2024-02-02 10:56:03 ET
Konecranes Plc (KNCRF)
Q4 2023 Earnings Call Transcript
February 02, 2024 4:30 AM ET
Company Participants
Kiira Froberg - Vice President of Investor Relations
Anders Svensson - President & CEO
Teo Ottola - Chief Financial Officer
Conference Call Participants
Daniela Costa - Goldman Sachs
Antti Kansanen - SEB
Mikael Doepel - Nordea
Erkki Vesola - Inderes
Tomi Railo - DNB
Tom Skogman - Carnegie
Presentation
Kiira Froberg
Good morning, everyone, and welcome to Konecranes' Earnings Conference. My name is Kiira Froberg, and I'm the Head of Investor Relations at Konecranes.
Here with me today, I have our President and CEO, Anders Svensson; and our CFO, Teo Ottola. We have renewed our presentation a bit. In case, you have not noticed, Konecranes launched its new brand identity for a couple of weeks ago. Our new brand promise is Konecranes Moves What Matters. And the earnings presentation reflects the new brand visual look.
Before we start the actual presentation, I would kindly remind that the presentation contains forward-looking statements. The agenda is the usual one. Anders will start by walking through the group level results, after which Teo will focus on the business segments. And after the presentations, we will have a Q&A as usual.
Please, Anders, I think it's time for you to start.
Anders Svensson
Thank you, Kiira, and a warm welcome also from my side to this webcast.
Before we dive into the quarter 4 numbers, I want to talk a little bit about 2023 as a full year. So, 2023 was a fantastic year for Konecranes. We closed the year with an order intake that was flat versus 2022, and 2022 was an all-time high record. We also delivered in 2023, an all-time high sales and an all-time high comparable EBITA margin. The cash flow was strong, and the order book is set up for a good 2024.
Into the quarter 4 then. So the demand environment remained good in general. Orders were minus 2% year-on-year in comparable currencies versus the previous year. Sales exceeded €1.1 billion, and that was up 16% year-on-year in comparable currencies. Comparable EBITA improved slightly year-on-year to 11.7%. The improvement was driven by higher sales volumes and pricing. Comparable EBITA improved in Port Solutions and in Industrial Equipment. Cash flow continued strong at €167 million for the quarter. The 2023 dividend proposal from the Board is €1.35 per share. We have also updated our demand outlook and the financial guidance for 2024....
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Konecranes Plc (KNCRF) Q4 2023 Earnings Call Transcript