2005 figures up at KCI Konecranes

25 April 2008

Finnish overhead crane manufacturer KCI Konecranes has reported a 33% rise in sales for 2005 compared to the previous year. Sales rose to € 970.8 million (US$1.1 billion), with strong growth noted in the US, Asia, Australia, eastern Europe and Scandinavia. Operating income rose 57% from €18 million ($21 million) to €49 million ($58 million).

KCI Konecranes president and CEO, Pekka Lundmark, said, “The fact that we set new records in respect of all our key business indicators – orders, sales, profits and cash flow – in the last quarter of the year gives us good cause for optimism in the future.”

Despite the positive figures, Lundmark said, “We still have a lot of work left to do, particularly in improving our margins. We are, nevertheless, moving in the right direction, thanks to the various measures that we have already launched.”

The company forecasts that the acquisition of R Stahl Fördertechnik will add between € 120 and 130 million ($143 and 155 million) to group sales during 2006. Further acquisitions have not been ruled out as KCI said “selected” purchases would be considered.

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