Konecranes reported record sales in 2023, despite noticing a weakening in some markets during the fourth quarter of last year.

For the full year, sales for the Finnish company was up 17.9% to EUR3.967 billion (USD4.27 billion), while the order intake declined by 1.6% to EUR4.161 billion (USD4.48 billion).

In the fourth quarter, sales rose 12.5% to EUR1.149 billion (USD1.24 billion) and the order intake fell by 3.6% to EUR926 million (USD997).

The company says it expects net sales to remain about same level during 2024 compared to last year.

“Looking into 2024, we expect the demand environment within our industrial customers to remain healthy, although market uncertainty is not over,” says Konecranes chief executive officer Anders Svensson.

“Regarding our port customers, container throughput continues to be on a high level, and long-term prospects related to container handling remain good. 

“Our Port Solutions sales pipeline includes projects of all sizes, but quarterly order intake fluctuation is normal for the business, as the booking of orders depends on the timing of customer decision-making.” 

Svensson says 2023 was a strong year for Konecranes.

“Despite the macro-concerns around us, our order intake remained on the same level as the previous year,” he says. 

“Every quarter, our sales and comparable EBITA margin grew year-on-year. Our 2023 sales and comparable EBITA margin were both an all-time high. This is an excellent achievement, and I am proud of the hard work and commitment of our team throughout the year.” 

The order intake for Konecranes Service unit increased 8.5% year-on-year in the fourth quarter, while orders in the Industrial Equipment segment rose 4% and the Port Solutions business reported a 15.7% decline in its order intake.