2015 = 100) Monthly index change Y/Y, % 160 20 140 15 123.0 120 10 100 5 80 +3% 0 Y/Y 12/2024 60 -5 40 -10 20 -15 0 -20 12/14 12/15 12/16 12/17 12/18 12/19 12/20 12/21 12/22 12/23 12/24 12/14 12/15 12/16 12/17 12/18 12/19 12/20
Slide 7: Group order intake and net sales
Group order intake and net sales Order intake, MEUR(1) Order intake 1500 1167 +26.0% +25.9% 960 Y/Y reported Y/Y comp. FX 1000 926 • EUR 1,166.5 million • Increase in all segments 500 • Increase in EMEA and the Americas, decrease in APAC 0 Q4/22 Q1/23 Q2/23 Q3/23 Q4/23 Q1/24 Q2/24 Q3/24 Q4/24 Net sa
Slide 8: Group order book
Group order book Order book, MEUR Service Industrial Equipment Port Solutions Order book 4500 -5.0% -6.1% Y/Y reported Y/Y comp. FX 3750 • EUR 2,888.4 million 3041 • Decrease in Port Solutions and Service, 3000 2902 2888 approximately flat in Industrial Equipment • Orderbook remains on a good level
Slide 9: Group comparable EBITA
Group comparable EBITA Comparable EBITA, MEUR & margin-% Comp. EBITA C. EBITA-% R12M c. EBITA-% Comparable EBITA 175 13.2% 13.2% +1.5 pp 159 margin Y/Y 11.7% 150 13.1% 11.6% 134 • EUR 159.5 million 11.4% • Comparable EBITA-% increase in all 125 118 segments 9.5% • Comparable EBITA-% increase mainly
Slide 10: Progress towards Konecranes' financial targets
Progress towards Konecranes’ financial targets Group Service Industrial Equipment Port Solutions Target: 12-15%(1) Target: 20-24%(1) Target: 8-10%(1)(2) Target: 9-11%(1) 21.0 19.9 18.5 18.6 17.2 16.6 13.1 11.4 9.8 9.5 9.3 9.0 8.3 8.2 7.8 7.0 7.4 7.5 6.3 5.6 3.5 2.3 2.7 1.5 2019 2020 2021 2022 2023 2
Slide 11: Demand outlook
Demand outlook Within industrial customer segments: Within port customers: Global container throughput continues on a high level, and long-term prospects related Americas EMEA Asia-Pacific to global container handling remain good overall. Our demand environment within industrial customer segments ha
Slide 12: Financial guidance for 2025
Financial guidance for 2025 Net sales expected to remain approximately on the same level in 2025 compared to 2024. Comparable EBITA margin expected to remain approximately on the same level or to improve in 2025 compared to 2024. 12
Slide 13: Agenda
Agenda Anders Svensson 1. Quarter’s highlights p. 4 President and CEO 2. Market environment p. 5 3. Group financial performance p. 7 4. Demand outlook & financial guidance p. 11 Teo Ottola 5. Group profitability bridge p. 14 CFO 6. Business segments p. 15 7. Net working capital & free cash flow p. 1
Slide 14: Q4 2024 comparable EBITA bridge
Q4 2024 comparable EBITA bridge MEUR(1) 250 200 40 -11 -3 0 159 150 134 100 13.2% 11.7% Comparable EBITA Comparable EBITA margin 50 margin 0 Comparable EBITA Volume, Variable Fixed FX translation Comparable EBITA Q4 2023 pricing & mix costs costs impact Q4 2024 Note (1): Volume, pricing & mix, Varia
Slide 15: Service
Service Order intake and net sales, MEUR(1) • Increase in field service and parts Orders received Net sales Order intake 600 • Increase in the Americas, EMEA and APAC +3.7% Y/Y reported Agreement base: 419 360376 378403 392 • EUR 342.5 million , +7.6% Y/Y 400 +3.5% • +6.3% Y/Y comp. FX Y/Y comp. FX
Slide 16: Industrial Equipment
Industrial Equipment Order intake and net sales, MEUR(1)(2) • External orders +27.7% Y/Y comp. FX Orders received Net sales Order intake • Increase in standard cranes, components 600 +25.4% and process cranes(2) Y/Y reported 377 • Increase in EMEA and in the Americas, 357 362 400 307 285 341 +25.5%
Slide 17: Port Solutions
Port Solutions Order intake and net sales, MEUR(1) Orders received Net sales Order intake • Increase in the Americas and EMEA, decrease in APAC 600 +51.5% 445 461 473 Y/Y reported • Good order intake in Straddle Carriers, 360 Rubber-Tired Gantry Cranes and Port 400 328 304 +51.4% Service Y/Y comp. F
Slide 18: Net working capital and free cash flow
Net working capital and free cash flow Net working capital, MEUR and percentage of sales (1)(2) Free cash flow, MEUR 600 NWC % of R12M sales R12M FCF FCF 800 511 500 700 427 14.6% 600 400 490 500 8.9% 9.0% 300 400 379 354 300 200 170 200 167 91 100 100 25 0 0 Q4/22 Q1/23 Q2/23 Q3/23 Q4/23 Q1/24 Q2/2
Slide 19: Gearing and return on capital employed
Gearing and return on capital employed Equity & net debt, MEUR and gearing, % Capital employed, MEUR and comp. return on capital employed, % 2000 Equity Net debt Gearing-% 1858 Capital employed Comp. ROCE-% 20.8% 4000 1750 48.0% 1595 3500 17.7% 1500 1433 3000 13.4% 2754 1250 2550 2500 2539 1000 22.9
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Slide 21: Appendix
@ 2023 Konecranes. All rights reserved. 'Konecranes', 'Moves what matters' and 21 are either registered trademarks or trademarks of Konecranes Global Corporation. Appendix PUBLIC
Slide 22: Group R12M sales split
Group R12M sales split Group R12M sales by segment Group R12M sales by offering type(1) Group R12M sales by region 36% 13% 47% 35% 42% Service APAC EMEA Port Solutions Total service 1575 MEUR 557 MEUR 1969 MEUR 1522 MEUR 1853 MEUR % % % of R12M of R12M of R12M sales sales sales 29% 58% 40% Industria
Slide 23: Service agreement base and order book by segment
Service agreement base and order book by segment Service agr. base & order book, MEUR Industrial Equipment order book, MEUR Port Solutions order book, MEUR 1000 Order book Agreement base 1600 2000 1705 1599 1559 750 1200 1500 892 893 857 445 444 436 500 800 1000 343 318 307 250 400 500 0 0 0 Q4/22 Q
Slide 24: Group key figures 1/2
Group key figures 1/2 EUR million 10-12/ 10-12/ Change % Change % 1-12/ 1-12/ Change % Change % 2024 2023 Comp. FX 2024 2023 Comp. FX Orders received, MEUR 1,166.5 926.0 26.0 25.9 3,999.6 4,161.4 -3.9 -3.6 Order book at end of period, MEUR 2,888.4 3,040.8 -5.0 Sales total, MEUR 1,212.5 1,148.9 5.5 5
Slide 25: Group key figures 2/2
Group key figures 2/2 EUR million 1-12/ 1-12/ Change % 2024 2023 ROCE, %, (R12M) 20.3 16.4 23.8 Return on equity, %, (R12M) 21.3 18.2 17.0 Equity per share (EUR) 23.45 20.14 16.4 Net debt / Comparable EBITDA, (R12M) 0.3 0.7 -57.1 Equity to asset ratio, % 44.4 41.1 8.0 Investments total (excl. acquis
Slide 26: Key figures by segment
Key figures by segment EUR million 10-12/ 10-12/ Change % Change % 1-12/ 1-12/ Change % Change % 2024 2023 Comp. FX 2024 2023 Comp. FX Service Orders received, MEUR 391.7 377.9 3.7 3.5 1,559.0 1,490.7 4.6 5.1 Agreement base value, MEUR 342.5 318.3 7.6 6.3 342.5 318.3 7.6 6.3 Sales, MEUR 419.0 403.5
Slide 27: Statement of income
Statement of income EUR million 10-12/ 10-12/ Change % 1-12/ 1-12/ Change % 2024 2023 2024 2023 Sales 1,212.5 1,148.9 5.5 4,227.0 3,966.3 6.6 Other operating income 1.6 2.3 10.5 9.5 Materials, supplies and subcontracting -593.0 -578.4 -1,878.2 -1,820.3 Personnel cost -315.8 -300.2 -1,264.0 -1,186.6
Slide 28: Balance sheet
Balance sheet EUR million 31 Dec 31 Dec EUR million 31 Dec 31 Dec 2024 2023 2024 2023 Non-current assets 2,069.2 1,994.0 Total Equity 1,857.7 1,594.8 Goodwill 1,058.4 1,038.6 Non-current liabilities 939.5 1,111.7 Intangible assets 449.9 458.1 Interest-bearing liabilities 539.3 727.7 Property, plant
Slide 29: Cash flow statement
Cash flow statement EUR million 1-12/ 1-12/ 2024 2023 Operating income before change in net working capital 631.4 520.7 Change in net working capital -5.3 121.9 Cash flow from operations before financing items and taxes 626.1 642.6 Financing items and taxes -134.5 -85.3 Net cash from operating activ
Slide 30: Thank you
Thank you are either registered trademarks or trademarks of Konecranes Global Corporation. @ 2023 Konecranes. All rights reserved. 'Konecranes', 'Moves what matters' and Contact information Kiira Fröberg Vice President, Investor Relations Email: kiira.froberg@konecranes.com, tel: +358 20 427 2050 Ru