Cargotec’s Interim Report January–June 2009 – Demand Remained on Low Level

INTERIM REPORT July 20, 2009 at 12.00 pm EEST

Report Highlights – January–June
• Orders received totalled EUR 928 (1–6/2008: 2,168) million.
• The order book was EUR 2,555 (31.12.2008: 3,054) million at the end of the reporting period.
• Sales declined 17 percent and were EUR 1,353 (1–6/2008: 1,627) million.
• Operating profit excluding restructuring costs was EUR 18.0 (107.3) million, representing 1.3 (6.6) percent of sales.
• Operating profit was EUR -3.9 (107.3) million. Operating profit includes EUR 21.9 (0.0) million of restructuring costs.
• Cash flow from operating activities before financial items and taxes totalled EUR 106.8 (94.7) million.
• Net income for the period amounted to EUR -5.8 (70.1) million.
• Earnings per share was EUR -0.11 (1.11).

Report Highlights – second quarter
• Orders received totalled EUR 471 (4–6/2008: 1,013) million.
• Sales declined 25 percent and were EUR 678 (901) million.
• Operating profit excluding restructuring costs was EUR 3.0 (63.1) million, representing 0.4 (7.0) percent of sales.
• Operating profit was EUR -10.0 (63.1) million. Operating profit includes EUR 13.1 (0.0) million of restructuring costs.

Cargotec’s President and CEO Mikael Mäkinen:
“As stated earlier, demand continued weak during the second quarter. The whole first half of 2009 has been an extremely challenging time in cargo handling, and has required heavy restructuring of our operations. Our global supply footprint will change significantly during this year. Additionally, we aim for a clearly better and more efficient operating model in our sales and services network. The strong cash flow during the first half is an excellent achievement in this market situation”, states President and CEO Mikael Mäkinen.

Press Conference for analysts and media:
A press conference for analysts and media will be combined with a live international telephone conference and arranged on the publishing day at 2.00 pm (EEST) at Cargotec’s head office, Sörnäisten rantatie 23, Helsinki. The event will be held in English. The interim report will be presented by President and CEO Mikael Mäkinen. The presentation material will be available on www.cargotec.com by 2.00 pm (EEST).

The telephone conference, during which questions may be presented, may be accessed at the following numbers ten minutes before the beginning of the event: US callers +1 646 843 4608, non-US callers +44 20 3023 4412, access code Cargotec Corporation.

The event can also be viewed as a live webcast at www.cargotec.com. An on-demand audiocast of the conference will be published on Cargotec’s website later during the day.

A replay of the conference call will be available until 3.00 pm July 22, 2009 (EEST), in the following numbers: US callers +1 866 583 1035, non-US callers +44 20 8196 1998, access code 136498#.

The entire report is available in the attached file.

For further information, please contact:
Eeva Sipilä, CFO, tel. +358 204 55 4281
Paula Liimatta, IR Manager, tel.+358 204 55 4634


Cargotec improves the efficiency of cargo flows by offering solutions for the loading and unloading of goods on land and at sea – wherever cargo is on the move. Cargotec’s main daughter brands for cargo handling Hiab, Kalmar and MacGregor are global market leaders in their fields. Cargotec’s global network offers extensive services that ensure the continuous, reliable and sustainable performance of equipment. Cargotec’s sales totalled EUR 3.4 billion in 2008 and it employs approximately 11,000 people. Cargotec’s class B shares are quoted on the NASDAQ OMX Helsinki. www.cargotec.com