2024-07-26 15:56:02 ET
Konecranes Plc (KNCRF)
Q2 2024 Earnings Call
July 26, 2024 04:30 ET
Company Participants
Kiira Froberg - Investor Relations
Anders Svensson - President and Chief Executive Officer
Teo Ottola - Chief Financial Officer
Conference Call Participants
Antti Kansanen - SEB
Tom Skogman - Carnegie
Tomi Railo - DNB
Mikael Doepel - Nordea
Panu Laitinmäki - Danske Bank
Presentation
Kiira Froberg
Here with me today, I have our President and CEO, Anders Svensson; and our CFO, Teo Ottola. Before we start, a kind reminder, this presentation contains forward-looking statements. Next, Anders and Teo will walk you through our Q2 results. Anders will start with the group numbers, after which Teo will focus on the business segments. The presentation is followed by a Q&A as usual.
But now, Anders, the stage is yours.
Anders Svensson
Thank you, Kiira and welcome also from my side to this webcast for the result of the second quarter. The headline of the quarter is record high comparable EBITDA margin in all business segments. The demand environment remained healthy during the second quarter, even if it was down 11% on a strong comparable in the previous year.
Sales execution was strong and we delivered above €1 billion of sales, up 13% versus the previous year and that gave us record high comparable EBITDA margins of 14.3%, and it was actually all-time high in all business segments. And the profitability improvement was mainly driven by higher volumes and also by price inflation management, and a strong strategy execution.
I am moving to the market environment and start with our industrial customer segment. If you look at the manufacturing capacity utilization rate, starting in the EU, it was down sequentially and also down on a year-over-year comparison with 2.3 percentage points. In U.S., however, sequentially, it was up. And if you look on a year-over-year comparison, it’s actually quite flat.
If we then move into the global manufacturing PMI, that was in expansion. However, if you look at the eurozone, still in contraction while U.S., China, India and Brazil, clearly in expansion. I move over to our Port Solutions customer segments. And here, we normally look at the global container throughput index. And if you look at this, it continued on a high level. And on a year-over-year comparison, it’s up 6%. And that should talk about the strong market climate for our Port Solutions customers....
Read the full article on Seeking Alpha
For further details see:
Konecranes Plc (KNCRF) Q2 2024 Earnings Call Transcript