– Orders received increased 8 percent to EUR 3,307 (3,058) million.
– Sales fell 4 percent to EUR 3,181 (3,327) million.
– Operating profit excluding restructuring costs was EUR 126.5 (157.5) million, representing 4.0 (4.7) percent of sales.
– Operating profit was EUR 92.5 (131.4) million, representing 2.9 (3.9) percent of sales.
– Cash flow from operations before financial items and taxes totalled EUR 180.9 (97.1) million.
– Net income for the financial period amounted to EUR 55.4 (89.5) million.
– Earnings per share was EUR 0.89 (1.45).
The Board of Directors proposes a dividend of EUR 0.41 per class A share and EUR 0.42 per class B share be paid.
Outlook for 2014
Cargotec’s 2014 sales are expected to grow from 2013. Operating profit excluding restructurings costs for 2014 is expected to improve from 2013. The acquisition of the Aker Solution’s mooring and loading systems unit was completed 30 January 2014. Consolidation of the acquisition does not impact Cargotec’s above-mentioned outlook for 2014.
Cargotec’s President and CEO Mika Vehviläinen:
“Despite our many achievements, 2013 was financially disappointing. However, it was pleasing during the fourth quarter to see the amount of orders received increase, while cash flow continued to strengthen from the third quarter.
MacGregor’s growth strategy progressed significantly during the fourth quarter. Announced in July, the acquisition of Hatlapa was completed in October. Then we also announced our intention to acquire the Aker Solutions’ mooring and loading systems unit. These acquisitions will position MacGregor as a leading player in the offshore equipment market.
Our main target is to improve our profitability. During 2013, a great deal of work was done in developing our strengths. Although much remains to be done, I expect our efforts to bear fruit this year and also to be reflected in the results.”