Konecranes, a smart port solutions provider, has posted strong results and solid order growth in Q3 2018, according to the company’s latest interim report.
Growth was particularly significant in the Service and Industrial Equipment segments, the order intake of the former increasing by 4.4% compared to Q3 2017.
The Service order intake for January to September 2018 was also up on the previous year, an increase from USD $830.2 million to $839.1 million marking a 1.1% rise from the first three quarters of 2017.
Sales were improved in Q3 2018 as well, with progression in all business areas contributing to a total figure of $911 million between July and September. This represents a 7.2% increase from Q3 2017.
The company has also looked ahead to the end of 2018, and expects sales for the whole year to be approximately at the same level or higher than 2017.
In addition to this, Konecranes has predicted that its adjusted EBITA margin will show improvement from 2017 to 2018.
Dr-Ing Armin Wieschemann, Konecranes, discusses automation and electric drives in a recent Port Technology technical paper
Panu Routila, President and CEO of Konecranes, commented: “Despite the increased uncertainty in the world economy, our own demand environment within the industrial customer segments continues to improve in EMEA and the Americas.
“That said, signs of stabilization have become visible. The two cornerstones of our medium-term strategy; growth in Service and capturing MHPS acquisition related cost synergies, are progressing well and according to our plans.
“Our confidence in reaching our target of EUR 140 million run-rate cost synergies by the end of 2019 continues to be strong, and we have reiterated our financial guidance for full year 2018.”