January-June 2006 Interim Report President and CEO Mikael Mkinen - - PowerPoint PPT Presentation

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january june 2006 interim report president and ceo mikael
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January-June 2006 Interim Report President and CEO Mikael Mkinen - - PowerPoint PPT Presentation

Nov 04, 2023 125 likes •308 views

January-June 2006 Interim Report President and CEO Mikael Mkinen July 19, 2006 1 Key issues in April-June 2006 Order intake continued at record levels as in the first quarter totaling EUR 786 (Q2/05: 571) million Net sales grew by

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SLIDE 1

July 19, 2006

1

January-June 2006 Interim Report President and CEO Mikael Mäkinen

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SLIDE 2

July 19, 2006 2

Key issues in April-June 2006

  • Order intake continued at record levels as in the first quarter totaling

EUR 786 (Q2/05: 571) million

  • Net sales grew by 8% and amounted to EUR 661 (612) million
  • Operating income rose to EUR 60.7 (48.2) million, equal to 9.2 (7.9)% of

net sales. 1-6/2006 operating income margin was 8.8%.

  • Order book at end of June amounted to EUR 1,544 (Dec 31, 2005:

1,257) million

  • Expansion into dry bulk handling through acquisition of BMH Marine
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SLIDE 3

July 19, 2006 3

Acquisition of BMH Marine expands MacGREGOR

  • ffering
  • Dry bulk handling equipment
  • n ships and at port terminals
  • Net sales in 2006 expected to

rise to close to EUR 70 million

  • Employs 140 people
  • Debt-free acquisition price
  • approx. EUR 32 million
  • Transaction subject to

competition authority approval

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SLIDE 4

July 19, 2006 4

Market situation continued good

  • Global economy and world trade

continued to grow

  • Container traffic volumes grew

further

  • Ship building at ship yards at a high

level

  • Construction activity strong in main

markets in Europe and US

  • New truck registration brisk
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SLIDE 5

July 19, 2006 5

Orders received increased markedly

  • Hiab

–Orders for loader cranes, demountables and tail lifts grew strongly –Demand for forestry cranes leveled off

  • Kalmar

–Demand high for container handling equipment and services –Heavy industrial handling equipment markets stable

  • MacGREGOR

–Hatch cover, ship crane and cargo securing equipment markets continued lively –RoRo equipment demand for PCTCs was strong

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SLIDE 6

July 19, 2006 6

Orders received

MEUR +31 % +38 % 786 571 2,337 2,385 1,591 1,216 400 800 1,200 1,600 2,000 2,400 2,800 2004 Pro forma 2005 Pro forma 1-6/05 Pro forma 1-6/06 4-6/05 Pro forma 4-6/06

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SLIDE 7

July 19, 2006 7

Order book

MEUR

*Pro forma

1,544 1,439 1,257 1,281 1,287 1,345 1,219 1,173 1,123 897 807 300 600 900 1,200 1,500 1,800 3 1 . 1 2 . 3 * 3 1 . 3 . 4 * 3 . 6 . 4 * 3 . 9 . 4 * 3 1 . 1 2 . 4 * 3 1 . 3 . 5 * 3 . 6 . 5 3 . 9 . 5 3 1 . 1 2 . 5 3 1 . 3 . 6 3 . 6 . 6

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SLIDE 8

July 19, 2006 8

Net sales

MEUR +8 % +10 % 661 612 1,275 1,162 1,900 2,358 400 800 1,200 1,600 2,000 2,400 2,800 2004 Pro forma 2005 Pro forma 1-6/05 Pro forma 1-6/06 4-6/05 Pro forma 4-6/06

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SLIDE 9

July 19, 2006 9

Geographical development of net sales

Americas Asia Pacific EMEA MEUR

1-6 1-6 1-6 *Pro forma 1,072 1,335 684 476 620 403 673 365 268 226 222 352

300 600 900 1,200 1,500

2004* 2005* 1-6/06 2004* 2005* 1-6/06 2004* 2005* 1-6/06

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SLIDE 10

July 19, 2006 10

Services continued to grow

95 109 223 267 116 110 65 150 58 126 54 59

50 100 150 200 250 300

2004* 2005* 1-6/06 2004* 2005* 1-6/06 2004* 2005* 1-6/06

10 20 30 40 50 Hiab MacGREGOR Kalmar % of net sales MEUR

% *Pro forma 1-6 1-6 1-6

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SLIDE 11

July 19, 2006 11

Operating income

MEUR

*Excluding EUR 15.4 million capital gain on sale of Consolis

61 48 112 85 124 179

30 60 90 120 150 180 210 2004 Pro forma 2005 Pro forma* 1-6/05 Pro forma 1-6/06 4-6/05 Pro forma 4-6/06

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SLIDE 12

July 19, 2006 12

45.9 9.8% 55.7 9.4% 16.5 7.6% 111.7 8.8% 23.4 9.9% 30.7 9.9% 10.3 8.9% 60.7 9.2%

Operating income by business area

MEUR Hiab % Kalmar % MacGREGOR % Cargotec total % 2005* 4-6/2006 1-6/2006 2004* 44.6 6.4% 66.4 7.7% 20.9 6.2% 123.9 6.5% 18.2 8.2% 24.7 8.1% 7.7 8.8% 48.2 7.9% 4-6/2005* 66.6 7.9% 97.6 8.5% 27.5 7.5% 179.4** 7.6%**

*Pro forma **Excluding EUR 15.4 million capital gain on sale of Consolis

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SLIDE 13

July 19, 2006 13

Earnings per share (basic)

EUR 0.63 0.52 1.16 0.86 1.20 1.90 0.00 0.50 1.00 1.50 2.00 2.50 3.00 2004 Pro forma 2005 Pro forma* 1-6/05 Pro forma 1-6/06 4-6/05 Pro forma 4-6/06

*Excluding EUR 15.4 million capital gain on sale of Consolis

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SLIDE 14

July 19, 2006 14

Cash flow from operations

MEUR 72 (1) 16 113 158 194

(30) 30 60 90 120 150 180 210

2004 Pro forma 2005 Pro forma 1-6/05 Pro forma 1-6/06 4-6/05 Pro forma 4-6/06

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SLIDE 15

July 19, 2006 15

Key figures

1-6/2006 2005* 2004* Earnings per share EUR 1.16 1.90** 1.20 Equity per share EUR 12.58 11.93 10.17 Interest-bearing net debt MEUR 129.4 120.5 281.4 Total equity/total assets % 47.5 46.2 42.2 Gearing % 16.0 15.7 43.0 Return on equity % 18.9 19.2 12.6 Return on capital employed % 20.9 20.9 12.9

*Pro forma **Excluding EUR 15.4 million capital gain on sale of Consolis

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SLIDE 16

July 19, 2006 16

Outlook

  • Cargotec’s market situation is expected to continue good.
  • Following a record first half of the year the order intake

during the second half of 2006 is expected to be at last year’s healthy level.

  • Due to the strong order book at the end of June

Cargotec’s net sales for year 2006 are estimated to exceed EUR 2.6 billion.

  • The operating income margin from operations is

estimated to exceed 8 percent.