Quite a significant target price increase and buy recommendation from Goldman Sachs.
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Konecranes’ CEO Marko Tulokas was speaking at Investor’s Week about Konecranes as an investment target. 
Topics:
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Konecranes’ self-driving container carriers in action:
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RECORD-HIGH ADJUSTED EBITA MARGIN AND EXCELLENT ORDERS RECEIVED
Up by +13%, which was well received by the market!
THIRD QUARTER IN BRIEF
- Orders received totaled EUR 1,148.6 million (956.2), up +20.1 percent (+22.9 percent in comparable currencies). Orders received increased in all business areas.
- The value of the Industrial Service agreement base was EUR 334.6 million (328.9), up +1.7 percent (+5.2 percent in comparable currencies).
- The order book totaled EUR 3,057.4 million (2,847.4) at the end of September, up +7.4 percent (+9.2 percent in comparable currencies).
- Sales totaled EUR 988.7 million (1,069.9), down -7.6 percent (-5.5 percent in comparable currencies). Sales decreased in Industrial Service and Port Solutions but increased in Industrial Equipment.
- The adjusted EBITA margin was 16.7 percent (13.4) and adjusted EBITA was EUR 164.9 million (143.1). The adjusted EBITA margin increased to 22.7 percent (21.6) in Industrial Service, increased to 14.1 percent (9.8) in Industrial Equipment, and increased to 11.8 percent (9.6) in Port Solutions.
- Operating profit was EUR 153.6 million (138.1), 15.5 percent of sales (12.9).
- Diluted earnings per share was EUR 1.31 (1.27).
- Free cash flow was EUR 214.2 million (187.1).
FINANCIAL GUIDANCE
Konecranes expects sales to remain approximately at the same level in 2025 compared to 2024. Konecranes expects the adjusted EBITA margin for 2025 to remain approximately at the same level or improve from 2024.
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Fast pace! 
Trade wars and such don’t seem to weigh much here.
Konecranes has historically been a real thermometer with its fast-moving stock. What phase of the cycle are we in now, or is everything different this time..
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Why would a trade war weigh on the stock price? In the US, about 80% of the solutions that Konecranes could have supplied have been bought from Chinese companies. There’s an opportunity for a redistribution of market shares.
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Here is Ilkka Sinervä’s article about Konecranes and other engineering companies. Hannu Angervuo is quoted in the article.
Konecranes has emerged as the winner on the order front for engineering companies, securing new orders worth approximately 1.14 billion euros, or about 20 percent more compared to the corresponding third quarter of the previous year.
The company’s order intake for industrial and port equipment strengthened by double-digit percentages even amidst the customs turmoil.
Konecranes may have won sales of port cranes across the pond from Chinese giant and market leader ZPMC, which may have faced headwinds in the United States.
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[Konecran
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Konecranes’ Head of Investor Relations Linda Häkkilä was presenting the company as an investment at the Sijoittaja 2025 event.
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Target prices for engineering companies are being nudged upwards. 
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Key highlights from Konecranes’ financial statement release:
FOURTH QUARTER IN BRIEF
- Orders received were €1,081.7 million (1,166.5), -7.3 percent (-4.3 percent on a comparable currency basis). Orders received decreased in all business areas.
- Service agreement base value was €339.3 million (342.5), -0.9 percent (+4.4 percent on a comparable currency basis).
- Order book value was €2,988.4 million (2,888.4) at the end of December, +3.5 percent (+7.0 percent on a comparable currency basis).
- Sales were €1,163.0 million (1,212.5), -4.1 percent (-1.3 percent on a comparable currency basis). Sales decreased in all business areas.
- Comparable EBITA margin was 14.1 percent (13.2) and comparable EBITA was €164.0 million (159.5). The comparable EBITA margin increased to 21.9 percent (20.6) in Service, to 11.7 percent (9.7) in Industrial Equipment, and decreased to 9.2 percent (9.7) in Port Solutions.
- Operating profit was €151.9 million (146.4), 13.1 percent of sales (12.1).
- Diluted earnings per share were €1.52 (1.36).
- Free cash flow was €138.3 million (169.9).
YEAR 2025 IN BRIEF
- Orders received were €4,389.3 million (3,999.6), +9.7 percent (+11.6 percent on a comparable currency basis).
- Sales were €4,187.8 million (4,227.0), -0.9 percent (+0.7 percent on a comparable currency basis).
- Comparable EBITA margin was 14.0 percent (13.1) and comparable EBITA was €588.1 million (551.6). The comparable EBITA margin increased in all business areas.
- Operating profit was €542.4 million (511.4), 13.0 percent of sales (12.1). Items affecting comparability totaled €11.0 million (9.3) and consisted mainly of restructuring costs.
- Diluted earnings per share were €5.03 (4.63).
- Free cash flow was €529.6 million (427.2).
- Net debt was -€163.5 million (183.5) and gearing was -7.8 percent (9.9).
- The Board of Directors proposes a dividend of €2.25 per share for the year 2025.
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It seems that at least in Nordnet, Konecranes’ share price has already been split, but the number of shares remains the same. I was wondering about the big drop in my portfolio today, this is why.
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The share price has indeed fallen (not just in Nordnet but on the stock exchange) as it should. This means the “split detached” overnight; today, there is no longer a right to the split, so the share price has fallen. It’s the same mechanism as with dividends: today the share price has fallen, and there is no right to a dividend. And like dividends, the split shares will appear a bit later in the investment account (AO-tilille), estimated to be on March 31st.
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In Danske Bank, at least, everything already looks correct, meaning the new share count and the correct split-adjusted price change from yesterday (currently around -5%).
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The share price change is shown correctly in Nordnet, but the number of shares is incorrect.
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Looks like all versions are available. In OP, in the morning, the number of shares was the same as before, but at a lower price. Now, the same number of shares is visible, but the price is around €84 per share. What would happen if I sold one at the current market price? How messed up would the systems get if the new ones hopefully still find their way into the portfolio?
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CEO’s review of last week’s Annual General Meeting! 
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Is anyone else seeing tomorrow’s dividend as €0.75/share in Nordnet? Did I misunderstand that it was supposed to be €2.25/share for this year before the split? My total amount is 0.75x the old number of shares, not 2.25x the old number.
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JANUARY-MARCH 2026 IN BRIEF
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Orders received increased 0.3% to EUR 1,065.9 million (1,062.2). In comparable currencies, orders increased by 3.7%. Orders received increased in Industrial Equipment but decreased in Service and Port Solutions.
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Order book increased 7.9% to EUR 3,175.4 million (2,941.8). In comparable currencies, the order book increased by 9.8%.
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Service agreement base value increased 2.0% to EUR 347.1 million (340.3). In comparable currencies, the value of the agreement base increased by 4.6%.
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Sales decreased 7.7% to EUR 907.9 million (983.7). In comparable currencies, sales decreased by 4.8%. Sales decreased in all business areas.
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Comparable EBITA decreased to EUR 105.7 million (109.0), but the comparable EBITA margin increased to 11.6% (11.1%). The comparable EBITA margin increased to 20.4% (20.2%) in Service and 9.9% (8.3%) in Port Solutions, but decreased to 4.2% (4.6%) in Industrial Equipment.
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Free cash flow was EUR 34.6 million (58.7).
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Basic earnings per share were EUR 0.28 (0.31).
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Net debt was EUR -184.9 million (140.9).
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Gearing was -9.5% (8.0%).
A lot of softness in the results
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Explosive growth turned into steadier performance? The stock price drop feels like an overreaction, but when it’s still up almost 40% for the year even after the dip, it’s quite understandable. Actually, I’ve been wondering more about what exactly fueled that rise in the first place.
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