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Konecranes operating profit exceeds US$240 million in 2022

Finnish port equipment manufacturer Konecranes reported an operating profit of approximately US$242 million for 2022 in its annual financial report.

The company's adjusted earnings before interest, taxes, and amortization (EBITA) rose to around US$344.6 million, with an adjusted EBITA margin of 9.5%, while the order intake of Konecranes reached US$4.2 billion.

"The year-on-year profitability gap continued to narrow [in the fourth quarter of 2022] from the previous quarters, reflecting the positive impact of the price increases implemented earlier last year. We expect the positive pricing impact to continue in 2023," stated CEO of Konecranes, Anders Svensson.

Furthermore, the company achieved sales growth, reaching US$3.6 billion. Moreover, free cash flow decreased to US$ 26.6 million while, on the other hand, net debt rose to approximately US$746 million.

"We expect our net sales to increase in full-year 2023 compared to 2022 and our full-year adjusted EBITA margin to improve from 2022. Although our delivery capability has improved, material availability challenges and supply chain constraints are not over, and we expect them to continue to impact our performance this year," commented Svensson.

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