Operating profits up fourfold for Konecranes30 October 2001
KCI Konecranes, the Finnish manufacturer of overhead cranes, reported a sales growth of 23% in the first six months of 2001.
Total sales for the period were 358.4m Euros. Operating income rose from 4.1m Euros for the first half of 2000 to 20.7m Euros for the first half of 2001.
Group net income for the period was 13.4m Euros or 3.7% on sales compared to 1.4m Euros (0.5% on sales) in the previous year. Return on total capital employed was 19% and return on equity 18%. The corresponding figures for 2000 were 6% and 2%.
Strongest growth was in the Special Cranes business segment, where sales were up 60% to 107m Euros. Sales in Maintenance Services grew 17% to 170m Euros, and Standard Lifting Equipment rose 5% to 117m Euros.
Chief executive officer Stig Gustavson said that although sales of standard lifting products were relatively flat, as markets were down on average by 20% this meant that, with the new CXT ‘fat drum’ hoist, the company was gaining market share.