Annual General Meeting 20 March 2013 · Annual General Meeting 20 March 2013 President and CEO Mika...
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Transcript of Annual General Meeting 20 March 2013 · Annual General Meeting 20 March 2013 President and CEO Mika...
Annual General Meeting 20 March 2013
President and CEO Mika Vehviläinen
2012 financials
Orders received declined five percent
2008 2009 2010 2011 2012
20 Mar 2013
MEUR
4
5,000
4,000
3,000
2,000
1,000
0
Sales grew six percent
2008 2009 2010 2011 2012
20 Mar 2013
MEUR
5
4,000
3,000
2,000
1,000
0
Profitability from operations declined to 4.7
percent
0
2
4
6
8
2008 2009 2010 2011 2012
20 Mar 2013
%
6 excluding restructuring costs
MacGregor – margin remained strong
Profitability at strong level, 13.2%
Demand for marine cargo handling
equipment for offshore support
vessels, RoRo vessels and bulk
terminals remained healthy
Orders received declined 28%
compared to 2011
Sales declined 12% from 2011
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0
2
4
6
8
10
12
14
16
18
2010 2011 2012
Orders Sales Operating profit%*
MEUR %
* excluding restructuring costs and including
capital gain
1,400
1,200
1,000
800
600
400
200
0
Kalmar – profitability hampered by cost
overruns on large projects
Demand for container handling
equipment was brisk
Orders received was at year 2011 level
Sales grew 23% from 2011
Profitability excluding restructuring
costs was 2.3%
Cost overruns on large projects
Low relative share of services
Investment in port automation
technology
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0
2
4
6
2010 2011 2012
Orders Sales Operating profit%*
MEUR %
* excluding restructuring costs
1,400
1,200
1,000
800
600
400
200
0
1,600
Hiab – orders and sales grew nine percent
Demand for load handling equipment was
healthy – strong in Americas, softer in
Europe
Orders received and sales grew 9% from
2011
Profitability excluding restructuring costs
was 3.2%
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0
1
2
3
4
0
100
200
300
400
500
600
700
800
900
2010 2011 2012
Orders Sales Operating profit%*
MEUR %
* excluding restructuring costs
Growth in Kalmar and Hiab tied capital and
reduced cash flow
0
100
200
300
400
2008 2009 2010 2011 2012
20 Mar 2013
MEUR
10
Geographical split of sales and personnel
almost unchanged
40 %
36 %
24 %
Sales
EMEA APAC Americas
(40)
20 Mar 2013
58 % 28 %
14 %
Personnel (end of period)
EMEA APAC Americas
(39)
(21)
(59)
(28)
(13)
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Achievements in 2012
Development of operations and significant
projects
Joint Ventures in China
Expansion of the factory in Poland
Tampere Technology and Competence
Centre
Investment in R&D
Many significant orders around the world
Several port automation projects
New operating model
MacGregor listing preparations
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Tampere Technology and Competence
Centre
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Cooperation for stronger R&D in Hiab
Objectives
New approach to control system to
improve operational safety
conditions and the efficiency of load
handling equipment
Advanced light materials in
structures to reduce weight and fuel
consumption
EU’s funding for the project EUR 1.4
million
Three academic partners in Poland
and Sweden
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Separate listing of MacGregor in Asia
A separate listing of MacGregor business area provides an opportunity to accelerate growth and value creation of the business.
Cargotec will retain majority stake in the listed subsidiary.
In February 2013, the Board decided to establish the domicile of the future parent company of MacGregor business area in Singapore.
The management of MacGregor will be based in Singapore.
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Focus in 2013
Cost structure
Portfolio
Deliveries
Margin
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Outlook published on 12 February still valid
Cargotec’s sales are expected to
be slightly below 2012 and
operating profit excluding
restructuring costs to be at 2012
level.
Positive impact of efficiency
improvement measures
implemented will be weighted
on the second half of the year.
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