Konecranes has reported an increase in order intake and sales in the first half of this year but warned of ongoing volatility and uncertainty in worldwide demand for materials handling.

Svensson

The Finnish lifting specialist says while order intake rose 1% overall in the second quarter, orders for industrial equipment were down. For the first half, orders were up 9.3% to EUR2.83 billion (USD 3.14 billion).

Konecranes says sales were up 16% in the second quarter and 24.2% in the first half. 

Chief executive officer Anders Svensson says despite some economic headwinds the company reiterates its financial guidance for the full year and expects net sales to increase over 2022.

“For the remainder of 2023 we expect market volatility and uncertainty to continue,” Svensson says. 

“While in the second quarter our demand remained good, the macroeconomic indicators continued to signal weakening operating conditions. 

“Although we continue to see some signs of slowing down within our industrial customer segments, we expect demand to remain on a healthy level.”

Svensson adds: “Despite our continued good sales execution in the second quarter, material availability challenges are not over, and supply chains remain fragile.”

Svensson says the company’s financial performance in the second quarter of this year was “strong”.

“Both orders received and sales grew year-on-year,” he says. 

“We posted a record-breaking second quarter comparable EBITA margin of 10.8%, powered by continued good delivery capability and a positive pricing impact. 

“Our all-time high orderbook of €3.4 billion and continued strong performance provide a solid foundation for reaching our new, ambitious financial targets.”

During the second quarter, Konecranes completed its divestment of MHE-Demag’s Industrial Products business and announced the acquisition of Whiting Corporation’s industrial and nuclear crane and crane service businesses. https://www.forkliftaction.com/news/konecranes-buys-whiting-division.aspx?n=26855

The company also acquired the industrial crane service business of Munck Cranes AS in Norway.

“The two bolt-on acquisitions strengthen our industrial service business with access to new customers and cranes to service,” Svensson says.