KCI KONECRANES COMMENTS ON FULL YEAR 2003 RESULTS
The demand for industrial cranes in Europe and North America
remains weak and no immediate return to growth is expected.
The demand for maintenance services continues to grow, in spite of
low capacity utilisation in most customer industries. The growth
is, however, slower than before.
Capacity rationalisation and efficiency increasing actions as per
Q1/03 report of May 6, 2003 continue and have been intensified. The
separate actions in this capacity rationalisation and efficiency
increasing program have now been defined. Altogether, these actions
are expected to accumulate 7 million euros in one time charges. The
program will affect several Group subsidiaries in America and
Europe, incl. Finland.
Regarding the underlying profits, we reiterate our statement in the
Q1/03 report:" The profit level of 2002 remains within reach,
however, the business environment remains very challenging."
However, due to the one time charges mentioned above, KCI
Konecranes total operating profit will stay below the level of
2002.
The Interim report January - June 2003 will be published on August 7,
2003 at 10.00 a.m. Finnish time.
KCI KONECRANES PLC
Franciska Janzon
IR Manager
FURTHER INFORMATION
KCI Konecranes Plc
Mr Stig Gustavson, President and CEO, tel. +358-20 427 2000
Mr Teuvo Rintamäki, Chief Financial Officer, tel. +358-20-427 2040
DISTRIBUTION
Helsinki Exchanges
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