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Changing the Game annual report 2011 www.konecranes.com changing the game Konecranes Konecranes a n nual report 2011 nual WorldReginfo - 71675820-ae2f-44d6-8b30-9bd15cb7b68f Konecranes is an industry shaping, global group of dynamic lifting businesses™. We have a strong commitment to provide our customers With products and c orporate headquarters services of unrivalled quality, safety and reliability, Which results in improved efficiency and performance of our customers’ businesses. Konecranes plc P.O. Box 661 (Koneenkatu 8) through applying both our unique KnoWledge and technology, and responsive FI-05801 Hyvinkää, Finland service attitude of never letting the customer doWn, We are able to develop Tel +358 20 427 11 innovative and integrated lifting solutions that our customers can trust. Fax +358 20 427 2099 these solutions help increase customers’ productivity and safety, thus shoWing that We are not just lifting things, but entire businesses. g lobal business area headquarters service equipment Konecranes Service Corporation Konecranes Finland Corporation P.O. Box 135 (Koneenkatu 8) P.O. Box 662 (Koneenkatu 8) FI-05801 Hyvinkää, Finland FI-05801 Hyvinkää, Finland Tel +358 20 427 11 Tel +358 20 427 11 Fax +358 20 427 4099 Fax +358 20 427 3009 r egional headquarters americas n ordic, eastern europe and india Konecranes, Inc. Konecranes Region NEI 4401 Gateway Blvd. P.O. Box 662 (Koneenkatu 8) Springfield, OH 45502, USA FI-05801 Hyvinkää, Finland Tel +1 937 525 5533 Tel +358 20 427 11 Fax +1 937 322 2832 Fax +358 20 427 3009 Western europe, middle east and africa a sia-pacific Konecranes Region WEMEA Konecranes (Shanghai) Co., Ltd. P.O. Box 662 (Koneenkatu 8) Building 4, No. 100, Lane 2891, South Qilianshan Road FI-05801 Hyvinkää, Finland Shanghai, 200331, China Tel +358 20 427 11 Tel: +86 21 2606 1000 Fax +358 20 427 3009 Fax:+86 21 2606 1066 c orporate responsibility For corporate responsibility matters please contact [email protected] This publication is for general informational purposes only. Konecranes reserves the right at any time, without notice, to alter or discontinue the products and/or specifications referenced herein. This publication creates no warranty on the part of Konecranes, express or implied, including but not limited to any implied warranty or merchantability or fitness for a particular purpose. © 2012 Konecranes. All rights reserved. WorldReginfo - 71675820-ae2f-44d6-8b30-9bd15cb7b68f contents konecranes corporate 2 in a snapshot 26 responsiBility 2011 gri 4 highlights 32 ceo’s corporate 6 review 34 governance chairman’s risk management, internal 8 letter 44 control, and internal auditing company group executive 10 cornerstones 50 Board company extended 11 strategy 52 management team Business Board of 12 environment 54 directors Business area financial 14 service 57 statement 2011 Business area shares & 16 equipment 122 shareholders regional investor 18 overview 126 information research & contact 20 development 128 details product 24 overview K AonecR nes 2011 1 WorldReginfo - 71675820-ae2f-44d6-8b30-9bd15cb7b68f K AonecR nes in A SNApshot Workstation crane Konecranes is a world-leading manufacturer of lifting equipment, serving manufacturing and process industries, shipyards, ports, and power plants with productivity- enhancing lifting solutions and services. Our extensive resources, technologies, and proactive mindset ensure that we always deliver on our customer promise: Lifting Businesses™. m ARKet industRy- sales of leAdeR leAding EU R 1,896.4 in industrial cranes and technology million crane service in 2011 and gloBal modular product platforms 11,651 production facilities sales and service locations employees in 16 in 47 in 2011 countRies countRies head office listed on in FinlAnd thed nAs AQ omX ExchAnge in helsinki, finland 2 K AonecR nes 2011 Konecranes in a snapshot WorldReginfo - 71675820-ae2f-44d6-8b30-9bd15cb7b68f Business AReAs service e quipment t hrough its global service network, Konecranes’ Business Business area equipment offers components, cranes, and area service offers a full range of service solutions, mainte- material handling solutions for a wide range of industries, nance, and modernization for all brands and makes of cranes, including process industries, the nuclear sector, industries port equipment, and machine tools. Konecranes has 609 ser- handling heavy loads, ports, intermodal terminals, shipyards, vice locations in 47 countries. and bulk material terminals. products are marketed through a multi-brand portfolio that includes the Konecranes corporate Pr Oducts brand and the stahL cranesystems, sWF, Verlinde, r&M, and Konecranes offers five different service levels covering the sanma hoists & cranes power brands. following products: inspections, preventive maintenance programs, repairs and improvements, on-call service, spare Pr Oducts parts, modernizations, and special services such as opera- industrial cranes, including standard-duty cranes, heavy-duty tional service, remote services, and consultation. cranes, and workstation lifting systems such as load mani- pulators; components including wire rope hoists, crane kits, Mar Ket positiOn electric chain hoists, manual hoists and accessories; nuclear t he clear market leader in crane service, with the world’s cranes; port cranes; bulk material unloaders; lift trucks; and most extensive crane service network. one of the largest shipyard cranes. international providers of machine tool service. Mar Ket positiOn s ervice cOntract Base the world’s largest supplier of industrial cranes. a worldwide a pproximately 410,000 units are covered by Konecranes leader in explosion-protected crane technology. a global lead- maintenance contracts, of which approximately 25 percent er in electrical overhead traveling cranes for process indus- are manufactured by Konecranes. tries and shipyard gantry cranes. a global supplier of cranes and lift trucks for container handling and heavy unitized cargo and bulk material unloading. a nnuaL PrOductiOn t ens of thousands of standard cranes, wire rope hoists, and electric chain hoists, and hundreds of heavy-duty cranes, hoisting trolleys, and heavy-duty lift trucks. sales By Business area eBit By Business area 2011* personnel By Business area 2011 service MeUr 55.7 2011 service, MeUr 796.1 equipment MeUr 81.7 service 5,980 equipment, MeUr 1,201.4 *Excluding restructuring costs equipment 5,621 40% 41% 48% 52% 60% 59% Konecranes in a snapshot K AonecR nes 2011 3 WorldReginfo - 71675820-ae2f-44d6-8b30-9bd15cb7b68f 2011 highlights Gr owth in oRdeRs And sAles, opeRAting pRoFit on pRevious yeAR’s level • Demand for maintenance services continued to develop Mao j R gRowth investments favorably throughout the year due to higher capacity • Konecranes continued to further strengthen its position utilization within customer industries. Demand for new in the world’s growing emerging markets, both organically equipment grew strongly during the first half of the year, and through bolt-on acquisitions. but showed signs of stabilization towards the end of • Konecranes made seven acquisitions in chile, india, 2011 due to increasing macroeconomic tensions. Geo- austria, Germany, spain, switzerland, and saudi arabia graphically, the americas saw the strongest growth in during 2011. demand. order intake totaled eUr 1,896.1 million, an • Konecranes acquired 100 percent of the shares of increase of 23.4 percent compared to 2010. WMi cranes Ltd. – one of india’s leading manufacturers • Konecranes’ order book as of the end of the year stood of heavy-duty cranes – in two phases. the acquisition at eUr 991.8 million, 31.2 percent higher than in 2010. marks an important step in strengthening Konecranes’ • net sales increased by 22.6 percent compared to 2010 position in the growing indian crane market. and totaled eUr 1,896.4 million. • in June, Konecranes acquired 100 percent of the saudi- • operating profit before restructuring costs was eUr arabian crane manufacturer, saudi cranes & steel Works 117.2 million, 1.8 percent above the 2010 figure. oper- Factory company Limited. saudi cranes’ core business ating margin before restructuring costs was 6.2 percent is the design, manufacture, and sales of industrial of sales. cranes. • operating profit including restructuring costs was eUr • personnel numbered 11,651 as of the end of 2011, an 106.9 million, 4.9 percent below the 2010 figure. op- increase of 1,609. approximately one-third of this in- erating margin including restructuring costs was 5.6 crease came from acquisitions. percent of sales. • r&D investments were 1.6 percent of net sales (2010: • the operating profit was held back by higher business 1.4 percent) development spending related to technology and it. the • Konecranes launched the first service products in the sales mix was less favorable than in 2010 in both busi- trUconnect® remote services product family. the ness areas. trUVieW® remote data monitoring and reporting service collects actual usage data from cranes through a remote pFeR oRmAnce By Business AReA connection. trUcare® is a five-year full service contract • net sales in the service business area were 12.5 built around the trUVieW service. trUeFFiciencY Basic percent higher than in 2010, at eUr 796.1 million. op- remote service – an online production monitoring service erating profit before restructuring costs was eUr 55.7 – is available for Machine tool service (Mts). million, or 7.0 percent of net sales. Volume growth con- tributed positively to the operating profit, but the cost of expanding
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