Key Developments: Konecranes Abp (KNCRF.PK)
35.75USD
7 May 2013
$-0.55 (-1.52%)
$36.30
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Latest Key Developments (Source: Significant Developments)
Konecranes Abp Comments on FY 2013 Financial Guidance
Konecranes Abp announced that based on the offer base and the near-term demand outlook, the Company expects to report fiscal year 2013 sales stable or slightly higher than in fiscal year 2012. It also expects fiscal year 2013 operating profit to improve from fiscal year 2012. The Company reported fiscal year 2012 sales of EUR 2,171.5 million and fiscal year 2012 operating profit of EUR 132.5 million. According to I/B/E/S estimates, analysts on average are expecting the Company to report fiscal year 2013 sales of EUR 2,168.43 million and fiscal year 2013 operating profit of EUR 152 million. Full Article
Konecranes Abp to Supply Goliath Gantry Crane to Brazilian Shipyard
Konecranes Abp announced that in March 2013 it received an order for a Goliath gantry crane from Brazilian shipyard Estaleiro Enseada do Paraguacu (EEP). The high-tech Goliath crane will be taken into operation in July 2014. The crane will be equipped with the latest in crane technology. The crane will have a lifting capacity of 1,800 tons, a lifting height of 114 meter, and crane structures that will reach a height of 150 meters. The crane is designed and built to operate independently in lifting heavy dry dock assemblies. However, some design features were specially implemented to ensure optimal lifting also in the future. The new EEP shipyard has been under construction since 2012. The shipyard will begin operations in 2014 with a focus on building and assembling offshore units such as platforms, specialized ships and drill rigs. Financial details of the contract were not disclosed. Full Article
Konecranes Abp Receives Order for Container Handling Equipment from Indonesian Terminal Operator
Konecranes Abp announced that it has signed an agreement to deliver container handling equipment to Indonesian state-owned terminal operator PT Pelabuhan Indonesia III (Persero), (Pelindo III). The order comprises 10 Ship-to-Shore (STS) cranes, 20 Automated Stacking Cranes (ASC) and five Straddle Carriers (SC). Delivery is scheduled for 2014 and 2016. The Company also announced that the value of the order is not disclosed, but is over EUR 100 million. This new order for container handling equipment includes the latest in crane technology, offering the customer maximized productivity. Full Article
Konecranes Abp Completes Statutory Negotiations; to Cut Jobs; Company Discontinues Industrial Crane Manufacturing in Hyvinkaa in Finland
Konecranes Abp announced that it had in a stock exchange release dated January 3, 2013 announced restructuring actions in Business Area Equipment and that the Company as a result of these will start statutory negotiations regarding possible personnel reductions within Konecranes Business Area Equipment in Finland. The statutory negotiations have ended and according to the results 20 employees will be permanently laid off within Konecranes Finland Oy. Furthermore, the contracts of nine temporarily employed persons will be terminated when they are due. Also the number of rental workers will be reduced. In addition to these activities, there might be temporary layoffs affecting 350 employees, should the market demand and factory capacity not meet. As a result of new equipment demand moving towards emerging markets, Konecranes Business Area Equipment initiated actions to align operations closer to customers. In doing so, Konecranes Business Unit Industrial Cranes is organizing itself globally into larger sales areas with stronger units. As a result, industrial crane manufacturing will be discontinued in Hyvinkaa, Finland. Hyvinkaa will remain the main location for component manufacturing for heavy-duty industrial cranes and port cranes. In Finland Konecranes employs approximately 2,000 people of which approximately 1,200 are located in Hyvinkaa. Full Article
Konecranes Abp Announces Details on FY 2012 Dividend
Konecranes Abp announced that its Board of Directors proposes fiscal year 2012 dividend of EUR 1.05 per share. Dividend will be paid to shareholders who on the record date of the dividend payment March 26, 2013 are registered as shareholders in the Company’s shareholders' register maintained by Euroclear Finland Ltd. The dividend shall be paid on April 5, 2013. Full Article
Konecranes Abp Proposes FY 2012 Dividend of EUR 1.05 per Share
Konecranes Abp announced that the fiscal year 2012 dividend proposed by Board of Directors is EUR 1.05 per share. In the fiscal year 2011, the Company reported a dividend of EUR 1.00 per share. Full Article
Konecranes Abp Issues FY 2013 Sales and Operating Profit Guidance in Line with Analysts' Estimates
Konecranes Abp announced that based on the offer base and the near-term demand outlook, the fiscal year 2013 sales are expected to be stable or slightly higher than in the fiscal year 2012. The Company expects the fiscal year 2013 operating profit to improve from the fiscal year 2012. According to I/B/E/S Estimates, analysts on average are expecting the Company to report fiscal year 2013 sales of EUR 2,170.65 million and fiscal year 2013 operating profit of EUR 157.00 million. In the fiscal year 2012, the Company reported sales of EUR 2,170.2 million and operating profit of EUR 132.1 million. Full Article
Konecranes Abp Reorganizes Business Area Equipment and Plans Layoffs
Konecranes Abp announced that as a result of new equipment demand moving towards emerging markets, Konecranes Business Area Equipment has initiated actions to align operations closer to customers. In doing so, the Group, in its Business Unit Industrial Cranes will organize itself into larger sales areas with fewer units. In addition, the Group will consider discontinuing industrial crane manufacturing in Hyvinkaa, Finland and Vic, Spain. In its Business Unit Port Cranes, the Company considers terminating straddle carrier manufacturing in Tauberbischofsheim, Germany. In straddle carrier manufacturing, the Company will continue using other Group facilities, as well as the Group's subcontracting network. These actions will affect approximately 140 employees globally. Konecranes expects to incur restructuring costs of approximately EUR 10 million due to these actions of which approximately EUR 6 million will be recognized in the fourth quarter of 2012 and approximately EUR 4 million in the first quarter of 2013. The total cash flow impact of these restructuring costs will be approximately EUR 5 million. With these planned actions, Konecranes targets annual cost savings of approximately EUR 10 million starting from the second half of 2013 on. Due to this business reorganization, Konecranes will start statutory negotiations regarding possible personnel reductions in Finland. The permanent personnel reductions are estimated to affect 35 employees within the Business Area Equipment. Full Article
Konecranes Abp to Deliver Further 12 Automated Stacking Cranes to Khalifa Port
Konecranes Abp announced that following upon the delivery of a complete automated container yard system including 30 Automated Stacking Cranes (ASCs) to the new Khalifa Port, the Company will deliver a further 12 ASCs to the port, which officially started commercial operations on September 1, 2012. Deliveries will take place in the fourth quarter of 2013 and the first quarter of 2014. The parties have agreed not to disclose the value of the order. The 12 ASCs in the extension order are identical to the 30 ASCs delivered in the first phase. They have a lifting capacity of 40 tons, stacking one-over-five containers high and nine wide. They are equipped with automation controls and Konecranes' Active Load Control (ALC) system. ALC combines advanced sway control and horizontal fine positioning, providing efficient container handling in the ASC yard, both automatically and remotely. The Konecranes ASCs will be interfaced with the Khalifa Port Terminal Operating System (TOS), delivered by Konecranes in the first phase of the container terminal construction. Full Article
Konecranes Abp Receives Order from Port of Houston Authority
Konecranes Abp announced that it has in October 2012 received an order for eight RTG (rubber tired gantry) cranes from the Port of Houston Authority (PHA) in the United States. This is the second Konecranes fuel-saving RTG delivery for PHA, which already has 49 Konecranes RTGs in its terminals. The cranes will be delivered in autumn 2013. Financial terms of the order were not disclosed. Konecranes delivered its first RTGs to PHA in 2003. The recently ordered cranes will be delivered to the Barbours Cut Terminal. The Barbours Cut equipment fleet will then include 30 Konecranes 16-wheel RTGs. Full Article
Konecranes buys container handling assets from KION Group
HELSINKI, Feb 18 - Finnish crane maker Konecranes said on Monday it had agreed to buy some container handling assets from KION Group and also signed a supply deal with it.
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