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1. Company Snapshot

1.a. Company Description

Konecranes Plc manufactures, sells, and services cranes, lifting equipment, and machine tools worldwide.It operates through three segments: Service, Industrial Equipment, and Port Solutions.The company offers specialized maintenance services and spare parts for industrial cranes and hoists.


It also provides a range of industrial cranes for general manufacturing and various process industries; and crane components and lifting equipment solutions to other crane manufacturers and distributors.In addition, the company offers container handling equipment and mobile harbor cranes, as well as port solution related software.Further, its products include workstation lifting systems, overhead cranes, hazardous environment cranes and hoists, lift trucks, and bulk handling equipment, as well as cores for lifting; and services comprise maintenance, inspection and preventive maintenance, predictive maintenance and remote monitoring, corrective maintenance and retrofit, consultation, modernization, and remote services.


The company serves the automotive, container handling, mining, general manufacturing, nuclear, petroleum and gas, power, paper and forest, shipyard, metals production, and waste to energy and biomass industries.Konecranes Plc was founded in 1910 and is headquartered in Hyvinkää, Finland.

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1.b. Last Insights on KCR

Konecranes' recent performance has been driven by a strong industrial outlook, with demand from the construction and mining sectors, as well as a shift towards automated systems. The company's X-series crane has been adopted by Paklog to boost packaging operations, enhancing efficiency and safety. Additionally, manufacturers are turning to AI to navigate trade disruptions, which could benefit Konecranes. A favorable market outlook, with Asia Pacific projected to be the fastest-growing region, also supports the company's prospects. Konecranes is a key player in the crane and hoist market.

1.c. Company Highlights

2. Konecranes' Q3 2025: Strong Order Intake and Margin Expansion

Konecranes reported a robust Q3 2025, with revenues of nearly EUR 1 billion, a decrease of 5.5% year-on-year, and a record high EBITA margin of 16.7%, up from 14.3% in Q2 2025. The company's EPS came in at 1.33, slightly below estimates of 1.4. The strong margin performance was driven by good execution, a better mix, and one-off items, including an R&D grant of EUR 4 million. The order intake growth was 23% year-on-year, with a strong performance in Port Solutions and Industrial Equipment.

Publication Date: Oct -26

📋 Highlights
  • Order Intake & EBITA Margin Growth:: Q3 order intake rose 23% YoY to EUR 1.1B, while EBITA margin hit record 16.7% (up from 14.3% in Q2 2025).
  • Port Solutions Surge:: Segment order intake jumped 36% YoY to EUR 450M, driven by strong port activity and stable demand outlook.
  • Financial Strength:: Free cash flow reached EUR 200M+ (a record), with net working capital at EUR 285M and return on capital employed of 21.7%.
  • Tariff & Pricing Impact:: 50% steel tariff offset by 2-3% pricing increases, though future margin pressure possible amid competition from Chinese manufacturers.
  • Guidance Stability:: 2025 net sales and EBITA margin guidance unchanged, with Q4 margin expected to dip due to one-off Q3 positives and mix effects.

Segment Performance

The Industrial segment saw stable demand, while the Port Solutions market continued to show good activity. Industrial Service recorded an order intake growth of 8.7%, driven by large modernization orders, and Industrial Equipment had a 26% growth in external orders. Port Solutions had an excellent order intake of EUR 450 million, up 36% year-on-year, driven by strong demand for STS cranes.

Cash Flow and Balance Sheet

The company's net working capital was EUR 285 million, or 6.7% of rolling 12-month sales, and free cash flow reached a record level of over EUR 200 million. Konecranes moved from a net debt situation to a net cash position, with a return on capital employed of 21.7%. This strong cash generation is a positive indicator of the company's financial health.

Outlook and Guidance

Konecranes expects net sales to remain approximately on the same level in 2025 compared to 2024, with a comparable EBITA margin expected to remain approximately on the same level or improve. The company guides that there isn't anything dramatic expected in Q4 that would deviate from the normal course of business significantly, with the margin influenced by mix and volume. Analysts estimate next year's revenue growth at 4.7%, indicating a positive outlook for the company's future performance.

Valuation

Konecranes is currently trading at a P/E Ratio of 17.3, P/B Ratio of 3.6, and EV/EBITDA of 9.56. The company's ROE is 21.28%, and ROIC is 13.28%. These metrics indicate that the company is generating strong returns on equity and invested capital. The dividend yield is 1.97%, and free cash flow yield is 8.03%, providing a relatively attractive return for investors.

3. NewsRoom

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Crane and Hoist Market Outlook Report 2025-2030, with Case Studies of Norelco, Tri-State Cranes, USG, FPS Food Processing Solutions, and R&M Material Handling

Sep -16

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Does Konecranes Still Offer Upside After 32.5% Jump and Strong Industrial Outlook?

Sep -09

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Paklog boosts packaging operations with Konecranes X-series crane

Sep -05

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Analysis: Just in time? Manufacturers turn to AI to weather tariff storm

Aug -13

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Why Ports Want Tariffs on Chinese Cranes Delayed

Jul -09

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Stocks to watch this week: Burberry, Vodafone, BT and Walmart

May -10

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Stocks to watch this week: Amazon, Apple, Anglo American and Novo Nordisk

Apr -26

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Espionage Probe Finds Communications Device on Chinese Cranes at U.S. Ports

Mar -07

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4. Business Breakdown

4.a. Revenues by Country

4.b. Revenues by Segment

5. Expected revenues mid-term growth (2.50%)

6. Segments

Rental

Expected Growth: 2.5%

Rental from Konecranes Plc driven by 2.5% growth, attributed to increasing demand for industrial equipment, expansion in emerging markets, and strategic partnerships. Additionally, the company's focus on digitalization and service-based offerings contributes to revenue growth, as customers seek efficient and cost-effective solutions.

Management Fees

Expected Growth: 1.8%

Konecranes Plc's 1.8% growth in Management Fees is driven by increasing demand for industrial crane modernization, expansion of service offerings, and strategic acquisitions. Additionally, the company's focus on digitalization and automation has improved operational efficiency, leading to higher margins and revenue growth.

Leasehold Extension

Expected Growth: 1.2%

Konecranes Plc's 1.2% leasehold extension growth driven by increasing demand for industrial equipment, rising urbanization, and growing need for efficient material handling solutions. Additionally, strategic acquisitions and expansion into emerging markets contribute to the company's growth momentum.

Resale Commission

Expected Growth: 2.2%

Resale Commission from Konecranes Plc growth of 2.2% driven by increasing demand for industrial cranes and lifting equipment, expansion into emerging markets, and strategic partnerships. Additionally, the company's focus on digitalization and service-based business models contributes to the growth, as customers seek more efficient and cost-effective solutions.

Ground Rents

Expected Growth: 1.5%

Konecranes Plc's Ground Rents segment growth of 1.5% is driven by increasing demand for industrial and logistics spaces, expansion of e-commerce, and rising urbanization. Additionally, the company's strategic focus on service-based revenue streams, cost savings initiatives, and investments in digitalization also contribute to the growth.

Other

Expected Growth: 1.9%

Konecranes Plc's 1.9% growth in the 'Other' segment is driven by increasing demand for industrial cranes and heavy lifting equipment, particularly in the Asia-Pacific region. Additionally, the company's focus on digitalization and automation, as well as its strategic acquisitions, have contributed to this growth.

7. Detailed Products

Industrial Cranes

Konecranes offers a wide range of industrial cranes, including overhead traveling cranes, gantry cranes, and semi-gantry cranes, designed for various industries such as manufacturing, automotive, and aerospace.

Port Cranes

Konecranes provides a range of port cranes, including container cranes, bulk handling cranes, and general cargo cranes, designed for efficient and safe cargo handling in ports and terminals.

Ship-to-Shore Cranes

Konecranes offers ship-to-shore cranes designed for efficient and safe container handling in ports and terminals.

Reach Stackers

Konecranes provides a range of reach stackers, designed for efficient and safe container handling in ports, terminals, and intermodal facilities.

Lift Trucks

Konecranes offers a range of lift trucks, including counterbalance trucks, reach trucks, and warehouse trucks, designed for efficient and safe material handling in warehouses and distribution centers.

Service and Maintenance

Konecranes provides a range of service and maintenance solutions, including inspections, repairs, and modernizations, designed to improve the safety and efficiency of material handling equipment.

8. Konecranes Plc's Porter Forces

Forces Ranking

Threat Of Substitutes

The threat of substitutes for Konecranes Plc is medium due to the availability of alternative products and services in the market. However, the company's strong brand reputation and customer loyalty mitigate this threat to some extent.

Bargaining Power Of Customers

The bargaining power of customers is low for Konecranes Plc due to the company's strong market position and the lack of concentration of buyers in the industry.

Bargaining Power Of Suppliers

The bargaining power of suppliers is medium for Konecranes Plc due to the presence of several suppliers in the market. However, the company's large scale of operations and strong relationships with suppliers mitigate this threat to some extent.

Threat Of New Entrants

The threat of new entrants is low for Konecranes Plc due to the high barriers to entry in the industry, including the need for significant capital investment and technological expertise.

Intensity Of Rivalry

The intensity of rivalry is high for Konecranes Plc due to the presence of several established players in the industry, leading to a highly competitive market.

9. SWOT Analysis

Strength

Weaknesses

Opportunities

Threats

10. Capital Structure

10.a. Balance Sheet

10.b. Weighted Average Cost of capital

Value
Debt Weight 34.56%
Debt Cost 7.25%
Equity Weight 65.44%
Equity Cost 10.91%
WACC 9.65%
Leverage 52.81%

11. Quality Control: Konecranes Plc passed 6 out of 9 key points

12.a Historical Valuation

12.b Price/Earnings Ratio

12.c Margin Valuation

12.d Peers Valuation

Peers Group Analysis

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A-Score: 5.5/10

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Growth: 7.1

Quality: 7.2

Yield: 5.6

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Volatility: 3.0

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A-Score: 4.5/10

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Yield: 1.9

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Peers Metrics

12.e Scoring Insights

12.f DCF BETA

Parameters

Short Term Growth

Short term Time

Long-Term Growth

WACC

Target Price

89.35$

Current Price

89.35$

Potential

-0.00%

Expected Cash-Flows