Annual General Meeting 18 March 2015 - Cargotec · Outlook Market outlook Cargotec’s 2015 outlook...
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Transcript of Annual General Meeting 18 March 2015 - Cargotec · Outlook Market outlook Cargotec’s 2015 outlook...
Annual General Meeting 18 March 2015
President and CEO Mika Vehviläinen
Achievements
18 Mar 2015 3
Profit improvement programmes had a positive impact in Kalmar and Hiab
Successful acquisitions in MacGregor
Reorganisation programme launched in MacGregor
Development of business control environment
Challenges
18 Mar 2015 4
Cost overruns in Kalmar projects
MacGregor market environment
Operational development not ready
2014 events
18 Mar 2015 5
Major orders
Product launches
Investment in Poland
Major orders in 2014
18 Mar 2015 6
Port automation project, Melbourne, Australia
More than 400 Ottawa terminal tractors, North America
559 demountables and 237 loader cranes, Australia
Loader cranes and related services order, UK
Optimised cargo handling systems for seven container vessels, South Korea
Deck handling equipment for six anchor handling tug supply vessels, Norway
MacGregor service – productivity care
18 Mar 2015 7
Kalmar Ottawa terminal tractor and electric forklift for industrial applications
18 Mar 2015 8
HIAB S-HiPro 130 crane designed for waste handling
18 Mar 2015 9
Revolutionary and environmentally sound pre-treatment and paint process, nDurancenTM
18 Mar 2015 10
Hiab’s factory in Poland opened
18 Mar 2015 11
Order book grew 11 percent
2,356
2,426
2,021 1,980
2,200
2,729
3,233 3,058
3,307 3,599
2010 2011 2012 2013 2014
Order book Orders received
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MEUR
3,000
4,000
2,000
1,000
0
Sales grew six percent
2,575
3,139 3,327
3,181 3,358
2010 2011 2012 2013 2014
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MEUR
13
3,000
4,000
2,000
1,000
0
Operating profit margin increased to 4.4 percent
5.5
6.6
4.7
4.0 4.4
0
2
4
6
8
2010 2011 2012 2013 2014
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%
14
excluding restructuring costs
MacGregor – profitability burdened by one-off items and low delivery volume in merchant ships
Orders received grew 20% from 2013 Contribution of acquired
businesses EUR 121 million
Order book grew 15% from 2013
Sales grew 30% from 2013 Contribution of acquired
businesses EUR 61 million
Profitability 5.2% excluding restructuring costs PPA depreciation and amortisation
EUR 10.0 million
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361
304
218
301
6.6 8.0
0
2
4
6
8
10
0
100
200
300
400
Q4/13 Q1/14 Q2/14 Q3/14 Q4/14
Orders Sales Operating profit %
MEUR %
* excluding restructuring costs
Kalmar – profit improvement measures had a positive impact on operating profit Orders received grew 4% from 2013
Sales declined 4% from 2013
Profitability 3.8% excluding restructuring costs Cost overruns in projects EUR 52 million
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357 378
468 452
5.5
7.6
-8
-6
-4
-2
0
2
4
6
8
10
0
100
200
300
400
500
Q4/13 Q1/14 Q2/14 Q3/14 Q4/14
Orders Sales Operating profit %
MEUR %
* ilman uudelleenjärjestelykuluja
Hiab – operating profit clearly improved as a result of actions taken to improve profitability
Orders received grew 5% from 2013
Sales were at 2013 level
Profitability 7.3% excluding restructuring costs
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241 232 229
211
1.7
8.4
0
1
2
3
4
5
6
7
8
9
0
50
100
150
200
250
300
Q4/13 Q1/14 Q2/14 Q3/14 Q4/14
Orders Sales Operating profit %
MEUR %
* excluding restructuring costs
Cargotec’s must wins 2013–2014
Converting Hiab’s high business potential into profitability
Creating solid platform for growth through successful integration of acquisitions in MacGregor
Safeguarding competitiveness in mobile equipment in Kalmar
Driving services offering development and growth in MacGregor and Kalmar
Driving growth in automation in Kalmar
18 Mar 2015 18
Cargotec’s must wins 2015–
Driving Hiab to best in class profitability and capital return
Driving MacGregor profitability over the cycle through better effectiveness
Safeguarding competitiveness in mobile equipment in Kalmar
Driving services offering development and growth in MacGregor and Kalmar
Driving growth in automation in Kalmar
18 Mar 2015 19
Outlook
Market outlook
Cargotec’s 2015 outlook published on 10 February still valid: Cargotec’s 2015 sales are expected
to grow from 2014 (3,358 MEUR). Operating profit excluding
restructuring costs for 2015 is expected to improve from 2014 (149.3 MEUR).
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Cargotec financial targets for 2016
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Operating profit (EBIT)
Return on capital employed (ROCE pre-tax)
Gearing Dividend
of earnings per share
Future of cargo handling relies on smart sustainability and digitalisation
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Our market leading brands guarantee the highest value for our customers
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