Konecranes has announced its financial results for the first half of 2022 and the second quarter of the year.
During the second quarter, order intake reached US$1.02 billion, translating to an increase of 24.9% compared with the same period last year. The order book reached US$2.87 billion at the end of June, an increase of 43.1%. Additionally, sales amounted to US$798.62 million, an increase of 3.7%.
Furthermore, the operating profit of the company was US$48.91 million.
Meanwhile, during the first six months of the year, the order intake was US$2.07 billion, up 29.8%. Additionally, sales reached US$1.48 billion, down 0.3%, and the operating profit reached US$29.12 million.
In Europe and North America, the demand environment in the industrial customer segments is on a healthy level, according to the company, which, however, said that there are some early signs of weakening.
On the other hand, in Asia Pacific, the demand environment has started to show signs of improvement, according to Konecranes, while global container traffic continues to be high and the long-term outlook for global container handling remains good.
Konecranes expects net sales to remain flat or increase in the full year 2022 compared to 2021.
“In Q2, Konecranes’ operating environment and performance continued similar to the previous quarter,” pointed out interim CEO of the company, Teo Ottola.
“Order intake remained high, but at the same time, profitability declined year-on-year mainly due to low sales volumes caused by component and material availability and Covid-19 related challenges. Although we lowered our full-year 2022 guidance earlier this month, our record-high orderbook and strong performance focus provide a solid foundation for future success,” he added.
“Year-on-year, Konecranes’ Q2 orders received grew 19.9% in comparable currencies and surpassed €1 billion for a second consecutive quarter. Order intake in short-cycle products was better than expected,” he noted.
“Component availability and other supply chain constraints, as well as Covid-19 related challenges affected our revenues in all three segments in Q2. Eliminating the impact of price increases, sales decreased year-on-year in comparable currencies. As a result of our continued high order intake and delivery capability issues, our order book broke again a new record and was €2.8 billion at the end of June,” Ottola said.
