13.07.2022

Konecranes issues Profit warning

Finnish marine and industrial crane and handler manufacturer Konecranes has issued a full year profit warning.

Konecranes expects full year sales to come in at similar level or slightly higher than the €3.2 billion achieved last year, with operating profits remaining close to, or better than the same period in 2021, while pre-tax profits is now likely to decline.
The company said: “Although the demand environment has remained good, global component and material availability and other supply chain issues as well as Covid-19 related challenges have continued to impact Konecranes’ delivery capability in the second quarter. These issues are expected to continue, and as a result, we are lowering our full-year 2022 guidance.”

Vertikal Comment

This is not entirely surprising, many manufacturers have the orders in house, but are struggling to keep pace with order intake, while stop start production can add significant cost.