January March 2006 Interim Report President and CEO Carl-Gustaf - - PowerPoint PPT Presentation

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january march 2006 interim report president and ceo carl
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January March 2006 Interim Report President and CEO Carl-Gustaf - - PowerPoint PPT Presentation

Aug 27, 2022 137 likes •305 views

January March 2006 Interim Report President and CEO Carl-Gustaf Bergstrm April 24, 2006 1 Key issues during Q1/2006 Market situation continued good Record order intake of EUR 805 (Q1/05 pro forma: 645) million Net sales grew

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SLIDE 1

April 24, 2006

1

January – March 2006 Interim Report President and CEO Carl-Gustaf Bergström

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April 24, 2006 2

Key issues during Q1/2006

  • Market situation continued good
  • Record order intake of EUR 805 (Q1/05 pro forma: 645) million
  • Net sales grew by 12% and amounted to EUR 614 (550) million
  • Operating income rose to EUR 51.0 (36.7) million representing

8.3 (6.7)% of net sales

  • Order book on March 31, 2006 was EUR 1,439 (Dec 31, 2005:

1,257) million

  • Acquisitions complementing the business: ECC and AMA
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SLIDE 3

April 24, 2006 3

Market situation continued good (1/2)

  • Hiab’s load handling equipment markets continued strong in North

America and in Europe.

  • The markets were also supported by the continuing positive trend in

new truck sales, which is estimated to be partly due to customers preparing for increases in truck prices caused by the introduction of new emission standards towards the end of the year.

  • Demand for Kalmar’s container handling equipment was strong,

especially in Europe and South Africa where several port expansion projects were decided on.

  • The demand for heavy industrial handling equipment continued to

be good.

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SLIDE 4

April 24, 2006 4

Market situation continued good (2/2)

  • Markets for MacGREGOR’s products remained extremely
  • strong. It is fueled by shipbuilders’ record-high order

backlogs, which increase the need for MacGREGOR’s marine cargo flow solutions onboard.

  • Demand for service was high in all three business areas.
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April 24, 2006 5

Orders received

MEUR 645 805 2,337 2,385 2,545 400 800 1,200 1,600 2,000 2,400 2,800 2004 Pro forma 2005 Rolling 12 month 1-3/05 1-3/06 Pro forma Pro forma

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SLIDE 6

April 24, 2006 6

Order book

MEUR

*Pro forma

1,439 1,257 1,281 1,287 1,345 1,219 1,173 1,123 897 807 200 400 600 800 1,000 1,200 1,400 1,600 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

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April 24, 2006 7

Net sales

MEUR +12 % 614 550 1,900 2,421 2,358 400 800 1,200 1,600 2,000 2,400 2,800 2004 Pro forma 2005 Pro forma Rolling 12 month 1-3/05 Pro forma 1-3/06

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SLIDE 8

April 24, 2006 8

1,072 1,335 344 311 476 620 403 131 171 99 109 352

300 600 900 1,200 1,500

2004* 2005* 1-3/06 2004* 2005* 1-3/06 2004* 2005* 1-3/06

Geographical net sales development

Americas Asia Pacific EMEA MEUR

Q1 Q1 Q1 *Pro forma

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SLIDE 9

April 24, 2006 9

95 109 223 267 116 56 110 25 32 72 26 29

50 100 150 200 250 300

2004* 2005* 1-3/06 2004* 2005* 1-3/06 2004* 2005* 1-3/06

10 20 30 40 50

Service business growth continued

Hiab MacGREGOR Kalmar % of net sales MEUR

% Q1 Q1 Q1 *Pro forma

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April 24, 2006 10

Acquisition of East Coast Cranes (ECC)

  • Container crane and port service

company working in US East Coast and Gulf ports, project-based business in various ports on the US West Coast, Caribbean and in Latin America.

  • Over 100 employees and net sales of

close to USD 25 million (2005).

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SLIDE 11

April 24, 2006 11

Acquisition of AMA

  • Tail lift manufacturer AMA consists of

manufacturing company AMA Polska Sp.z.o.o based in Poland and sales company Stama B.V. in Holland

  • AMA is currently investing in a new tail lift

production facility in Oborniki near Poznan, Poland.

  • 55 employees and net sales of approximately

EUR 4 million (2005).

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SLIDE 12

April 24, 2006 12

Operating income

MEUR

*Excluding EUR 15.4 million capital gain on sale of Consolis

51 37 124 194 179 40 80 120 160 200 240 2004 Pro forma 2005 Pro forma* Rolling 12 month* 1-3/05 Pro forma 1-3/06

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April 24, 2006 13

74.9 8.5% 101.9 8.7% 29.2 7.7% 193.7* 8.0%* 22.5 9.8% 25.0 8.8% 6.2 6.1% 51.0 8.3%

Operating income by business area

MEUR Hiab % Kalmar % MacGREGOR % Cargotec total % 2005 Pro forma 1-3/2006 Rolling 12 month 2004 Pro forma 44.6 6.4% 66.4 7.7% 20.9 6.2% 123.9 6.5% 14.2 7.2% 20.7 7.8% 4.5 5.1% 36.7 6.7% 1-3/2005 Pro forma 66.6 7.9% 97.6 8.5% 27.5 7.5% 179.4* 7.6%*

*Excluding EUR 15.4 million capital gain on sale of Consolis

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April 24, 2006 14

Cash flow from operations

MEUR 41 16 158 219 194 40 80 120 160 200 240 2004 Pro forma 2005 Pro forma Rolling 12 month 1-3/05 Pro forma 1-3/06

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SLIDE 15

April 24, 2006 15

Key figures

1-3/2006 2005 2004 Pro forma Pro forma Basic earnings per share EUR 0.53 1.90* 1.20 Equity per share EUR 11.84 11.93 10.17 Interest-bearing net debt MEUR 154.9 120.5 281.4 Total equity / total assets % 45.9 46.2 42.2 Gearing % 20.3 15.7 43.0 Return on equity % 17.8 19.2 12.6 Return on capital employed % 19.4 20.9 12.9

*Excluding EUR 15.4 million capital gain on sale of Consolis

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April 24, 2006 16

Outlook

  • Cargotec’s market situation is expected to remain good.
  • Order intake is expected to continue strong during the second

quarter of 2006 even if it is not expected to reach the very high first quarter level.

  • Cargotec’s growth is supported by the growth in orders received as

well as acquisitions complementing the business.

  • Year 2006 net sales are estimated to grow by close to 10 percent

while the target is to reach an 8 percent operating margin.