Newsletter #196 (View other news stories)
KCI Konecranes issues financial results
HYVINKAA, Finland
Thursday, 17 Feb 2005
Group sales for KCI Konecranes increased 9.5 per cent for financial year 2004 while operating income increased 74.1 per cent.
According to a company statement, all business areas contributed to sales growth with the strongest growth in Asia and Africa, but there was growth also in US and Europe as a whole.
Standard lifting equipment sales were EUR231.2 million (USD300.4 million), an 8.9 per cent growth. Operating income was EUR21.0 million (USD27.3 million), 19.3 per cent higher than in 2003. The operating income margin was 9.1 per cent.
Increased profitability for standard lifting equipment was based on sales growth and lower unit costs.
"The negative impact of the stronger euro was approximately EUR6 million (USD7.8 million). Purchase price increases and difficulties getting certain materials and components also affected the operating income negatively, to some extent. The group has aimed to transfer material price increases to sales prices in full," Konecranes said.
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