Konecranes (KCR) Q4 2024 earnings summary

Executive summary

• Achieved record Q4 order intake of EUR 1.17 billion, up 26% year-over-year, and record quarterly sales of EUR 1.21 billion, up 5.5% year-over-year, with all-time high comparable EBITA margin of 13.2%.

• Free cash flow was exceptionally strong at EUR 170 million for Q4 and EUR 427 million for the full year; proposed dividend of EUR 1.65 per share, EUR 0.30 higher than previous year.

• CEO announced departure effective mid-2024; board has initiated search for successor, with transition planned for July 2025.

Financial highlights

• Group sales grew 5.5% year-over-year in Q4 to EUR 1,212.5 million; all segments contributed to growth.

• Comparable EBITA for Q4 was EUR 159.5 million (13.2% margin), up 150 basis points year-over-year; full-year EBITA margin reached 13.1%.

• Net profit for Q4 was EUR 108.3 million, up 12.3% year-over-year; EPS (basic) was EUR 1.37.

• Net working capital at EUR 380 million, 9% of rolling 12-month sales, below 12% target.

• Gearing reduced to 9.9% at year-end; return on capital employed above 20%.

Outlook and guidance

• Net sales and comparable EBITA margin expected to remain at or above 2024 levels in 2025.

• Service segment targets continued growth and margin improvement through productivity and new offerings.

• Optimization program in Industrial Equipment expected to yield EUR 10 million improvement in 2025.

• Demand environment in industrial segments remains healthy globally; port segment outlook is positive with high global container throughput.