Finnish materials handling equipment manufacturer Konecranes has updated its financial targets “to reflect higher profitability ambition” and the realisation of financial targets set in 2023, it says.

Konecranes’ comparable EBITA margin target range has been upgraded to 13-16% which is “to be reached as soon as possible, but no later than in 2029”.

The company’s comparable EBITA margin target had been set at 12-15% to be reached no later than 2027.

Konecranes has raised the profitability target level of its Industrial Service and Industrial Equipment business areas, while its Port Solutions target remains unchanged.

Konecranes states that as well as having the ambition for sale growth which exceeds the market rate, it has now set the target for a 21-25% comparable EBITA margin for its Industrial Services division, an increase from the previous target of 20-24%.

The new comparable EBITA margin set for its Industrial equipment division is 8-11%, against the previous 8-10%. The comparable EBITA for its port solutions division remains unchanged at 9-11%.

Koncranes reported a 7.7% quarter-on-quarter increase in sales for Q1 of 2025 with orders for the year jumping 16.8% year-on-year to be valued at EUR1.06 billion (USD1.2 billion).