Postponements of a small amount of deliveries from fourth quarter 2009 to first quarter 2010 could lead full year 2009 sales to be slightly lower than previously estimated
Operating margin estimate remains unchanged, however Konecranes will have a large number of customer deliveries around the year end.
"This is a pattern well known from previous years, and it makes the estimation of the full year sales difficult, since certain deliveries could fall on either side of the New Year," said a company statement.
"Often the final delivery time is also dependent on when the customer’s site is ready to receive the equipment.
"Due to this uncertainty, based on the currently available information there is a possibility that the full year sales decline will be slightly more than earlier estimated.
"The uncertainty is entirely due to the timing of certain deliveries, and there has not been any material increase in order cancellations."
Konecranes estimated in its third quarter interim report the 2009 full year sales to be 17-20% lower than the level of full year 2008, but indicated the actual sales decrease would be close to the upper end of that range.
Cost reduction actions are proceeding according to the plan, and Konecranes expects to meet its earlier operating margin forecast in spite of the possibility for slightly lower sales.
Konecranes’ full year 2009 operating margin estimate remains unchanged at 6.5-7.5% of sales, excluding the estimated restructuring costs of E17-22M communicated in the third quarter interim report.
