Konecranes has revealed its financial results for 2015, in which the company revealed an order intake of over US$2 billion for the year, recording $558 million for Q4.
The company’s sales hit $2.3% for the year of 2015, an increase of 5.7%.
Panu Routila, President and CEO of Konecranes, said: “Our Q4, 2015 results came close to our expectations with group orders, sales, and operating profit, excluding non-recurring items, being near the previous year’s levels.
“We were able to generate modest sales growth at comparable currencies despite the fact that many of our industrial customers experienced headwinds in their businesses.
“At the same time, the demand among industrial customers continued to be sluggish, particularly in emerging markets.
“On the other hand, our cost savings actions are delivering the expected results. [The] business area equipment order book was up 5.3% on a year-on-year basis at year-end 2015, incorporating a solid outlook for container handling equipment deliveries in 2016.
“We are making changes to bring more direct business commandership into our ways of working, and some may welcome this as an overdue development.”
A pdf version of the Konecranes’ full audited financial statements, including the report from the board of directors and a corporate governance statement, will be available online from March 1, 2016, and the printed version during the following week.
Konecranes has also announced that its Board of Directors has come to unanimous agreement with Terex regarding a definitive agreement to combine their businesses in a merger of equals.
“Merger-related integration planning has started in good cooperation,” according to a Konecranes statement, which added that the “…integration teams are making progress in detailing the previously announced operational synergy opportunities and developing plans to achieve these cost savings.”
The combined Konecranes-Terex company have obtained antitrust clearances in India and Turkey and made merger-related filings to the US Department of Justice.
The transaction remains still remains subject to approval by Terex and Konecranes shareholders, regulatory approvals and other closing conditions.
Closing of the transaction is expected to occur approximately mid-year 2016.
Both companies have stated that the merger will not be affected by a recent US$3.3 billion offer for Terex from Chinese company Zoomlion.