42-WCN-Feb09:Layout 1 21/2/09 09:46 Page 1
WorldCargo
CARGO HANDLING
news
Now is the winter of our discontent
A good place to start is Demag
Cranes AG, as the first quarter of
Three of the biggest container handling equipment
its 2008-2009 financial year is 4Q/
suppliers are publicly-listed in Europe. Their results
08, when the downturn in con-
tainer handling became apparent.
provide “transparency” and emblematise the current
The company notes that in 4Q/
08 the World Economic Climate downturn in the port and intermodal sectors
Index produced by the IFO World
Economic Survey fell to its low- exports particularly have felt the casts, but believes the segment is have a negative impact on busi-
est level for more than 20 years. impact of the decline in demand well positioned. ness in the port technology seg-
The automation project for HHLA’s Burchardkai, Hamburg terminal is one
“This fall in the indicator is the all over the world.” ment in the course of the current
area where Kalmar is understood to have experienced cost overruns
result of an even gloomier view Port sector financial year. Over the medium
of the economic situation and Moderate fall The Gottwald Port Technology and long term, however, experts 1Q/07-08, revenue in the intake in 4Q/07 (€1.214B) Sales
lower expectations for the next six For 1Q/08-09 compared to 1Q/ segment is dependent on world- still expect further growth in glo- Gottwald segment fell by 4.1% to in 2008 increased by 13% to
months,” notes Demag. 07-08, Germany-based Demag re- wide cargo volumes and growth bal cargo traffic and therefore con- €64.3M largely due to customers €3.399B, with 4Q/08 sales up by
“On this occasion, the down- ports a moderate fall in group or- in container handling. The impact tinuing demand for the relevant postponing investments. “This 6% to €924M.
turn in the global economic cli- der intake, by 4.6% to €281.3M, of the financial and economic cri- handling equipment. decline is equivalent to one to two For the year as a whole,
mate affected not only the large with group revenue up by 4.1% sis was most obvious during 4Q/ “The services segment saw lit- fewer cranes compared with a year Cargotec’s service sales came to
economic regions of North to €303M and group operating 08. Cargo volumes on the main tle of the effects of cyclical fluc- earlier.” However, revenue in the €871M, compared to €757M in
America, Western Europe and EBIT up by 1.9% to €30.5M. container routes are declining as tuations in the course of the past services segment rose by 3.6% to 2007, and they accounted for 26%
Asia, but also Central and Eastern In the industrial cranes seg- a result of falling demand and quarter. The Management Board €85.3M. “The segment benefited of total sales 925% in 2007).
Europe, Russia and Latin America. ment, the decline in demand in major projects and investment believes this segment is well pre- from a stronger field service team In 2008, Kalmar’s order intake
The euro zone economy slipped the mature markets contrasted decisions are being postponed. pared to face an economic down- and a healthy spare parts business.” increased by 10% to €1.566B and
into recession for the first time with growth potential in the “These developments are now turn. This segment will not be The Board has not yet issued sales increased by 13% to €1.515B.
since monetary union began. emerging markets in the first quar- affecting both the mobile harbour badly affected by a slight decline a full-year forecast for 2008-09 In 4Q/08 Kalmar’s order intake
“Nearly all businesses, includ- ter of the financial year. crane business and, in particular, in capacity utilisation because due to the unpredictable eco- increased marginally on the fig-
ing the majority of our custom- Due to the segment’s higher terminal automation projects, as equipment will have to be main- nomic environment. “We would ure for 4Q/07 to €348M, but this
ers, have felt and are feeling the dependence on economic cycles, the original schedule for their tained as usual in the interests of like to wait and see how the sec- was principally due to the large
increasing effects of the global the Management Board continues implementation has been thrown safety, reliability and availability.” ond quarter of the financial year order for RTCH reach stackers
economic downturn. German to find it difficult to make fore- into question, which in turn will Comparing 1Q/08-09 with develops before deciding whether from US-TACOM.
conditions are appropriate for us Cargotec notes that the mar-
to issue a firm year-end forecast,” kets for container handling equip-
said CEO Harald J Joos. ment remained healthy until 4Q/
08, when the economic uncer-
Finnishing touch tainty began to be reflected in
Big Forklifts & Reachstackers
For the whole of 2008, Kone- customers’ investment decisions.
cranes’ order intake and sales in-
creased by 10.4% and by 20.2% Restructuring
to €2.067B and €2.102B respec- Last September Cargotec began a
tively compared to 2007, with series of restructuring measures to
operating profit up by 42.3% to reflect the signals of the economic
€248.7M. slowdown, but it says that the
In 4Q/08 order intake fell by speed of the market deterioration
13% compared to 4Q/07, to was unanticipated and profitabil-
€409.6M. In the service segment ity suffered in the second half of
order intake was up by 4.5%, but 2008. Restructuring has contin-
it fell by 8.3% in standard lifting ued into this year due to the fur-
and by 29.6% in heavy lifting, ther weakening of the markets.
which includes port handling. “We continue our actions to
In heavy lifting, 2008 order improve our efficiency and global
intake overall increased by 10.6% footprint to build a stronger and
to €686M. A substantial decline in more competitive Cargotec,” said
port and shipyard orders in Ameri- CEO Hans Mäkinen.
cas and APAC was compensated Mäkinen also drew attention
Belotti, B91, 42 tons, Stacking 4 high, Piggyback, Year: 1994 Boss, B5ECH, 7 Tons, Empty handler, Stacking 5 high, Year: 1996
by good orders for port equip- to “unexpected problems” at
ment in EMEA. The decrease Kalmar. To put this in perspective,
noted in 4Q/08 was due to slack- in 4Q/07 Kalmar’s operating
ening demand for both port and profit was €26.9M, but that was
process cranes. Despite good-size after deducting a “one-off” charge
port orders in 4Q/08, order in- of €18M relating to a Bromma
take decreased by 26.8% com- spreader inspection and repair pro-
pared to 3Q/08. gramme. In 4Q/08, Kalmar’s op-
erating profit was €12.1M, or
Warning signs €16.6M if the one-off charge of
“It was clear throughout the year €4.5M for restructuring measures
that it would be only a matter of in the quarter is added back in.
time before the turbulence in the
financial market that started in Cost overruns
summer 2007 would start to take Kalmar’s operating profit for 2008
a toll on the real economy,” said “includes a significant amount of
Konecranes’ president and CEO expenses due to cost overruns in
Pekka Lundmark. “A sudden and projects” in a total amount of
abrupt drop in demand hit us in €16M, of which €4M was booked
November...customers all over the in 1Q/08, €5M in 3Q/08 and
Kalmar, DRF45070C5XS, 45 Tons, Stacking 5 high, Piggyback, Front Kalmar, DCB-42-1200, 35 Tons in Spreader, Sideshift/Forkpositioner,
stabilisers, Year: 2004 Forks, Year: 1996
world and in all industries put in- €7M in 4Q/08. One such project
vestments on hold, taking a wait- is believed to be the turnkey au-
USED REACHSTACKERS/ FORKLIFTS/CONTAINER HANDLERS FOR SALE
and-see attitude. tomated yard project for HHLA
“We are not immune to a re- at Burchardkai. To avoid overruns
Kalmar, DRF45070C5XS, 45 tons, 5 High, Piggyback, 2004 cession,” he continued, “but we see in future, a joint project manage-
Belotti, B91, 42 tons, 4 High, Piggyback, 1994
the situation as a great opportu- ment office has been set up using
Kalmar, DCB-42-1200, 3 High, Sideshift/Forkpositioner, Forks, Spreader,1996
nity to further strengthen our rela- software and tools that MacGregor
tive position on our journey to- was already using.
Kalmar, DC-42-1200, 3 High, Sideshift/Forkpositioner, Forks, Spreader,1989
ward our vision of holding a 30% Profitability was also affected
Kalmar, DCE-160-12, Triplex 5.5 mtr, Sideshift/Forkpositioner, Forks,2009 (2 units) market share.” by rising raw material and com-
Kalmar, DCE-140-6, Duplex FFL 4750 mm, Sideshift/Forkpositioner, Forks,2003 (2 units)
Lundmark stressed Kone- ponent costs, which continued to
Boss, B5ECH, 5 High Empty containerhandler, 1996
cranes’ ongoing commitment to rise during the second half. Clear
R&D. This is aimed at delivering signs of falling costs due to reduc-
SMV, ECB5/6, 9 Tons, 6 High Empty containerhandler, 2004
safety and environmental features tions in raw material prices and
that will last for the lifetime of the lower capacity utilisation rates
Also several smaller forklifts available! Shipment can be arranged by us Worldwide.
products, as well as increased lev- among subcontractors emerged
CONTACT:
els of automation and integration. only at the very end of the year.
Cargotec’s report lists all ma-
Tinus de Ruiter Mixed bag jor orders during 2008 for the
GT Vorkheftrucks BV
The other Finnish giant, Cargotec Kalmar, Hiab and MacGregor seg-
- Kalmar (including Bromma), ments, as well as acquisitions in-
Nijverheidsweg 10
MacGregor (bulk handling equip- cluding service company acquisi-
3762 ER Soest
ment as well as offshore and ship- tions and new service contracts.
The Netherlands
www.used-reachstackers.com
board and ship access) and Hiab A new order just announced for
(including Multilift) - reported the Hiab segment is for 292 type
Tel.Int: +31-35-6030599 Fax.Int: +31-35-5885198 Email:
gt@gtvorkheftrucks.nl
total order intake of €3.769B in 222ATF-1 loader cranes for BAE
2008 compared to €4.106B in Systems, Inc. The end user is the
Website:
www.gtvorkheftrucks.nl
2007. In 4Q/08, order intake came US Army and most of the deliver-
to €633M, almost half the order ies will be made this year. a74
42 February 2009
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